What is Conveyancing?
What is conveyancing?
Moving house is something that we typically only do a few times in our lives. If you have never bought a house before, the whole process can seem quite confusing and a little intimidating. You start to hear a lot of new words and terms and it’s easy to quickly feel out of your depth!
A key part of moving house is conveyancing, but what does conveyancing mean?
Conveyancing is a legal process
Conveyancing refers to the legal process of transferring the ownership of property from one person to another. It is an essential part of buying or selling property, ensuring that the transaction is legally binding and that the rights and interests of both parties are protected.
The conveyancing process typically involves several key steps:
- Pre-contract stage: This involves gathering and reviewing relevant documents, such as property deeds, title registers, and planning permissions. The buyer’s solicitor will also conduct searches to identify any potential issues that may affect the property, such as planning restrictions or outstanding debts.
- Drafting and reviewing contracts: Once the necessary information has been gathered, the buyer’s solicitor will draft a contract that outlines the terms and conditions of the property sale. The seller’s solicitor will review the contract and negotiate any necessary changes.
- Preparing and exchanging contracts: Once the contract has been finalised, the buyer and seller will sign identical copies. These signed contracts are then exchanged, becoming legally binding. At this point, the buyer usually pays a deposit, which is typically a percentage of the property’s purchase price.
- Completion: On the agreed completion date, the buyer’s solicitor will transfer the remaining funds to the seller’s solicitor. Once the funds are received, the seller will hand over the keys to the property, and the buyer becomes the legal owner.
- Post-completion: Following completion, the buyer’s solicitor will register the change of ownership with the Land Registry and handle any outstanding matters, such as paying stamp duty (a tax on property purchases) and settling any outstanding fees.
Choose a solicitor who is proactive
The conveyancing process can be time-consuming, and it can cause a lot of stress to people, especially if they are in a chain and there are multiple people in the chain relying on the process going through smoothly and quickly.
It is important to choose a solicitor to handle your conveyancing that is experienced and able to manage the process for you in a pro-active manner. Good communication is key to keeping stress levels under control, you need to be kept informed every step of the way. Having a solicitor who is approachable and communicative and keen to develop a good relationship with you will help the whole process be less daunting.
At Levins we pride ourselves on being friendly, approachable, and proactive. We put the needs of our clients at the centre of what we do, you’ll never be just another transaction to us.
Levins can help
Our property department is full of highly experienced staff who will work hard to get the job done. They ensure that all legal requirements are met, protect the interests of their clients, and facilitate a smooth and secure property transfer process.
If you are thinking of moving house, or buying your first home, get in touch to see how we can help. You can use our handy conveyancing calculator to give you an estimate of the costs involved: Conveyancing Calculator