Timescales
A sale or a purchase transaction will usually take between six and twelve weeks between when a sale is agreed and an exchange of contracts, but how long any conveyancing transaction takes depends upon a number of factors, such as the number of parties in a chain, obtaining searches and the need for additional queries about properties etc., and the estimated timescales given below are approximate. Where a sale and a purchase are combined the process may be longer due to delay by other parties in the chain. Leasehold transactions can also take longer due to the need for additional information from third parties. A remortgage transaction not involving a sale or purchase is likely to be at the lower end of the timescale.
Stages in the process and services included
Purchase transactions:
A broad outline of the work and stages involved are is:
- Verifying your identity to meet regulatory requirements
- Obtaining property information from your sellers
- Carrying out searches and checking that the sellers have a good title
- Agreeing the terms of the contracts for the purchase
- If you have a mortgage, acting for your lenders to make sure that their interests are properly protected
- When everyone is ready, and the moving date has been agreed, exchanging contracts – this is the stage at which you are committed to the move and pay the deposit if this applies
- Making the pre-Completion legal arrangements and checks
- Getting any mortgage money from your lender and any balance we will need from you
- Overseeing the Completion stage when you become the owner of the property
- After Completion, registering your ownership at the Land Registry – we will let you know when we receive your certificate of ownership
Sale transactions:
Broadly speaking the main areas of work and stages involved are:-
- Verifying your identity to meet regulatory requirements
- Supplying information to your buyers about the property
- Agreeing the terms of the contracts for the sale
- Exchanging contracts – this is the stage at which you are committed to move and to sell the property
- Making the pre-completion legal arrangements and checks
- Overseeing the Completion stage and receiving the purchase money
- After Completion, paying off your mortgage (if any) and sending any surplus to you or alternatively transferring the balance to your purchase file
Our conveyancing service does not include any physical check by us of the condition of a property or the position of boundaries, and clients will need to their own inspection.
See here for information about conveyancing costs and charges
We are accredited members of the Law Society Conveyancing Quality Scheme (CQS) CQS and follow the Protocol for residential conveyancing.
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