The process of transferring the legal ownership of property or land from one person to another.
Conveyancing is very time consuming and complex, so you will need to employ either a solicitor or a licensed conveyancer to do it for you.
Here are our top tips on choosing and using a conveyancer…
Once you have appointed a conveyancer, you will need to…
In England and Wales, Exchange of Contracts is the last stage of the legal process after which a buyer cannot pull out (without losing their deposit).
When copies of signed contracts are exchanged between the buyer's conveyancer and the seller's conveyancer.
A date for completion is usually set for at least two weeks after the exchange date, giving you time to arrange removals. Your conveyancer will call your agent to tell them when the buyer's money has arrived so they can give the keys to the new owner.
Check the conveyancer's completion statement carefully - it should reflect the original quotation.
In Scotland, the legal process is slightly different and buyers are committed at an earlier stage.
Here, the seller usually sets a guide price and interested buyers put in bids and suggested completion dates. Once the seller accepts their preferred bid, there is a compensation penalty to be paid if one of the parties changes their minds. For this reason, buyers need to have arranged a mortgage before they put in a bid.
Unlike in England and Wales, many conveyancing solicitors in Scotland also have an estate agency part to their business.
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