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Understanding the Conveyancing Process for Property Sales

The conveyancing process is a crucial aspect of selling a property in England and Wales. It involves legal and administrative steps to transfer ownership from the seller to the buyer. In this blog, we will provide an overview of the conveyancing process for property sales in England and Wales, helping you understand the key stages involved.

  1. Instruction of a Solicitor/Conveyancer:

The process begins with the seller instructing a solicitor or conveyancer to handle the legal aspects of the sale. The solicitor will act on behalf of the seller, ensuring all legal requirements are met.

  1. Drafting the Contract:

The solicitor prepares the draft contract, which includes details about the property, the agreed sale price, and any additional terms and conditions. The contract is usually subject to a set of Standard Conditions of Sale drawn up by The Law Society. The contract is sent to the buyer’s solicitor for review normally with the tile papers to the property.

  1. Property Information Forms:

The seller completes property information forms, providing details about, for example, the property’s boundaries, fixtures and fittings and any ongoing disputes or planning permissions. These forms help the buyer make an informed decision.

  1. Title Check and Searches:

The buyer’s solicitor conducts various searches, including local authority searches, environmental searches and water and drainage searches. These searches ensure there are no issues affecting the property, such as planning restrictions or potential liabilities.

  1. Raise and Respond to Enquiries:

The buyer’s solicitor raises any necessary enquiries based on the information provided by the seller. The seller’s solicitor responds to these enquiries, addressing any concerns or providing additional information as required. Thus is the step that tends to take the mist time in the conveyancing process, especially if the property is leasehold. We often need to obtain information from the Landlord, managing agents, management company, their solicitors or a combination of some or all of them. The enquiries for a leasehold property are usually in respect of service charges (such as accounts, confirmation that everything is up to date and confirmation that no major works are planned likely to increase the said service charge), ground rent (for example, is the account up to date and are any increases planned) and insurance to make sure that appropriate insurance is in place for the building. In addition we ascertain the requirements and fees to register the buyer with the Landlord, managing agent’s, management company and/or their solicitors.

  1. Mortgage and Finance:

If the buyer requires a mortgage, they will work with their lender or a mortgage broker or financial advisor to secure the necessary financing. The lender may conduct a valuation survey to assess the property’s value and suitability for the loan.

  1. Exchange of Contracts:

Once all enquiries are satisfactorily answered and both parties are ready to proceed, the buyer and seller sign the contract. At this stage, a deposit (usually 10% of the purchase price) is paid by the buyer. The exchange of contracts legally binds both parties to the transaction. Exchange of contracts is usually agreed between the buyer’s and seller’s solicitors over the telephone with undertakings that each lawyer will send their counterpart their client’s part of the contract in the post or DX (a form of post used by lawyers).

  1. Completion:

Completion is the final stage of the conveyancing process. The buyer’s solicitor transfers the remaining funds to the seller’s solicitor and the property ownership is officially transferred. The keys are handed over to the buyer and the seller vacates the property.

  1. Post-Completion:

The buyer’s solicitor registers the change of ownership with the Land Registry and pays any applicable stamp duty. The seller’s solicitor settles any outstanding mortgage, provides evidence of the same to the buyer’s solicitor when received from the lender and distributes the sale proceeds to the seller.

The conveyancing process for property sales in England and Wales involves several important stages, from instructing a solicitor to completing the transaction. It is crucial to work with experienced professionals who can guide you through the process, ensuring all legal requirements are met and the sale proceeds smoothly. By understanding the conveyancing process, you can navigate the sale of your property with confidence and peace of mind.

If you are looking to sell and in need of conveyancing why not give one of Alexander JLO’s specialist property lawyers a call on 020 7537 7000 or email quote@london-law.co.uk for a free, no-obligation quotation. Come and see what we can do for you.

This blog was prepared by Alexander JLO’s property partner Matt Johnson. Matt has many years of experience of dealing with property work and specialises in new build and shared ownership properties.  His profile on the independent Review Solicitor website and be found Here