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CONVEYANCING GUIDE
CONVEYANCING, MADE EASY.
At Esvi, we’re dedicated to making the conveyancing process as smooth, straightforward and stress-free as possible for our clients.
We clearly explain each stage of the process, ensuring our clients understand what to expect and keeping them regularly updated on progress.
Our proactive approach means we anticipate potential issues, address queries promptly and work closely with all parties to keep transactions moving forward. We believe that clear communication, attention to detail and a commitment to client care are key to delivering a positive conveyancing experience.
FOR SELLERS
5. Sign Documentation
Your conveyancer will provide you with documentation for signing. Please note that some firms accept an electronic signature whilst most firms require you to sign these documents in pen. During this stage your conveyancer may also propose dates for exchange and completion for you to approve.
2. Prepare Draft Contracts
Once you have provided your legal reprenstative with the required documentation and fee, they will begin to prepare the draft contract documentation and may ask you for documentation to confirm your ownership. At this stage they obtain an interim redemption statement if there is a mortgage over the property.
3. Issue Draft Contracts
Your conveyancer will then provide the buyer's conveyancer with all of the required documentation including the documentation which you will need to sign later on in the transaction. Please ensure that you have provided any and all documentation that you hold for the property so that the next stage of the process is as smooth as possible.
4. Raise Enquiries
Upon receipt of the draft contract documentation the buyer's conveyancer will request searches and raise any questions concerning the property as is necessary. Your conveyancver may forward some of these questions to you for you to answer or may ask you to take action, for instance, conducting a boiler service prior to completion.
1. Confirm Instructions
Appoint a conveyancing solicitor to manage the legal aspects of selling your property and confirm their details to the estate agent. Once you have instructed a conveyancer they will issue you with a client care letter, require you to provide ID and complete documentation necessary to the transaction. Please ensure that all information completed within these forms is accurate.
6. Exchange and Completion
Depending on the arrangements, you may exchange before you complete. If this is the case then 'completion date' is the date on which the transaction will complete and you will receive the funds. Please see the FAQ for an explanation on exchange and completion or otherwise send us a message for a free consultation.
FOR BUYERS
5. Confirm Dates
Your conveyancer will liaise with the other side in terms of dates for exchange and completion. Speak with your conveyancer to confirm if you will exchange and completed on the same day or exchange beforehand. Ensure that you have provided all documentation along with the required money in order to exchange. Your conveyancer will provide you with a statement to confirm all costs for the transaction.
2. Complete Requirements
Ensure that you have provided your mortgage lender with your conveyancer's details if you are purchasing with a mortgage. At this stage in the transaction your conveyancer may still be waiting to receive the draft contract documentation from the seller's conveyancer and may ask for your proof of funds (evidence to verify your funds).
3. Searches and Enquiries
Your conveyancer will use the monies that you have paid on account to request searches. This is mandatory if you are purchasing with a mortgage but optional if you are purchasing without one. Your conveyancer may wait for the searches to return before raising enquiries. Further enquiries will need to be raised.If the property is of a leasehold nature.
4. Finalise Enquiries and Report
Upon satisfaction of the enquiries your conveyancer will provide you with the documentation for signing along with the report on title that covers all information surrounding the property and your purchase, from legal access rights to information covering your mortgage offer. To facilitate a smooth transaction please ensure that you provided all other information (such as AML evidence) to your conveyancer.
1. Confirm Instructions
Appoint a conveyancing solicitor to manage the legal aspects of selling your property and confirm their details to the estate agent. Once you have instructed a conveyancer they will issue you with a client care letter, require you to provide ID and information relevant to the transaction. Please ensure that all information provided is accurate.
6. Exchange and Completion
Depending on the arrangements, you may exchange before you complete. If this is the case then 'completion date' is the date on which the transaction will complete and you will receive the keys to the property. Please see the FAQ for an explanation on exchange and completion or otherwise send us a message for a free consultation.
LEASEHOLD
We're on a mission to change the way the housing market works. Rather than offering one service or another, we want to combine as many and make our clients' lives easy and carefree. Our goal is to match our clients with the perfect properties that fit their tastes, needs, and budgets.
FREEHOLD
We're on a mission to change the way the housing market works. Rather than offering one service or another, we want to combine as many and make our clients' lives easy and carefree. Our goal is to match our clients with the perfect properties that fit their tastes, needs, and budgets.
FREQUENTLY ASKED QUESTIONS
Do I need a solicitor/conveyancing for buying and/or selling a house?
Yes. You will need to appoint a legal representative who will deal with your property transactions who will deal aspects such as raising the draft contract documentation on your sale or raising searches and enquiries on your purchase. Instructing a legal representative is important to protect your interests especially to ensure that your ownership of the property is registered correctly if you are purchasing.
How long does the process take?
Straightforward transactions are typically expected to take around 8-12 weeks though we aim for completion within 6 to 9 weeks where possible. More complex transaction would take longer than 12 weeks. There are a number of factors that would affect the time it takes to complete such as :
How many other transaction are involved (if you are selling to someone who is also selling their property in order to purchase yours and buying from someone who is also buying from another party - this is known as the chain)
If there any mortgage lenders involved and how long it may take to issue the mortgage offers
If any legal issues are encountered with the property
Search return times
What is Exchange and Completion?
Exchange is the point where contracts are exchanged and the transaction becomes legally binding and Completion is the day on which the funds and keys are handed over. Up until exchange you have the option to withdraw from the transaction however once contracts have been exchanged you must proceed with transaction and can incur a financial penalty for not doing so.
You have the option to exchange before completion (this can either a day, week or a month before) or exchange and complete on the same day (simultaneous exchange and completion). With a simultaneous exchange and completion there is less risk as contracts tend to be exchanged only after receiving the full balances of money.
What are your costs?
Quotations are priced individually per matter and are calcuated based on factors such as the property price, whether the property is freehold or leasehold and whether a management company is involved
How can I contact you?
You can reach us by on the number or e-mail address at the top or bottom of this page or alternatively complete our Contact form and we will respond as soon as possible (we aim to respond to all messages and enquiries within a 24 hours period).
What is meant by Freehold and Leasehold?
Freehold means you own the property and the land it stands on indefinitely. Leasehold means you own the right to use the property for a fixed period, such as 99 or 125 years, but the land/building is owned by a freeholder and at the least a management company is involved. Leasehold properties may also involve service charges & ground rent (payable yearly) and restrictions set out in the lease.
What is a 'chain'?
A chain is when there is more than one transaction involved. For example, you are buying from a person who is also buying onwards. You are at the bottom of the chain and the person who is only selling is at the top of the chain.
What is Stamp Duty Land Tax (SDLT)?
SDLT is a government tax payable on property transactions. First Time Buyers do not need to pay any SDLT so long as the purchase price does not exceed £300,000.00 and higher rates of SDLT are applicable if you are purchasing more than one property in your name. See the informational sheet for further information. Please do always consult your financial advisor on SDLT.
Can I still sell my property if I have a mortgage?
Yes. Your conveyancer will arrange for a redemption statement to confirm the amount payable to clear the mortgage upon completion. Depending on how long the mortgage has been over the property you may have to pay an Early Repayment Charge (ERC), please check this with your lender.
Phone
07306 69 63 63
This website is owned and operated by Esvi Limited, registered in England and Wales, company number 16281685.
Esvi Limited is not authorised or regulated by the Solicitors Regulation Authority (SRA).
Our legal professionals provide our services through the solicitor's firm, Parity Legal Limited, which is authorised and regulated by the SRA under ID Number 658977.