How do i buy a house, what is the conveyancing process when buying a house?
The conveyancing process can be very confusing and people do not sometime understand the process even after buying or selling a property. The main complaint throughout the process is it being very time consuming. Here at My Conveyancing Specialist we are here to make the process as simple and fast as possible.
Below is a Step by Step guide to the Conveyancing Process when Busing a property, it is a good idea to get familiar with this process if you are thinking of buying a property.
My Conveyancing Specialist Conveyancing – Buying a house
Step 1 – Receive a free, instant quotation
The first step is for you to fill out our quick and easy form to receive a free quotation. We are available to speak with you regarding the quotation and discuss any questions you may have.
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Step 2 – Instructing a Conveyancer
The second step is you choosing My Conveyancing Specialist, once you are happy with your quotation you can begin the conveyancing process by instructing us to carry out your conveyancing. This is where you will be asked to complete some paperwork and provide us with the standard documents, such as ID. This is also where we will request funds for any searches needed.
Step 3 – Draft contract
At this stage we will request and receive the draft contract completed by the seller’s solicitor/conveyancer. This will include all the relevant forms and documents for the property being sold.
Step 4 – Searches and investigation of title
At this stage we will review all the paperwork received from the seller’s solicitor/conveyancer and we will carry out any searches that have been requested by yourself. If any issues or queries are raised at this stage we will contact the seller’s solicitor/conveyancer to rectify the problems.
Step 5 – Report
This is the stage where we will create a report on the property being sold, we will collate all the information received along with your mortgage offer. You will receive a completion statement at this stage with the total amount due from you.
Step 6 – Signing
This stage is ready to commence when you are happy with the paperwork and you are ready to sign and a completion date is then decided amongst all parties involved in the transaction. This stage in the conveyancing process is where you will transfer the deposit that allows us to arrange the exchange of contracts.
Step 7 – Exchange of contracts
The completion date and the property transaction at this stage becomes legally binding once the contracts have been exchanged. The despots will be sent to the seller’s solicitor/conveyancer and your mortgage advance will be paid by your lender.
Step 8 –Buying a house
This is the final stage where the full purchase price is transferred to the seller’s solicitor/conveyancer. The keys are normally left with the party selling the house (Estate Agent) and once the seller’s solicitor has received the funds the keys are released to you.