Nine steps to conveyancing for home buyers

Buying and selling property involves the process of conveyancing. Here's our step by step guide through the process if you're a buyer.

 

Taking in a lodger could help household financesConveyancing guide for house buyers

1.     The buyer (you) makes an offer  on the property. If that offer’s accepted you (or your mortgage lender)can arrange a survey and then instruct your conveyancer.

2.     Your conveyancer will set out the terms of business in writing and contact the seller’s conveyance to get the contract pack.

3.     The buyer’s conveyancer will check the contract pack and raise any questions, do the necessary searches and get a copy of the mortgage offer if applicable.

4.     Your conveyancer will review the contract pack, pre contract enquiries, the result of searches and mortgage offer so you can raise any further questions .

5.     When you’re happy to proceed, a deposit is usually required to be paid to your conveyancer and dates can be agreed for exchange and completion.

6.     Your conveyancer will prepare a transfer deed  for the seller to sign, prepare a completion statement and, if applicable, apply to your mortgage lender for the release of funds.

7.     Once you’ve completed, your conveyancer will sort out the monies due to the seller at which point the keys will be released.

8.     Your conveyancer will send any stamp duty due  to HMRC, get the title deeds, transfer deed and proof that the seller has paid the outstanding mortgage on the property.

9.     The property  will then be registered by your conveyancer  with the Land Registry and they’ll send you the new title deeds in due course.

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