What is conveyancing?
Conveyancing is the process of passing ownership of a property from the seller to the buyer.
Who carries out the conveyancing?
A conveyancer or conveyancing solicitor – if you're interested in a property and have had an offer accepted, you should instruct a conveyancer to get the process started.
You can find more information on licensed conveyancers here
You can find solicitors who specialise in conveyancing here
What does a conveyancer do?
The conveyancer or solicitor will draw up the contracts that allow you to buy a property. When you have made an offer on a property and had it accepted, the conveyancers exchange contracts.
Normally, a ten percent deposit is payable upon exchange of contracts – this binds you to go through with the sale otherwise the deposit will be lost. A completion date is also set at this time – this is the date at which the property is legally owned by the buyer.
The conveyancer will ensure:
- The seller really is the seller
- The property isn't affected by local council plans
- The final searches have all been carried out
- The money is transferred from the buyer to the seller
- The documents are all transferred into the buyer's name
E-conveyancing
To speed up the whole process of conveyancing, the Land Registry is setting up a system where it can all be done online. It's still in the early stages but for more information, see the Land Registry's e-conveyancing portal here