- Instruct your conveyancing provider early on
As soon as you make an offer on your dream home the first thing you should do is instruct your chosen conveyancing provider.
Remember, choosing the right conveyancing lawyer for you can really speed up your moving process.
Also, the earlier you contact your conveyancing provider, the more conveyancing work they can do up front.
- You've made your offer...now to get moving!
First things first - fill in the starter pack! This contains some vital information for your conveyancing lawyer, such as property details, some personal information and your bank details.
It's likely that you've already had an offer in principle from a mortgage provider, stating how much they're prepared to lend you. You'll need to discuss turning this into a solid mortgage offer with your financial adviser. You're conveyancing lawyer will receive a copy of this and check through for any special conditions and to verify that all the details are correct.
Your mortgage lender will carry out a basic valuation of the property, but you should consider commissioning your own survey.
For more information on the different type of surveys, click here to visit our conveyancing glossary.
- The conveyancing process
Your conveyancing lawyer will receive the contract pack from the seller's conveyancer, and any relevant searches will be requested. This information is thoroughly examined to make sure your ideal home is just that!
Your conveyancer will raise any enquiries with the seller's conveyancing provider, before sending you a report containing information about the title and a preliminary draft of the contract.
You'll need to read the contract carefully before signing it and returning it to your conveyancing lawyer.
Finally, any outstanding issues with searches, contracts and the mortgage are resolved and you'll need to hand over your deposit ready to exchange!
- Exchange and Completion
Your conveyancing lawyer will exchange contracts with the seller's conveyancer, and will agree a completion date.
This is the moment when your move becomes legally binding and the seller is obliged to sell you the property on the completion date.
On the day of completion your conveyancing lawyer will send the balance of the purchase price to the sellers conveyancer.
- You can now move into your new home!
But the work doesn't stop there for your conveyancer. They'll need to complete the last few bits of the conveyancing process, such as paying Stamp Duty on your behalf and letting the Land Registry know you're the new owner of the property.
Once all this is done, you'll be sent a copy of the title information document.
The conveyancing process is complete and you're the proud owner of a new home!
Remember, if you're unsure of any of the terms used in our Spotlight on Conveyancing, click here to visit our handy guides and conveyancing glossary.
Chris C Fleming invites you to get a great value conveyancing service from 1st Property Lawyers. They offer high quality conveyancing, taking care of the legal side of moving in an innovative a proactive way - everything a traditional high street Solicitor would do for a move, but much more too.
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