The Conveyancing Process
With HLF Berry Solicitors, buying and selling is as easy as 1-2-3.
At HLF Berry Solicitors, we want to do what we can to make buying and selling your property as simple and stress-free as possible. Partner with us and your HLF Berry solicitor will advise you every step of the way to a successful property transaction.
To get you started, here is a basic guide to the conveyancing process:
Step one- Negotiating The Contract
- You have found a property or a buyer and agreed a price. Now it is time to instruct to your representative at HLF Berry Solicitors, who will negotiate the draft contract with the other party’s solicitor. This document contains all details of the transaction, including price, deposit and title deeds information.
- Once this is complete, your solicitor will send you a property information form to approve and perform the necessary searches, liaising with the other party’s solicitor on any queries.
- Once the contract has been agreed, a completion date (the date the property changes hands) is arranged and, if you are buying with the help of a mortgage, now is when you will need to get a formal mortgage offer from your lender.
Step two – Exchanging Contracts
- The deal is finalised at the moment that contracts are exchanged. If you are buying, this is when you pay the deposit.
- Your solicitor will prepare a draft transfer document, which is signed by both buyer and seller. Neither party can back out at this stage.
- Finalisation occurs when your solicitor arranges for the money to be available on completion and carries out final searches and enquiries, such as land registry checks.
Step three – Completion
- On the day of completion the buyer receives the title deeds and keys to the property. The seller must vacate the property.
- The seller is paid the balance of the purchase price. All land registry fees, stamp duty and legal fees will need to be paid at this stage.
- Your solicitor will tie up any loose ends, such as informing the relevant authorities of the change of ownership and send you a statement of completion with a full breakdown of all fees.