The Conveyancing Process
1. INITIAL STEPS
SELLER’S SOLICITOR
BUYER’S SOLICITOR
On instructions from the Seller,
prepares sale package,
including title documents.
Meets Buyer to take initial instructions
and requests funds for searches.
Sends Contract and Lease
to Buyer’s Solicitor.
(1) Receives sale package.
(2) Makes pre-contract searches,
sends local search to Council
and investigates title.
(3) Receives mortgage offer
direct from Lender.
BUYER’S SOLICITOR
SELLER’S SOLICITOR
Sends preliminary enquiries and
mortgage offer to Seller’s Solicitors
and confirms approval of draft Lease.
(1) Receives preliminary enquiries
and requests approval of
mortgage offer from Seller.
(2) Receives confirmation that
mortgage offer is approved
from Seller.
(1) Receives replies and
engrossed documentation.
(1) Replies to preliminary enquiries.
(2) Reports to Buyer on
additional information.
(2) Sends approval of mortgage
offer and engrossed Contract
and Lease to Buyer’s Solicitor.
(3) Arranges signing of Contract
and Lease by Buyer.
(3) Arranges signing of Contract
and Lease by Seller.
(4) Obtains deposit of 10%
of purchase price from Buyer.
Confirms to Seller’s Solicitor when
ready and proposes completion date.
Agrees completion date
with Buyer’s Solicitor.
SELLER’S SOLICITOR
BUYER’S SOLICITOR
2. EXCHANGE OF CONTRACTS
The transaction becomes legally binding
on buyer and seller.
Sends completion statement showing
completion funds needed from Buyer
for completion, including balance
of purchase price, apportioned
payments of rent and service
charge to Buyer’s Solicitor.
Accounts to Buyer and requests funds
for completion. Arranges for mortgage
money to be available on completion.
Makes and receives results of final
searches of Land Registry.
BUYER’S SOLICITOR
SELLER’S SOLICITOR
3. COMPLETION
The day the legal transaction is finished
Sends completion funds
to Seller’s Solicitor.
Receives completion funds and
confirms receipt with Buyer’s Solicitor.
Contacts Seller and authorises
release of keys.
(1) Confirms completion with Buyer.
(2) Pays stamp duty and registers
Buyer’s purchase.
Confirms completion and key release
to Buyer’s Solicitor.
(3) Notifies lender.
For more information call Westward Housing on 01803 217580
This information is subject to change, and is intended for illustration only. Consequently, it should be treated as general and cannot be relied
upon as accurately describing any of the specified matters prescribed, nor do the contents constitute a contract, part of a contract or warranty.