In order for a typical conveyancing process for the purchase of a property to be completed successfully, there are certain tasks which will need to be carried out by you and your conveyancer. Most conveyancing processes have a typical timescale of four to six weeks as there are a number to tasks that will have to be completed by different parties. Once you see a property that you like and would like to purchase, you will need to make an offer. If the seller agrees with the offer, you can then proceed with getting your mortgage approved. Your conveyancer will then contact the conveyancer of the seller to obtain the contract pack.
While you are arranging the building insurance, your conveyancer will make sure that the local authority searches are carried out. He or she will then proceed to review the contents of the contract, mortgage offer and the local authority searches and will provide you with a detailed report which you will be required to review.
It is important that you have any misunderstandings cleared up with your conveyancer at this stage so that the contracts can be signed and you can proceed with agreeing on a completion date. Once your conveyancer is convinced that you are satisfied and are ready to proceed, he or she will contact and inform the seller’s solicitor.
You will then be required to provide your conveyancer with the deposit. Once the seller has received the signed contracts and the deposits, you can move on to completion. At this stage, you nor the seller can back out. The sale must continue otherwise the party that backs out will be faced with financial consequences.
During the completion stage, the completion statement will be prepared by your conveyancer as you arrange a removals service and take care of other details such as making sure that you have made the necessary arrangement with the utility companies. Your conveyancer will proceed with the transfer deed which you will be required to sign.
Your conveyancer will then request the rest of the money from your mortgage provider and will send the full payment to the seller’s solicitor after which you will receive the title deed and transfer deed as well as the keys to your new home. You can then move in whenever you want to.