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Conveyancing Service Information

CONVEYANCING - PURCHASE

How long the purchase will take

The time taken from the seller accepting your offer to buy, to completing the purchase of your new home, depends on several things. On average it takes between 8 to 10 weeks. The number of houses in the chain will affect the time it takes.   Chains are one of the main causes of delays in conveyancing transactions.  If there is no chain and finances are in place, transactions can be completed in half the time.  If you are buying a new build home, with a mortgage, it will typically take 4 to 6 weeks to exchange of Contracts.  Completion will depend upon when the house is ready for occupation. If you are buying a leasehold property and an extension of the lease is needed, the time for completing the purchase could take 6 to 10 weeks longer.

Stages of the buying process

  • Taking your instructions and giving initial advice.  Obtaining proof of ID and funding.
  • Check your finances and that arrangements are in place to pay for the purchase and contact the mortgage lender’s solicitor if applicable
  • Receive the contract from the seller’s solicitor and checking the same
  • Carry out searches
  • Obtain further documents if needed, such as planning permissions
  • Ask the seller’s solicitor questions to clarify issues identified in the documents
  • Report to you about the documents and other information received
  • Receive the deposit money from you
  • Explain the mortgage obligations to you
  • Arrange for you to sign the contract and other documents
  • Agree the date that the purchase will be completed which is when you will be able to move in to your new home
  • Exchange contracts.  This is when your signed contract is sent to the seller’s solicitor and the seller’s signed contract is sent to us and the transaction becomes legally binding
  • Arrange for the lender to send us the mortgage money and for you to send us any other money needed
  • Complete the purchase so you own your new home
  • Carry out the work needed to pay the Stamp Duty Land Tax
  • Carry out the work needed to register your ownership of the property at the Land Registry

CONVEYANCING - SALE

How long the sale will take

The time taken from you accepting the offer from the buyer, to completing the sale of your home, depends on several things.  On average it takes between 8 to 10 weeks.  The number of houses in the chain will affect the time it takes.   Chains are one of the main causes of delays in conveyancing transactions.  If you are selling a leasehold property and an extension of the lease is needed, the time for completing the sale could take 6 to 10 weeks longer. 

Stages of the selling process

  • Taking your instructions and giving you initial advice.  Obtaining proof of ID
  • Prepare contract and send it to your buyers solicitors
  • Receive and deal with any enquiries raised including taking your instructions thereon as required
  • Arrange for you to sign the sale contract and any other relevant documents
  • Agree the date that the sale will be completed being the day that you will be required to move out of your home               
  • Exchange contracts.  This is when your signed contract will be sent to the buyers solicitor and the buyers signed contract is sent to us and the transaction becomes legally binding            
  • Obtain a redemption statement from your lender if applicable and redeem the mortgage on completion
  • Obtain the estate agents fee and if approved by you pay it on your behalf on completion
  • Complete the sale          
  • Account to you for any balance from the sale unless this is to be used for a related purchase

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