Jacksons - Magazine - Page 32
Your step-by-step guide to
the conveyancing process
O
nce a sale has been agreed
and is in the hands of
your solicitor, it will
go through the following stages.
Sometimes additional work will
be needed – for example, if the
property is leasehold or is yet to be
registered with the Land Registry.
It is also important for buyers to
discuss the availability of their
deposit with their solicitor early
in the transaction, and we strongly
recommend that you contact your
solicitor regularly so that they can
keep you fully up-to-date with the
progress and the latest timescales.
Seller’s solicitor’s steps
• Obtain a copy of the Title Deeds (or
of昀椀ce copies if the title is registered)
• Obtain a copy of the Energy
Performance Certi昀椀cate (EPC) (if
applicable)
• The seller(s) will return a completed
Property Information Form and a
Fixtures, Fittings and Contents Form to
the solicitors
• Copies of the above documents, plus
a draft contract – this is known as an
‘Information Pack’ – will be sent to
the buyer’s solicitor
• Answer the buyer’s solicitor’s
additional enquiries (for example,
speci昀椀c questions about 昀椀xtures and
昀椀ttings) and obtain copies of any
planning consent documents
• Agree the contract and arrange for the
sellers to sign it in readiness of the
exchange (below)
• All parties agree completion dates and
the contracts are exchanged
Between exchange and
completion
• Obtain redemption 昀椀gures from
the mortgage lender and reply to
requisitions on title
• Approve the transfer and arrange for
the seller(s) and buyer(s) to sign
• Receive the agent’s fee account and
seek the seller’s consent to settle this
out of completion funds
Completion date
This is the date the ownership of the
property passes from the seller to the
buyer, and it follows the successful
transfer of funds. It’s the date that the
whole process works towards.
Upon completion
• Receive completion funds and (only
when this has been completed)
instruct your estate agent to
release the keys to buyers. Redeem
mortgage and forward the 昀椀nancial
statement. Forward any surplus funds
(unless these are being used to fund
an onward purchase). Ensure all
outstanding bills are paid
• Forward transfer documents and
deeds to the buyer’s solicitors
• Forward evidence of ‘discharge of
mortgage’ to the buyer’s solicitors
