Here at Regency Property Nuneaton, we know the conveyancing process can be a daunting prospect.
With so much to consider when selling a house, Regency Property, your Nuneaton-based estate agent, is here to guide you through every step of the residential sales process. Our sole aim is to support you every step of the way with good communication and fast responses. Just remember; we are here to help with any concerns or questions you may have.
What does a conveyancer do?
- Drafting the contract
- Liaise with mortgage lenders
- Helping to deal with enquiries that buyers/ sellers or their solicitor may have
- Approving the Land Registry Transfer
- Communicate with other solicitors and the estate agents
Here is a 10 step guide to help you along the way, however, don’t forget- your agent is there to help you every step of the way from start to finish.
If you have any questions please do not hesitate to get in touch.
10 Step Conveyancing Process
- Terms and price agreed through your agent. Both parties now need to instruct a conveyancer if they have not already done so. Some sellers choose to (and we would advise them to) instruct their conveyancer when going on the market. This means all the initial forms have been completed and your file sits in obeyance with your conveyancer. This will save time and stress once you have agreed a sale.
- The seller’s conveyancer prepares a draft contract for the buyer’s solicitor to approve. This is not the final contract, it is a draft only. This, along with other documentation, forms the contractual pack.
- The buyer’s conveyancer checks the terms of the contract (amongst other things)
- The buyer’s conveyancer conducts searches and checks the results, they check the mortgage offer. The buyer’s solicitor and agent liaise with other solicitors in a chain to ensure readiness.
- Contracts are sent to buyer and seller for signature. Once returned they are checked and a completion date is agreed and set.
- The buyers conveyancer prepares a transfer deed and sends it to the sellers conveyancer for their approval. It is then signed in readiness for completion.
- The buyer’s conveyancer will liaise with the mortgage provider to ensure funds can and will be available on the agreed completion date.
- On completion day those funds are sent from the buyer’s conveyancer to the sellers conveyancer and when received the purchase is complete.
- On completion day the sellers conveyancer will settle any outstanding mortgage, charges against the property, their own invoice and that of the agent (if instructed to do so).
- The buyers conveyancer will arrange payment of any stamp duty due and will register the buyer as the new legal owner of the property with H M Land Registry.
We know we make it sound super easy. At present (As at February 2021) this entire process can take an average of 15 weeks depending on the chain involved and other factors including, but not exclusive to, leasehold properties and commercial mortgages (just as examples) can take a little longer.
Your agent is there to help you through every step of this process.