Buying a house sounds simple, but with so much jargon and so many processes involved, it can be trickier than expected. Conveyancing is one process that often leaves first-time buyers scratching their heads, which is why we are here to explain all about conveyancing and the process, so you will know what conveyancing is when buying a house.
1. What does it even mean?
Conveyancing is a legal term. It refers to the process of buying and/or selling residential properties. Conveyancers are people who are qualified and licensed to provide help with the conveyancing process. Solicitors and legal executives can also help with this process, but conveyancers have the best in-depth knowledge.
2. What do conveyancers do?
Conveyancers’ services vary, which is why we at the Conveyancing Store offer a hassle-free experience for getting quotes from qualified conveyancers. Some conveyances also prefer to serve just one type of customer, for example, just those selling their properties, whereas others will offer services to all.
Conveyancers work with estate agents and their counterparts to arrange the transfer of property from the seller to the buyer. They can help make the process smoother and arrange searches, checks and tests for your property. They can also advise you on many aspects of the property, which can be particularly useful for first-time buyers. Conveyancers are experienced in scrutinising reports on properties and identifying issues that may cause issues for the buyer further down the line. This service can make hiring a conveyancer a great investment.
3. What happens during the conveyancing process?
Usually, once you have hired a conveyancer, the majority of the process is carried out between the estate agent and the two parties’ conveyancers. This includes enquiries on planning and building regulations, searches on the land registry and coal mining records and so on. Once these checks have been carried out each conveyancer will give their party a report on their findings.
Once the report is received a contract will be sent out to sign. When this is completed, it is then a case of waiting for the mortgage offer to come through. A special copy of this is also sent to the conveyancer. Once this comes through, the conveyancer will confirm that they are satisfied that there is no legal reason that the property cannot be purchased and therefore it should go ahead. Once this happens, the buyer then confirms that they are happy to go ahead and the conveyancers commit to purchase the property on the buyer’s behalf. This is when moving dates are confirmed by all parties and the mortgage is drawn on.
From this day onwards, the property now belongs to the buyer. The conveyancer will file all of the relevant documents and ensure that any duty due is paid. When the deeds are received these will also be registered with the Land Registry to update the owner.