A step by step guide to conveyancing
- Once you have confirmed you wish us to represent you we will open a file and send out initial papers to you. We will need you to accept our Terms of Business and let us have evidence of your ID. We will also ask you to complete a Property Information and Fittings and Contents Form which form part of the Contract pack. These forms provide general information about your property and will be provided to the buyer’s solicitors. You may need to supply papers to accompany this such as guarantees, planning permission, building regulations approval etc so you might want to start getting these together.
- We will then obtain copies of your title deeds from the Land Registry. Sometimes your title may refer to other documents we need to obtain. If this is the case these will cost an extra £3 per document. We will then prepare the Contract between you and your buyer based on the title information received from the Land Registry and submit this to the buyer’s solicitors along with copies of the title, the forms provided by you and any other relevant supporting documentation.
- We will then post you the Contract and Transfer Deed for your signature which we will then hold on file until such time as your Buyer is ready to proceed. We send this to you at the outset so we are ready to exchange just as soon as the Buyer is and delays are not then caused. Please do not worry about signing so early, it doesn’t commit you to the sale which comes later when we ask for your authority to exchange contracts.
- It is then for the Buyers Solicitors to raise any enquiries as a result of the title papers and their search results. We will deal with these but we may need to ask for your assistance in answering these enquiries in order to provide satisfactory responses.
- Once all enquiries are dealt with, any mortgage offer is in place for your Buyer and search results have been received by the Buyers Solicitors then completion dates would be discussed. This is either via ourselves, your estate agent or between yourself and the Buyer directly. Once this is agreed and the Buyers Solicitors are ready to exchange contracts we would speak with you and obtain your authority to exchange contracts. Once that happens the sale is legally binding upon both parties and the completion date is fixed.
- We will request a redemption statement from your mortgage company (if applicable) made up to the date of completion and request an invoice from your estate agent (if applicable), we will let you have copies of both of these for your approval. We will then prepare a statement showing the financial transactions and any balance due from or to you.
- On completion, once the monies have been received from the buyer’s solicitors we will notify you and authorise the estate agents to release the keys. We will also arrange to redeem your mortgage and discharge our fees and those of the estate agents and account to you with any balance due.
Do you have a question or need a conveyoncer?
Get in touch today:
Call today on 01226 210000
MKB Solicitors is a leading law firm based in Barnsley with a long established reputation and extensive specialist expertise in the areas of Family Law (including care proceedings and proceedings involving Social Services), Property, Commercial, Wills, Trusts & Future Planning, Personal Injury, Employment and Dispute Resolution.
