Finding a good conveyancer is absolutely critical in making sure that your sale completes quickly and with a minimum of stress. In our experience, using a cheap online conveyancer or one recommended by your bank/building society, or by an agent in return for referral fees can be a terrible mistake.
Conveyancing
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What Does The Conveyancer Do?
Conveyancing is the means by which legal ownership of the property transfers from seller to buyer, and is properly documented.
Step by step process:
Before Exchange
Instruct your conveyancer.
An offer is accepted
Agent sends memo of sale to each set of conveyancers
Seller’s conveyancer
Conducts due diligence on client (ID & Financial checks)
Requests completion of Law Society forms by Seller
Sends draft contract and sales docs to the buyers’ conveyancer
Answers Enquiries raised by buyers’ conveyancer with the help of the seller
Buyer’s conveyancer
Conducts due diligence on client (ID & Financial checks)
Writes to Sellers’ Conveyancer requesting draft contract or at very least a plan
Applies for Searches
Raises Enquiries
Receive Mortgage offer from Lender
Checked docs & report to Client
Send contract to client
Buyers
Organise Mortgage
Organise Homebuyers’ and/or structural survey, mortgage valuation if appropriate
Sign contract & return to conveyancer
Agree date of exchange & completion
Get quote for buildings insurance.
Exchange Of Contracts
On instruction, conveyancers exchange contracts – the sale is now legally binding, and from this day buyers must have buildings insurance in place.
The exchange deposit is paid across.
Buyers’ conveyancer registers an interest at the Land Registry.
Completion
Funds are transferred, keys handed over!
Post Completion
SDLT paid across.
Invoices are paid – eg. conveyancers and agents (for vendors).
Notifications sent (eg. Freeholder for leasehold property)
Applications to Land Registry to register the new owners.
Useful Docs To Keep Hold Of – A Checklist
✔ Copy of the title. Most will now be a digital record at the Land Registry, but you might get a hard copy, especially if the property has not been registered before.
✔ Copy of the lease. If leasehold. Also share certs, service charge & ground rent budgets and statements.
✔ Management pack if leasehold.
✔ Report on title.
✔ Property information form.
✔ NHBC/Buildmark warranty.
✔ Any indemnity insurances.
How Do I Choose A Conveyancer?
We would ALWAYS recommend using a local firm of conveyancers – not least because you can visit their offices to collect, drop off or sign documents, and they have a local reputation to maintain. They may even have friendly relations with the local authority – invaluable during searches.
In our area, we can recommend Horsey Lightly and Gardner Leader. We do not receive any sort of referral fee or commission – we just know, from personal and professional experience that they can get your sale completed without drama.
It is important to check that your conveyancer of choice is on your mortgagor’s approved list as you may incur additional fees if you use a conveyancer not approved by them.
Local Conveyancers
We are very happy to recommend some of our local firms, based on personal experiences:
Horsey Lightly residential property services
Gardner Leader residential property
