Is this your first time purchasing a house? You've done the due diligence, but the conveyancing processes are proving to be too much of a task?
We understand your plight!
Even for pros, conveyancing stages can be confusing. The reason is that every home purchase comes with unique challenges. Nevertheless, conveyancing processes follow an almost identical sequence. And we have simplified them for you into six snackable steps.
Have a look!
Conveyancing Made Easy In 6 Snackable & Sequential Steps
Hire The Services Of A Conveyancing Solicitor
By now, you have searched and settled on your ideal home. The chances are that you have tendered a purchase offer which the sellers have even accepted.
But don't purchase just yet!
Hire a representative: a conveyancing solicitor. When you do, he will be the one to complete the purchase process legally.
We understand that you might wonder what importance a solicitor offers you. Here it is:
Your seller probably has his solicitor that will only engage with yours. Besides, there are legal documents that only a solicitor will understand.
So, hire a solicitor! When you do, he will receive the said documents. Some of the vitals here include:
- Contract pack - contains information about lease and type of ownership.
- Property information form - contains boundary disputes and settlements, environmental issues, guarantees, planning permission, and warranties.
- Fittings and content form - contains the inbuilt items that you will purchase, such as blinds and floorings.
Another consideration here is mortgage purchases. If you're purchasing your house on mortgage, the accepted offer is also best handled by a solicitor.
Survey The Home
Understandably, you can't wait to finalize the home purchase. Before you do, carry out a survey.
While a home survey might not necessarily be a legal requirement, it will help you decide the final price of your desired house. The process is even more crucial if you're buying a listed property.
You never can tell why the owner listed the home to start. So, do an assessment! With one, you will know the repairs you will make - if any.
And in the case that the repair cost is more than you can bear, you might decide against buying the home. But in most cases, it won't come to that; you would only reassess and renegotiate the pricing of the house.
After your independent survey, the next phase is engaging your hired solicitor to carry out his. How?
Engage Your Solicitor To Perform A Property Inquiry
Often called "searches," property inquiries involve the assessment of your desired home as regards legal risks. This inquiry is one of the duties of your conveyancing solicitor.
So, before you pay the due fee for your ideal home, pedal down, and let your solicitor find information on:
- Agreement and conflicts with the local authority,
- Environmental issues,
- Drainage challenges - water and flood,
- Mining and planning searches, and
- Repair liabilities
After the searches, your hired solicitor will critically analyze the results to ensure there are no discrepancies. Should there be any issue, he will help you correct it and give you a green pass.
Now, You Can Exchange Contracts With The Home Seller
After the "searches," your hired solicitor will yet find more additional issues that might affect you in the future. If there's none, he will then guide you through the completion statement, transfer & mortgage deed.
Even after signing the said documents, your conveyancing solicitor will do a final check. Here, he will see if the land register is firm and binding with no changes. If yes, he will forward your signed contract to the seller's solicitor.
Pro tip: take time to research your desired home before sending the contracts. That is because once you send the documents, there is no turning back.
Complete Your Home Purchase
By now, you would have deposited the upfront. Now is the time to complete it and get the transfer deed.
On the completion day, the final payment is also the duty of your solicitor. Once he pays, you will get the signed transfer deed and other vital documents.
If you had purchased through a mortgage, the process might be longer since your solicitor will first ask the lender for the money. And such could take time - depending on the mortgage company.
Stamp Duties & Land Registry
After the completion day, your solicitor will pay stamp duty to revenue and customs. It might not be applicable in your case, but make preparations for it.
Besides stamp duties, your conveyancing solicitor will also register you with the Land Registry as the new owner of the house. This stage usually happens within a max of 30day from completion day.
Note: if you bought the house through a mortgage, your lender is the one to receive the title deeds.
The conveyancing process looks simple now, or doesn't it? You can make it even more comfortable when you hire us!
At Voeuk Conveyancing, our solicitors are experienced and dedicated.
We have been in the business for over a decade, and we have recorded commendable successful home purchases in that time.
The best part: we offer free quotes to our customers. You can request yours here to start!