When you are selling or buying a property you instruct a buying property solicitor to perform the conveyancing for you, without conveyancing the buy of the property can’t be completed. You chose a solicitor or conveyancing firm and then sit back and bite your nails. It is often the most frustrating time during the process of moving home. You are anxious to know what is happening with the sale or buy and why it appears to be taking so long.
I will outline briefly what happens at the solicitors in the conveyancing process. The first stage is you writing to your buying property solicitor to instruct them to act on your behalf during the sale of your home. The solicitor will then respond with a letter care laying out their duties to you.
Justify Full Once this letter has been returned then the procedure will begin in earnest. You will receive fixtures and fittings, property information and/or lease hold information sheets that you have to complete and return. This will form the basis of the contract that will be exchanged between you and the purchaser. Once this initial stage has been completed then the solicitor will request the copies of your title deeds from your mortgage provider and the land registry. This can often be a slow process and to have copies of your deeds to hand will greatly speed up the process. It is often worth requesting these from your mortgage provider when you decide to put your property on the market.
With the title deeds and land registry details in their possession your property solicitor can draw up the draft contract and send it to the buyers solicitors. This will then be pasted onto the purchases for their approval. The buyer’s legal team will then return the contract and ask any questions that have arisen. At this stage the contract can often be rewritten. You solicitor will ask seek conformation that the buyers mortgage has been approved.
Once the contract issues have been ironed out the final contracts are sent and a provisional date for exchange is agreed. The final stage is the swapping of signed contracts and the collection and retention of the buyer deposit. Once this is completed you are free to move out of your old property and hopefully if the process has been completed on the purchase of your new property into your new one.
Source: What Does a Conveyancing Solicitor Do?
No comments:
Post a Comment