When you are buying a property, it can be helpful to understand the stages in the conveyancing process. Our guide below takes you through the steps when buying property in Leeds and surrounding areas. If you don’t have an appointed solicitor, we are happy to help, by putting you in touch with one of our experienced conveyancers.
- You make an offer on the property, which is accepted by the seller.
- Your conveyancing solicitor is instructed on acceptance of the offer.
- The buyer or their estate agent arranges a survey on the property, and makes an application for a mortgage (if required).
- Your conveyancer confirms instructions by letter setting out the terms of business and fixed fee costs.
- Your conveyancer contacts the seller’s conveyancer to obtain the contract pack.
- Your conveyancer checks the contract pack, raises pre-contract enquiries, carries out the necessary searches and obtains a copy of the mortgage offer.
- Sellers’s conveyancer and seller answer pre-contract enquiries and return these to buyer’s conveyancer.
- Your conveyancer reviews and reports to the buyer on the contents of the contract pack, pre-contract enquiries, the result of the searches and mortgage offer. The buyer then considers this report and raises questions on anything that is unclear.
- When you are happy to proceed, arrangements are made for the deposit to be paid to your conveyancer in readiness for exchange of contracts.
- The seller and buyer agree on a completion date and contracts are formally “exchanged” – meaning both parties are legally committed to the transaction.
- Your conveyancer prepares a draft transfer deed and completion information form and sends these to the seller’s conveyancer for completion.
- The seller’s solicitor approves the draft transfer deed and a final copy is made. This may need to be signed by the buyer before being sent to the seller’s solicitor for signature by the seller in readiness for completion.
- Your conveyancer prepares a completion statement, carries out pre-completion searches and applies to the buyer’s mortgage lender for the mortgage loan.
- On completion, you vacate the property by the agreed time and buyer’s conveyancer sends the proceeds of sale to the seller’s conveyancer.
- Seller’s conveyancer releases the keys to sbliving and sends the title deeds and transfer deed to your conveyancer together with an undertaking to repay any existing mortgage.
- Your conveyancer sends the stamp duty payable to HMRC, receives the title deeds, transfer deed and proof that the seller has paid the outstanding mortgage on the property.
- Your conveyancer registers the property in the name of the buyer at the land registry.
- You receive a copy of the registered title from the land registry. Any documents required by the mortgage lender to be retained by them are sent on by your conveyancing solicitor.
