Buying or selling a home is one of the biggest financial transactions most people will ever make. The conveyancing process—the legal transfer of property ownership from seller to buyer—plays a crucial role in ensuring that everything goes smoothly. While it might seem complex, having a clear understanding of what to expect can make the journey far less daunting.

In this guide, we’ll walk through the key stages of conveyancing, when you’re selling a property.

What is Conveyancing?

Conveyancing is the legal process of transferring property ownership. It involves various legal, administrative, and financial checks to ensure that the transaction is secure for both parties. A licensed conveyancer or solicitor typically handles this process, working on behalf of the buyer or seller to manage contracts, perform searches, and facilitate the transfer of funds.

  1. Instructing a Conveyancer or Solicitor

The first step, whether you are buying or selling, is to appoint a conveyancer or solicitor to handle the legal aspects of the transaction. You’ll want to do this early on in the process, as the conveyancer will play a key role from start to finish.

– What to Look For: Choose a licensed conveyancer or solicitor with experience in property transactions. Ask for recommendations, read reviews, and compare quotes. Remember, cheapest isn’t always best—look for reliability and clear communication.

  1. Conveyancing Process When Selling a Property

Step 1: Instructing Your Conveyancer and Providing Property Information

Once you’ve accepted an offer, your conveyancer will request that you fill out various forms, such as:

– Property Information Form (TA6): This details key facts about the property, including boundaries, utilities, and any disputes.

– Fittings and Contents Form (TA10): This specifies what will be included in the sale (e.g., fixtures, appliances).

Your conveyancer will then prepare the draft contract, which will be sent to the buyer’s solicitor

Step 2: Responding to Enquiries

The buyer’s conveyancer will review the contract and property information and may raise enquiries. These are questions about any legal, structural, or environmental issues. You’ll need to work with your conveyancer to respond to these as fully as possible.

Step 3: Exchanging Contracts

Once all enquiries are resolved, and both parties are satisfied, the exchange of contracts takes place. From this point, the sale is legally binding, and a completion date is set.

Step 4: Completion and Moving Out

On the completion day, your conveyancer will receive the full payment from the buyer. You will need to vacate the property and hand over the keys, usually by lunchtime.

– Mortgage Repayment: If you have an outstanding mortgage, your conveyancer will repay the lender from the sale proceeds.

– Balance: The remaining funds (minus legal fees and any other expenses) will be transferred to you.

  1. How Long Does the Conveyancing Process Take?

The conveyancing process typically takes between 8 to 12 weeks, but the timeline can vary depending on factors such as:

– Property chain: If you’re part of a long chain of buyers and sellers, delays in one transaction can affect the entire chain.

– Searches and enquiries: If issues arise during searches or the buyer has specific concerns, these can add time to the process.

– Mortgage approval: Delays in securing a mortgage offer can also slow things down.

  1. Costs Involved in Conveyancing

The costs of conveyancing include:

– Legal fees: Typically range from £800 to £1,500 depending on the complexity of the transaction and the property’s value.

Tips for a Smooth Conveyancing Process

  1. Choose the right conveyancer: Research thoroughly and ensure they are responsive and have good reviews.
  2. Communicate clearly: Regularly check in with your conveyancer and respond to queries promptly.
  3. Be prepared: Have all documents and information ready to avoid delays.
  4. Understand the timeline: Be aware that delays can happen, especially if you’re part of a chain.

Final Thoughts

The conveyancing process may seem daunting, but with the right solicitor or conveyancer by your side, it can be straightforward and stress-free. Whether you’re buying or selling, understanding each stage will help you stay informed and feel more in control of the process.

Remember, while conveyancing involves a significant financial and emotional investment, it ultimately safeguards one of the most important transactions of your life: the transfer of your home.

At Kuavo, we have strong relationships with trusted conveyancers and are happy to connect you with them for no-obligation quotes. Whether you’re buying or selling, our recommended conveyancers can guide you through the process with professionalism and ease. Let us help make your property transaction as smooth as possible by introducing you to reliable experts who can meet your specific needs.

Post Views: 68