Moving house is stressful at the best of times so it’s important you choose a conveyancer you can trust. Common issues people encounter include conveyancers taking a long time, not being responsive to calls and emails, and not being proactive with their updates.
Choosing a conveyancer that’s a good fit both in terms of their expertise and their communication style can make a world of difference in easing your experience.
In this guide we’ll cover what conveyancing is, how long it usually takes, and how to choose a good conveyancer. Whether you’re a first time buyer or a seasoned property investor, we hope this guide gives you confidence going forward.
What is conveyancing?
Conveyancing is the legal process of transferring property ownership from one party to another i.e. from the seller to the buyer.
Conveyancing aims to protect the interests of both buyers and sellers by ensuring that all necessary legal requirements are met and that the transfer of ownership is done properly. Conveyancers and Conveyancing Solicitors are required to act for both sellers and buyers when dealing with property, which is why it’s important to instruct a firm you feel confident and happy with.
Finding a firm you can trust to act in your best interest is the first part of the process.
What is involved in conveyancing?
The conveyancing process consists of several key stages, and each one is important in ensuring a successful transaction. The specific steps may vary depending on the nature of the transaction and any other factors, but here’s an overview of the typical process:
Offer and acceptance
The process begins with the buyer making an offer on the property which the seller can either accept, reject or negotiate. Once an offer is accepted the parties proceed to instruct their solicitors/conveyancers and any acting estate agent and a Memorandum of Sale is produced. This signals to the acting solicitors/conveyancers the details of the “other side” – i.e. the buyer’s solicitors on a sale, or the seller’s solicitors if you are buying. The legal work will begin at this stage.
Pre-exchange stage (review stage)
At this stage, the solicitors or conveyancers for both parties begin their due diligence on the property. This involves conducting searches, including local authority searches, environmental searches, water authority searches, mining and the necessary land registry searches. Following the review, enquiries would be raised with the seller’s representatives relative to the title and any paperwork provided by the seller. We would suggest the buyer also arranges a survey such as a Homebuyer survey to assess the condition of the property. The legal paperwork will not likely provide any details on the physical condition of the property so surveys are one of our biggest suggestions to any party buying property.
Exchange of contracts
Once all enquiries have been addressed, and both parties are satisfied, the contracts are formally exchanged. At this point the transaction becomes legally binding, and a 10% deposit is usually paid by the buyer tying them into the purchase.
Completion
On the agreed-upon completion date the balance of the purchase price is transferred from the buyer’s legal representatives to the seller’s legal representatives and ownership of the property is legally transferred, although the registration formalities do take some time following completion. The keys are handed over to the buyer, and they can take possession of the property.
Post-completion
After completion, the solicitors or conveyancers for both parties will handle any remaining administrative tasks, such as registering the transfer of ownership with the Land Registry and paying any outstanding fees or Stamp Duty Land Taxes.
This is a brief breakdown of a standard transaction – some transactions can require more involvement from the solicitors/conveyancers. Effective communication between all parties is essential to ensure a smooth and successful transaction. Having a knowledgeable and experienced conveyancer can also help to navigate any challenges or obstacles that may arise along the way.
Why do I need conveyancing?
If you’re getting a mortgage, as 70% of buyers do, your lender will require you to use a conveyancer or conveyancing solicitor.
Hiring a reputable conveyancer gives you peace of mind that your transaction will be handled properly and lawfully. We recommend using a firm accredited by the Law Society’s Conveyancing Quality Scheme, such as ourselves.
How long does the conveyancing process take?
This is the most asked question, but it’s unfortunately one of the most difficult to answer. Timescales vary depending on several factors, such as the complexity of the transaction, length of the chain, the efficiency of the conveyancer, and any unforeseen complications that may arise.
The national average is 12-16 weeks, although some transactions may be completed more quickly or may take longer. Especially if there are legal or financial complexities involved.
At Harold Stock and Co. we pride ourselves on our efficiency. If the factors mentioned above allow, we work hard to at a bare minimum achieve the average. But in the majority of cases we tend to be quicker than this.
As stated, every case is individual and timescales tend to be viewed on a case by case basis. Feel free to contact us and we’ll answer any questions you have. We may not be able to give you an exact time-frame but will do what we can to be realistic.
How to find a good conveyancing solicitor
Now you have a better understanding of what conveyancing is and why it’s needed, let’s talk about how to find a great conveyancer. With so many options out there it’s helpful to think about your needs and communication preferences.
Six signs of a great conveyancer and how to find them:
- Highly recommended: Ask friends, family, or your estate agent for recommendations. At Harold Stock & Co, the majority of our conveyancing work comes from clients who return to us after receiving great service on prior matters. Or previous clients refer their family or friends to us.
- Reputable and reliable: Research online reviews and testimonials from previous clients to gauge the reputation and reliability of the conveyancing solicitor or firm.
- Transparent: Choose a conveyancer who is transparent about their fees and provides a clear breakdown of costs upfront to avoid any surprises later on. Click here for our conveyancing fees.
- Experienced: Look for conveyancers with extensive experience in handling property transactions and a solid understanding of UK property laws.
- Accredited: Check if the conveyancer is a member of professional bodies such as the Solicitors Regulation Authority (SRA), which signifies their commitment to high standards of practice.
- Communicative: Effective communication is key during the conveyancing process. Ensure that your conveyancer is responsive and proactive – keeping you informed at every stage of the transaction.
What people say about our conveyancing team
We’re proud of our conveyancing team here at Harold Stock & Co. Clients praise them for being quick and communicative, something people value during the stressful period of buying or selling a home.
Here are some reviews for Lindsay, Rachael and Fiona:
We were very happy with the service provided and felt we were kept up to date with everything at each step of the way. We would like to say thank you to Lindsay as she was fantastic with getting everything completed for the date we needed despite the issues we had with the other parties. I was 36 weeks pregnant at the time and she was considerate to this to make sure I wasn’t getting stressed. She is a credit to your company. – C. Roberts
I chose Harold Stock after a recommendation to undertake conveyancing on the sale of my house and purchase of a new one. Having lived in a period Saddleworth house, this was a reasonably complicated transaction! But Rachael and the team were very familiar with the area and process, and I was reassured throughout that all was in hand. They were very prompt in ordering searches and answering enquiries – which I’m used to taking an age! And when things were more stressful near the end, they put in tremendous effort to get us over the finish line and moved successfully. Despite how busy the market has been, we moved from start-finish in less than 4 months. Thank you team!
We were so happy and surprised with Harold Stock and Co’s service when selling and purchasing our new home. We haven’t also had the best service from other Solicitors but Fiona Jackson and her team were brilliant. They kept us up to date on progress without having to chase them, were prompt and efficient with anything that popped up in the sale, and explained everything fully to us. We felt safe using Harold Stock and Co and would definitely use their services again and recommend them. – Mr and Mrs Pye
Conveyancing plays a pivotal role in property transactions in the UK by providing legal protection, peace of mind, and ensuring a smooth transfer of ownership. By understanding the process and choosing a reputable conveyancing solicitor, you can navigate the complexities of property transactions with confidence.
