Legals

 

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Conveyancing / Solicitors. What is conveyancing?

A legal process to transfer ownership of property from the seller to the buyer. The transfer of ownership of any property or real estate from one person to another.

Legals
Anyone involved in buying, selling or re-mortgaging of a property will need to instruct a solicitor to act on their behalf to ensure all legal aspects of their house move are dealt with. Traditionally this meant instructing a high street solicitor and endless meetings to discuss the progression of your move and sign contracts.

We have teamed up with Goldsmith Williams solicitors to provide you with an on-line conveyancing service second to none. No need to waste time and money hanging on the telephone to get an update. Just log-on to your secure account and instantly track the progress of your sale.

You can rely on friendly sensible advice in plain English. So if you need help understanding confusing conveyancing jargon they are always on hand to help. All at extremely competative rates.

Below is a Guide to conveyancing. We also have a jargon buster that explains the meaning of a number of terms you are likely to come across during the conveyancing process.

There are three keys stages to buying or selling your home:

STAGE ONE – Sale Agreed
Buyers Solicitor will:

Ask for your money on account of expenses

• Receive the contract and other papers from seller’s solicitors and ask for any additional enquiries necessary

• Carry out local authority searches (Land, water, etc..)

• Ask you to agree the property information forms

• Receive the mortgage offer from lender if applicable

• Report to you with contract for signature and requests deposit

Sellers Solicitor will:

Apply for your title deeds and land registry copies

• Ask you to complete a property information and fixture, fittings and contents forms

• Prepare a contract and sends it to the buyers solicitor and answers any further questions the buyers solicitor may have

• Negotiate the move date (completion)

STAGE TWO – Exchange of contracts
(after this the sale becomes legally binding)
Buyers Solicitor will:

Send the contract and deposit to seller’s solicitor

• Prepare transfer and mortgage deed before sending them to you to sign

• Arrange final searches

• Prepare final searches and request any fees due

Sellers Solicitor will:

Confirm completion date

• Receive the buyers deposit

• Obtain a settlement figure from mortgage lender

• Approve the transfer deeds and arrange for you to sign it

STAGE THREE – Completion
Buyers Solicitor will:

Send the balance to sellers solicitor and receive deeds in return

• Pay any stamp duty if required

• Register the transfer with the land registry

• Send the title deeds to the lender

Sellers Solicitor will:

Receive balance of purchase price

• Pay off the balance of the mortgage

• Hand the deeds to the buyers solicitor

• Send you the balance or use it towards any purchase of another property

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