Home » Guides » Conveyancing » Conveyancing process explained: for buyers
Conveyancing is the legal process of transferring home ownership from a seller to a buyer.
It starts when your offer on a house/flat is accepted and finishes when you receive the keys, save for a few loose ends that are tied up afterwards.
Understanding what is involved will help ensure that there are fewer surprises along the way for both parties.
You will need to get your mortgage in place. This will include ensuring that you have the finances available for a mortgage deposit. We will receive a copy of the offer and go through the conditions.
You will need to get a mortgage valuation. This is normally arranged by and carried out on behalf of the mortgage company so they know that the property provides sufficient security for the loan.
You may wish to have a structural survey done. This is an additional cost on top of the mortgage valuation if you have any concerns about the state of the property. You will need to arrange this with your mortgage company prior to the mortgage valuation so that both elements can be completed by the surveyor at the same time.
Prior to exchange of contracts taking place, your lender will require you to get buildings insurance for your new home and provide us with proof which we will pass on to your lender. You are responsible for the property as soon as contracts have been exchanged so it is in your interests to do so.
Your conveyancer will have been in correspondence with you about what is covered in the contract and will provide you with a final report outlining all the findings and elements of which you need to be aware. Before signing the contract, we will need to ensure;
Completion is normally around midday on the specified date, although in practice, it will take place when the seller’s solicitor confirms that they have received all the money that is due. Once this happens, the seller should drop the keys at the estate agent for your collection. You can then move in.
We will tie up all the registrations and payments including:
We would highly recommend that you keep all the paperwork from your purchase to file away and keep safe for when you move again.
Oliver & Co Solicitors Cheshire
Douglas House, 117 Foregate Street, Chester
Cheshire, CH1 1HE
Tel: 01244 312306
Email: law@oliverandco.co.uk
For over 50 years Oliver & Co have been providing expert legal advice to our clients.
Oliver & Co Solicitors is a trading name of Oliver & Co Solicitors Limited, a limited company registered in England and Wales (registered number 07034465) who are authorised and regulated by the Solicitors Regulation Authority, ref no. 533647. Our VAT number is 439 8429 07. A list of Directors is available for inspection at our offices.
Oliver & Co Solicitors Cheshire
Douglas House, 117 Foregate Street, Chester
Cheshire, CH1 1HE
Tel: 01244 312306
Email: law@oliverandco.co.uk
Since 1964 Oliver & Co have been providing expert legal advice to our clients.
Oliver & Co Solicitors is a trading name of Oliver & Co Solicitors Limited, a limited company registered in England and Wales (registered number 07034465) who are authorised and regulated by the Solicitors Regulation Authority, ref no. 533647. Our VAT number is 439 8429 07. A list of Directors is available for inspection at our offices.
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