Conveyancing is a vital process of buying and selling a house. At Compare My Move, we strive to make moving house as stress-free as possible. That’s why we work hard to share everything you need to know about the conveyancing process in this guide on conveyancing.
Conveyancing can seem daunting, so before you hire a conveyancer, you should have a basic understanding of what is conveyancing. Our guide begins with a detailed look at everything you should know about conveyancing and the process.
Finding the right conveyancer or solicitor doesn't need to be difficult and our in-depth article will help you spot the signs of a good conveyancer. We only work with licensed conveyancers and conveyancing solicitors that are SRA, CLC, LSS, LSNI or CILEx regulated to give you peace of mind.
The conveyancing process for buying a house can take between 8-12 weeks. Although it can seem daunting, especially if you’re a first-time buyer, it’s important that you get to grips with the legal jargon before you find a conveyancer. The conveyancing process for selling a house differs slightly to buying, so it's vital you are aware of the timeline. We'll take an in-depth look at the process and how you can speed things up to avoid any delays in your move.
By having all the important information in one place, with a focus on what is conveyancing, finding the right conveyancer, and the process for buying and selling, you will be fully prepared for your conveyancing processs. After reading through the complete guide, we hope you’ll feel confident about what to expect when hiring a conveyancer.
Conveyancing is the legal process that transfers ownership of a property from the seller to the buyer. A licensed conveyancer or a conveyancing solicitor will work on behalf of the buyer or seller to make sure the necessary contracts and documents are signed and transferred.
The conveyancing process begins as soon as an offer is accepted on a house and will end after the legal documents are exchanged, when the seller receives the final funds and the buyer receives the keys.
A conveyancer or conveyancing solicitor will aid you through the legal process of buying or selling a property. You must hire a conveyancer once you’ve made an offer on a house or have had your offer accepted.
Despite being able to complete the conveyancing process yourself, it’s highly advised you hire a trusted, qualified and experienced conveyancer as it’s often a difficult and complicated process to get through. In this article, we will explain exactly what a conveyancer does, why they’re important and how you can find a reliable and licensed conveyancer to help you with your transaction.
Conveyancing searches are enquiries that your conveyancer will make to different authorities to learn about the property you plan to buy. Conveyancing searches are only necessary when you are buying a house, not selling. The main conveyancing searches are local authority searches, water and property searches and environmental searches.
Conveyancing searches are designed to inform your mortgage lender that the property won’t lose its value. These searches will also give you more information about the area and the property itself, playing a decisive factor in whether you go ahead with the purchase.
To find a reputable licensed conveyancer or conveyancing solicitor, you should ensure they are SRA, CLC, LSS or LSNI regulated. The best way to find a verified and trustworthy conveyancer is to use a comparison website such as Compare My Move. We have a network of regulated and trusted conveyancers who are monitored closely by our hard-working team. Other methods such as family recommendations and word of mouth are useful in finding a trustworthy conveyancer, too.
When searching for a conveyancer, keep in mind that the industry is competitive. Be wary if a conveyancer is offering their services at a low price. Look for a company that offers a ‘fixed-fee’ service as this means you will pre-arrange a fixed price for the job. Make sure they offer a 'no sale, no fee' service so you won't be charged legal fees if the sale was to fall through.
The Solicitors Regulation Authority (SRA) is the official regulatory body for conveyancing solicitors in England and Wales. If you see a conveyancer regulated by the SRA, you will have peace of mind that they will perform to a high standard.
Compare My Move only work with conveyancers that are regualted by the SRA, CLC, LSNI and LSS.
The conveyancing process takes between 8 and 12 weeks. Yet, the conveyancing timescale can vary depending on if you are part of a property chain or not and if you are buying and selling or buying or selling. Conveyancing for selling a house will take less time than buying as you don’t need conveyancing searches and will be chain-free.
Conveyancing takes time as each step of the process must be completed correctly to avoid further delay. To avoid a delay in your conveyancing case, you should instruct your conveyancer to begin the conveyancing process once your offer has been accepted or you’ve accepted an offer from a buyer.
You will need a licensed conveyancer for both buying and selling property. The process is slightly different if you’re buying as you’ll require property searches, making the conveyancing process for buying a house more expensive.
Compare My Move work with property experts to bring you informative moving house advice. This guide will give a detailed look at the conveyancing process for buying a property to ensure you’re fully prepared for the conveyancing process.
Conveyancing is a vital process when selling a house. The process is slightly different if you’re selling as you don’t need property searches, making conveyancing for selling a house a cheaper process.
Compare My Move work with a range of property experts to bring you up to date conveyancing advice. This guide will give an in-depth look at the conveyancing process for selling a property, ensuring you’re fully prepared for the conveyancing process
The new build conveyancing process is different and more complex compared to conveyancing for previously owned properties. To start the transaction and make an offer, you’ll have to reserve the property by paying a reservation fee.
This is often non-refundable but deducted from the final price. The property will normally be reserved for 28 days once this has been paid and then the conveyancing process must begin immediately.
The average conveyancing costs for buying a house is £1,040, and the average conveyancing costs for selling a house is £1,000. These are the legal fees associated with buying and selling the average UK house priced at £234,370, and include 20% VAT.
These costs are an average and your conveyancing costs will vary depending on the conveyancer you choose and the price of the property you are buying or selling.
After the exchange of contracts, all parties involved are legally bound to the contract and must adhere to its terms. Pulling out of a property sale or purchase after this stage could result in serious legal or financial penalties.
When you sign and exchange contracts, you are legally committing to the transaction. You can pull out of a house sale or purchase at any point before this stage in England and Wales. In Scotland, however, you are only able to pull out of a property sale before the conclusion of missives. In this article, we will explain when it is possible to pull out of a property sale or purchase and how to do so successfully.
Vacant possession means that the property in question will be empty by the completion of the sale. If a property is being sold with vacant possession then the sellers or tenants must move out and remove all of their personal belongings by completion day. Anything left within the home must be items that have already been agreed upon with the buyer and written into the contract.
Compare My Move works alongside a number of professional property and finance experts, creating insightful guides to help you through the moving process. If you’re currently in the process of buying or selling a house, you may already recognise the term ‘vacant possession’. In this article, we will explain precisely what that means for you, why it’s important and when it should be given.
Conveyancing disbursements are part of your conveyancing costs and are made up of fees that your conveyancer pays for third-party services. Your conveyancer will pay for the services on your behalf.
Conveyancing fees will be made up of part legal fees for your conveyancer and part disbursements for the additional services your conveyancer has to carry out. You will need to pay disbursements for both buying and selling a house, although you won’t have to pay as many for selling.
There are a number of conveyancing fees that you will encounter when buying or selling a house. One such costs could be an engrossment fee. Ana engrossment fee is a fee that your conveyancer or conveyancing solicitor will charge you when making a genuine and legalised copy of the legal documents for signature. An example of this would be the lease when purchasing a flat or leasehold property.
Compare My Move work with professional property and finance experts to create insightful guides that will aid you through your house purchase. In this article, we will explain what an engrossment fee is, when you should expect to come in contact with one and why it must be paid.
Fixed fee conveyancing is when a conveyancer offers their service at a fixed rate instead of an hourly rate. The price quoted at the beginning of the conveyancing process should remain the same and not go up in price.
Fixed fee conveyancing is common throughout the UK, with very few conveyancers still offering an hourly rate conveyancing service. With a fixed fee conveyancing quote, you’ll know exactly how much you need to factor into your moving budget.
“No Sale No Fee Conveyancing” is a sales agreement from a conveyancer which means if the sale or purchase of the property falls through, you won’t have to pay their legal fees. Be aware that this does not mean that you will not incur any costs if the sale fails to complete. Any costs from third parties incurred on your behalf, for example for searches and surveys, will need to be paid to your conveyancer regardless of the outcome of the sale.
Online conveyancing works the same as traditional conveyancing, but the major difference is that it will take place online or over the phone. There are notable benefits to using an online conveyancer such as quicker transactions, a cheaper price tag and easily trackable progress.
Yet, online conveyancing does come with its downsides. Online conveyancing will lack the personal touch that you get with traditional conveyancing, and, most of the time, the company will be dealing with a heavy workload so you’ll have to deal with different conveyancers.
It’s not recommended, but you can do conveyancing without hiring a conveyancer. But, if you’re a buyer or seller using a mortgage lender, then it’s usually impossible to complete the process without using a regulated conveyancer. Unless you are legally confident to understand the jargon and the paperwork, you should hire a conveyancer.
If you’re buying or selling a property without a mortgage or outstanding mortgage, then you will have the option to do the conveyancing yourself. If you still decide to continue alone, ensure you research the process well and are familiar with the tasks at hand.
At Compare My Move, we have a strong network of verified licensed conveyancers and conveyancing solicitors who can help with your move. We are proud to work with some of the best conveyancing companies across the UK.
All of our conveyancing partners go through a strict verification process before they’re allowed to join. We’ve put together this guide so you can learn more about our best conveyancing solicitors and licensed conveyancers that work with Compare My Move. Based on their 5-star reviews, here are our top 5 conveyancing partners.
