The conveyancing process when purchasing a house
The following conveyancing steps occur when you buy a house.
- Your solicitor obtains a purchase contract from the sellers' solicitors, with details of the property and its ownership.
- pre-contract enquires are sorted out and copies of any existing guarantees, planning consents, etc are obtained.
- A list of the sellers' fixtures and fittings will be provided list to see what will be left in the property.You will get a copy to check.
- When your mortgage offer has been confirmed you will sign the exchange contract and hand over your deposit to your solicitor to hold in readiness for "exchange".
- When the mortgage conditions have been met and the sellers are ready to proceed, a completion date is agreed that suits everyone in the chain.
- Contracts are exchanged and the transfer deed effected.
- The mortgage advance is called down from your lender and a final completion statement is prepared.
- On completion day, your conveyancer pays the required amount to the sellers' solicitors in exchange for the title deeds. You can now move into your new home.
- Your conveyancer will now register your name and mortgage at H.M. Land Registry and send the deeds to your lender for them to hold as security for their mortgage advance.