INEA Homepage
Homepage
Residential Sales
Residential Sales
  Lettings
Lettings
  Commercial
Commercial
  New Developments
New Developments
  Overseas
Overseas
 
Holiday Lets
Your Currency

Property Search
Location:
Property Type:
Minimum Price:
Maximum Price:
Minimum Bedrooms:
Added In:
Order By:
Find in Description:
Search

Residential Sales

Conveyance Guide

Conveyance Guide

There are three main stages involved in any conveyancing transaction and we have set out below a summary of what each solicitor does at each stage.

First Stage: Sale Agreed

Sellers solicitor
·
Applies for your title deeds and asks you to fill in enquiry forms
· Prepares a contract and sends this out with a legal information pack
· Answers any additional enquiries buyers solicitor may have
· Negotiates the moving (completion) date


Buyers solicitor
· Asks you for money on account of expenses
· Receives contract and other papers from sellers solicitor and
  asks additional enquiries if necessary
· Carries out local authority search
· Receives mortgage offer
· Reports to you with contract for signature and requests deposit
 (or uses deposit from sale - if any)

Second Stage: Exchange of Contracts
Sellers solicitor
· Receives the buyer's deposit
· Obtains a settlement figure for your mortgage
· Approves the transfer deed and arranges for you to sign it


Buyers solicitor

· Sends contract and deposit to seller's solicitor
· Prepares transfer and mortgage deed and sends them to you to sign
· Arranges final searches
· Prepares final accounts and requests any monies required from you

Third Stage: Completion
Sellers solicitor
· Receives balance of purchase price
· Pays off the mortgage
· Hands over the deeds
· Sends you the balance or uses this towards purchase (if any)

Buyers solicitor

· Sends balance to sellers solicitor and collects deeds
· Pays stamp duty (if any)
· Registers purchase at Land Registry
· Sends deeds to Bank or Building Society (if any)

 

Advert


Featured Agent
Brighter Moves
Bridgend
0800 043 1995
Click for more

INEA