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Guide to Conveyancing
Step by Step Guide - Conveyancing
Choosing the right Conveyancer for your house purchase or sale can mean the difference between a smooth, efficient experience, and a stressful, time-consuming one. It is important you get it right.
Our professional, experienced and qualified conveyancing team can help make your move a happy experience. Whether you are buying, selling or remortgaging, our expert team has the local conveyancing knowledge and high standards to ensure your property transaction goes through smoothly. For your added peace of mind, Pearson Solicitors is an accredited member of the Law Society’s Conveyancing Quality Scheme (CQS).
Choosing the wrong solicitor could add hundreds of pounds to your bill, slow things down or even derail the whole buying and selling process.
We offer a wealth of legal expertise whether you are:
- Selling a home
- Buying a home
- Transferring Equity (including Matrimonial transfers)
- Registering for the first time
- Purchasing your freehold
- Buying to let
- Buying a property at auction
- Releasing Equity from your home
From offer through to completion, we aim to minimise the pressure by taking care of every single legal detail, liaising efficiently with all parties and keeping you informed every step of the way. We even have a client online portal that you can log onto 24/7 which gives constant comprehensive updates without even needing to pick up the phone.
This guide fully describes the procedures and steps to help you understand the conveyancing process and the legal implications involved.
Step by Step Guide to your Property Purchase
Your Conveyancer will:
- Contact you to provide you with a bespoke and personal quote. The individual will talk you through your quotation and answer any questions you may have.
- Send out terms of terms, request search fees and valid ID.
- On receipt of signed terms of business we will request the contract pack from the Conveyancer dealing with the sale.
- Undertake relevant searches; local search, water and drainage, environmental and coal as standard.
- On receipt of contract pack we will investigate the Title and peruse the searches and raise the relevant enquiries with the seller’s solicitor. We will ensure the Title is good and marketable.
- Review and report on the mortgage offer and deal with any bespoke conditions the Lender may have stipulated.
- Provide a full report on the Title information and searches undertaken and request you sign relevant documents in readiness for exchange and completion.
- Once completion dates have been agreed, a completion statement is drafted and sent to you requesting deposit balance and we will liaise with your Lender to ensure your mortgage advance is with us in readiness for completion.
- Proceed to exchange and make the matter legally binding.
- Following exchange we have to undertake relevant pre-completion searches to protect your position as required by your Lender.
- On the day of completion we will send funds to the seller’s Conveyancer and once completion has been confirmed we will serve notices (if relevant), submit your SDLT return to HMRC and confirm completion to all parties.
- Wait for the executed documents to come in from the seller’s Conveyancer and we will deal with the registration of the property in your name; it is at this stage you become the legal owner of the property.
- Following registration we will send the Title Deeds together with all relevant documents to you.
- Congratulations you have completed and are ready to move into your new home!
The buyer will:
- Have a mortgage application or finances in place and make an offer on a property.
- Instruct Pearson Solicitors, return the terms of business and pay for search fees. They will also provide a copy of the valuation.
- Receive a full report, sign the contract, transfer and mortgage Deeds.
- Arrange buildings insurance and transfer the deposit to Pearson Solicitors as cleared funds and be ready to exchange.
- Collect your keys and move in on completion. Contact the utility providers and local authority about the change of owner details.
Step by Step Guide to Selling your Property
Your Conveyancer will:
1. Contact you to provide you with a bespoke and personal quote. The individual will talk you through your quotation and answer any questions you may have.
2. Send out terms of business and other relevant forms for you to complete.
3. On receipt of signed terms of business, obtain your Title Deeds from you, your Lender or the Land Registry and undertake a review of the same in readiness for issuing the contract pack.
4. Compile a contract pack and send to the buyer’s Conveyancer, together with complete forms, returned by you.
5. Obtain an up to date provisional mortgage statement and send this to you for confirmation this is the outstanding balance you anticipate to pay on completion.
6. Answer any questions from the buyer’s Conveyancer about the contract pack.
7. Receive acknowledgement from the buyer’s Conveyancer that they are happy to proceed.
8. Invite you to sign the contract, transfer and obtain a final statement from your existing mortgage once a completion date has been agreed.
9. Exchange contracts with the buyer’s Conveyancer and hold the deposit.
10. On completion receive full payment for the purchase from the buyer’s Conveyancer and authorise the release of keys and send all necessary Title Deeds and documents to them.
11. On receipt of completion funds we will settle your existing mortgage in full, pay estate agents and place any indemnity policies on risk (if applicable).
12. Forward remaining sales proceeds to you – all done and dusted!
The seller will:
- Instruct Pearson Solicitors, return signed terms of business, pay fees on account and produce a valid ID.
- Assist your Conveyancer by fully answering any queries raised by the buyer’s Conveyancer.
- Sign contract, transfer and agree a completion date.
- Vacate your property and organise to handover the keys to the new owners via the estate agent
- Congratulations! You have now completed the sale!