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Conveyancing: Purchase |
Conveyancing Guides |
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Conveyancing when Buying a propertyWhen buying a property, a Conveyancer will be appointed to complete the Conveyancing process for the sale. Step 1Once your offer has been accepted and the sale agreed, your Conveyancer will await the receipt of the pre-contract information pack from the seller’s solicitor. Once this has been received, you are able to apply for any searches to take place, such as a Local Authority Search. This can take up to four weeks to complete. Any queries you have which you want to raise with the Seller can also be addressed at this stage. The results from the searches carried out will also be reviewed and your mortgage offer will be discussed. Step 2Once all the searches have come back, your Conveyancer will prepare a report on the property which will be sent to you. If you are happy with the report, you will be requested to sign the contract and mortgaged deed and put down a deposit. The completion dates for the sale will also be discussed and agreed at this stage. The exchange of contracts will take place and the sale will then be legally binding. Your Conveyancer then prepares the final accounts and carries out any required searches on the property and yourself. Stage 3The final stage involves the remaining funds being handed over on the date of completion, in exchange for the title deeds. If stamp duty is required to be paid then this will be done, and your Conveyancer will register the transfer at the Land Registry. As soon as the title has been registered, a copy will be sent to you and your lender. |
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