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Conveyance Solicitor

Conveyance Solicitor

The whole legal and administrative process is probably the main reason why property purchases take such a long time.

Although as a house seller there are less administrative issues you have to bother about, it is still recommended that you hire a professional conveyance solicitor or conveyancer. The legal aspect is highly important, and you should not run the risk of inaccuracies that might cost you dear later on. Since conveyancing takes on average 2 to 3 months, it is safe to get a solicitor as soon as you decide to sell your house.

  • The Stages

As a seller, your administrative duties are not as extensive as the buyer’s. Still, you will need to get a solicitor as soon as you accept an offer in order to take care of the following tasks:

Sale agreement

The conveyance solicitor will exchange contact details and letters specifying the particulars of the sale.

Title deeds

Your solicitor will have to obtain the property title deeds for the lender. They will be sent back to your solicitor at a later stage.

Property information form

List of all the details to be included in the draft contract. Have to be checked and approved both by you and the buyer’s solicitor.

Answer purchaser inquiries

The buyer’s solicitor will send a list with questions concerning property details, tenure, utilities, items to be included in the sale etc. to your solicitor. This should erase any ambiguities as early as possible.

Draft contract

Your solicitor might have done this as soon as you instructed him. This is not a standard contract and will probably be changed quite a lot before you sign it. The draft consists of two parts: The Particulars of Sale spell out property details and items to be included in the sale. The Conditions of Sale concern the proposed completion date and deposit required on exchange of contracts. As soon as the title deeds are returned, your solicitor will send the draft contract to the buyer’s solicitor. When the completion date and the terms of the draft contract have been agreed by the solicitors, it will be sent to you for approval. As soon as approved, the standard contracts will be set up and sent to you for signature.

Sign contract

After signing it, send the contract back to your solicitor. Remember that until contracts have been exchanged, the whole thing is not legally binding!

Exchange of contracts

Now there is no way back. Each party signs all the contracts and sends them back. It is done. Receive deposit.You will now receive the buyer’s deposit, if there is one.

Transfer of money

The buyer’s mortgage lender will send the money to your solicitor by electronic transfer.

Transfer of deeds

Now you are no longer the owner of the house.

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