Conveyancing Guides - Buying
Buying your property can be one of the most frustrating and confusing of times, whilst the various parties involved in the purchasing process deal with the different stages of the purchase process. For this reason Clear Conveyancing online have devised a walkthrough of the buying process in order to help and advise you of what is involved.
Phase 1: Purchase Agreed
You have found the property you wish to purchase and put an offer to the estate agent. It is now that your conveyancing solicitor will get involved in the process, and you should be getting quotes from various conveyancing solicitors, but if you send us the monies we request on account to carry out the searches, Clear Conveyancing can put those in hand immediately to speed up the process.. This whole process can take anything up to a month to complete.
We will also raise any additional enquiries and await the applicable responses. Subsequently we wait for any further search results and the mortgage offer, and follow any special instructions from the lender.
Phase 2: Exchange of Contracts
Once we are satisfied that everything is acceptable Clear Conveyancing will prepare a full property report which will be sent to you. You will also be asked to sign the contract, mortgage deed and provide a deposit. Completion dates for the transfer will be agreed at this stage at which time we can exchange contracts with the seller's solicitor. At this stage the sale is a legally binding agreement. Once contracts have exchanged Clear Conveyancing can prepare the final accounts and perform any final searches against the property and the purchaser that are still outstanding.
Phase 3: Completion
On the completion date Clear Conveyancing will hand over the balance of the funds and receive in return the title deeds from the seller's solicitors. If stamp duty is due to be paid, your conveyancing solicitor will arrange to register the transfer at the Land Registry. Once the title is registered we will supply a copy to you and send the confirmation to pay it for you and your lender.
Related LinksStamp Duty reduced!
Save up to £1,200. There is now no stamp duty
to pay when you purchase property under £120,000 (from 16/03/2005).
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Buying and selling?
Get 5% discount on both legal fees. You could save between £29 and £70! Get a quote
Conveyancing explained
What does a conveyancing solicitor do?
Clear Conveyancing (as your conveyancing solicitors) would act on behalf of you and your lender in order to ensure that all All legal aspects of the property transfer are dealt with properly by both parties involved and that both you and your lender are informed of any legal issues relating to the property that may affect its value.