GUIDE

The Conveyancing process can be broken down into 3 main stages.

You can use the following as a check list to assist you keep track of your progress:

Stage A: BEFORE EXCHANGE OF CONTRACTS
Stage B: EXCHANGE OF CONTRACTS
Stage C: COMPLETION

Stage A: BEFORE EXCHANGE OF CONTRACTS

Seller's conveyancer

• Asks you to complete information forms
• Obtains your title deeds and sends out contract with legal information
• Answers additional enquiries (if any)
• Asks you to sign contract and agree a completion date

Buyer's conveyancer

• Requests clients instructions and money on account of expenses
• Receives contract, copy deeds, plan and info from seller's conveyancer and asks additional enquiries if necessary
• Sends local authority and any other relevant searches
• Receives mortgage offer from lender
• Reports to you on info and sends contract for signature, requests deposit (or uses deposit from sale-if any), agrees completion date with sellers conveyancer and confirms ready to exchange contracts

Stage B: EXCHANGE OF CONTRACTS

Seller's conveyancer

• Receives buyer's deposit and signed contract from buyer's conveyancer
• Obtains redemption (settlement) figure for your mortgage
• Approves Transfer deed and arranges for you to sign it before completion date

Buyer's conveyancer

• Sends signed contract and deposit to seller's conveyancer
• Prepares transfer deed and mortgage deed and sends them to you to sign
• Carries out final searches
• Prepares final accounts and requests any monies payable by you before the completion date

Stage C: COMPLETION

Seller's conveyancer

• Receives balance of sale monies and notifies seller and estate agent
• Pays off outstanding mortgage
• Forwards Deeds and Transfer document to buyer's conveyancer
• Sends balance to you or puts towards purchase (if any)

Buyer's conveyancer

• Sends balance of money to seller's conveyancer
• Pays stamp duty (if applicable)
• Deals with all registration requirements at H.M.Land Registry
• Sends deeds to bank or building Society (if any)