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Process for Buying

Conveyancing Process for Buying a Property

  1. Once the Buyer and Seller have agreed on a purchase price, the Buyer instructs a Conveyancer.
  2. Buyer is to arrange a survey on the property and apply for a mortgage if required.
  3. The Buyer’s Conveyancer will obtain ID documentation & proof of address and thereafter confirm instructions via Client Care letter/ Terms of Business.
  4. The Buyer’s Conveyancer will thereafter confirm instructions with the Sellers Conveyancers and obtain the Contract Pack (Title Documents/Supporting Documentation including the Property Information Form and Fixtures & Fittings Form).
  5. The Buyer’s Conveyancer will approve the draft Contract provided, prepare a draft Transfer, apply for any required searches (Local Authority Search/Environmental Search/Water and Drainage & Chancel Check). Thereafter they will also thoroughly check through the Contract Pack (Official Copy Entries/Transfers/Conveyances), raise pre-contract enquiries, carry out any further necessary searches and obtain a copy of the mortgage offer.
  6. The Seller’s Conveyancer will obtain replies from the Seller and provide replies to the pre-contractual enquiries and subsequently return the same to the Buyer’s Conveyancer. They will also approve the Transfer provided and obtain the engrossed from the Buyer’s Conveyancer.
  7. The Buyer’s Conveyancer will review all documentation and provide a report to the Buyer with respect to the Contract Pack, Pre-Contract Enquiries and results of the searches/mortgage offer. The Buyer will have an opportunity to go through all documentation/report and raise any questions/concerns with respect to the same.
  8. Once the Buyer is happy with the contents mentioned therein and happy to proceed. They will make arrangements to transfer the deposit monies to the buyers Conveyancer in readiness to exchange Contracts.
  9. Once the Buyer and Seller have agreed upon a date to complete the above matter, contracts may be formally “exchanged.” This will mean that both parties are legally committed to the transaction and bound to the Contractual terms. Some Buyers may opt to have simultaneous exchange and completion.
  10. The Buyer’s Conveyancer will ensure both them and the Seller’s Conveyancer hold their clients retrospectively executed Transfers and completion form. The Buyer’s Conveyancer will then prepare a completion statement, carries out any pre-completion searches required and apply for the release of the mortgage funds. (Release of mortgage funds can take up to 5 working days).
  11. On completion, the Buyer will have vacated the property at the agreed time and the Buyer’s Conveyancer would send proceeds of the sale to Sellers Conveyancer.
  12. Seller’s Conveyancer is to instruct their clients selling agents to release keys (if applicable) and send all the original title documents and transfer deeds to the releases the keys to the estate agent (if one was used) and sends the title deeds and transfer deed to the buyer’s Conveyancer. The Seller’s Conveyancer will also make arrangements to redeem all charges/mortgages affecting the property and as per their undertaking to the Buyer’s Conveyancer.
  13. The Buyer’s Conveyancer will make arrangements to pay any stamp duty payable to HMRC. Thereafter along with the title documentation, sellers duly executed transfer and evidence of the charges being redeemed, make an application to Land Registry to register the Buyer’s name.
  14. Once Land Registry registers the title deeds in the buyer’s name, they will notify the Buyer’s Conveyancer. Thereafter the Buyer’s Conveyancer will then register send the Buyer the completion documentation and commence steps to close the file.