Navigating the conveyancing process when selling your property can be quite complex. But, knowing what the process entails first can help you ensure a smoother transaction.
So, in this article, Conveyancing Paralegal Jade Baker has outlined the conveyancing process for selling from beginning to end and the costs involved.
What are the steps in the conveyancing process when selling a house?
Below, I’ve outlined the sale conveyancing process from case creation to completion…
Case Creation
At this stage the file will be dealt with by our admin team who will prepare the file before handing over to the case handler. You will also be asked to do the following:
- Sign and return the Letter of Engagement and Terms of Business.
- Complete the sale property information form to confirm your personal details
- Complete the Law Society Protocol forms, which are the Fittings and Contents, Property Information and Leasehold Information form if applicable.
- Once initial forms have been returned you will be asked to provide identification, usually via Thirdfort.
- Once sufficient ID has been provided, we can accept initial funds on account which will be used to cover third party costs.
- During this stage the estate agent will provide a memorandum of sale which will include the buyer’s details and their solicitors contact details.
Contract Pack
Once the above administrative stage has been completed, the file will be passed over to the case handler who will then issue a contract pack to the buyer’s solicitor.
The contract pack includes the below:
- Draft Contract and Transfer for approval.
- Title document/deeds which have been obtained from the Land Registry
- Law Society Protocol Forms.
- Energy Performance Certified;
- Supporting documents such as any guarantees, building regulations certificates and service records.
- If appliable the contract will also include the grant of probate or an LPA.
If the property is leasehold, we will provide the buyers solicitor with the lease, Law Society Leasehold Information form and a Leasehold Property Enquiries Form (LPE1) which we will obtain from the Freeholder/managing agent.
An LPE1 includes service charge accounts, budgets and relevant information with regards to how the property is managed.
Related: What documents and disclosures do you need when selling your home?
Pre-exchange
During pre-exchange:
- The draft contract will be reviewed by the buyer’s solicitor.
- If you have a mortgage, we will request an interim redemption statement from your lender.
- The buyer’s solicitor will begin to raise enquiries on the information they have received, some of the enquiries will be referred to the client for assistance. Some enquiries may need to be referred to various third parties such as the management company if leasehold.
- Once the buyer’s solicitor has approved the draft contract and transfer, we will send them to the you for signature. The documents will not be dated until exchange/completion and will be held on file in readiness.
Exchange
Once all parties have confirmed they are satisfied and are in a position to exchange, the chain will begin to discuss dates.
Once everyone in the chain has agreed a date and is ready to exchange, we will take your verbal authority for exchange on the day and completion on the date set.
At exchange, a completion date will be agreed on between the seller and the buyer, via their solicitors. A completion date is not agreed until the whole chain is ready to exchange.
The signed contract will then be dated and become legally binding.
Pre-completion
After exchange is pre-completion, which is where your solicitor will provide a bill and completion statement, they will also request a final redemption statement for the completion date.
Completion
The last step in the conveyancing process is completion!
Your solicitor will advise you as soon as they have received the completion funds and the transaction is complete, the keys will then be released to the buyer via the estate agent.
The redemption amount will be sent to the lender, if agreed any third party fees such as agents fees will also be paid as well as our fees. The remaining balance will be transferred to you on the day of completion.
How long does conveyancing take when selling a house?
For straightforward conveyancing matters, the transaction is usually able to complete within 8-12 weeks of an offer to sale the property being agreed.
Sometimes, delays may extend the process, for example, if there are any issues with the legal title. However, we will always act as swiftly as possible and keep you informed of any issues which could delay completion.
Do I have to use a solicitor to sell my house?
No, you don’t have to use a solicitor to sell your house and can do the conveyancing yourself.
However, the buyer’s mortgage lender and solicitor could well insist you instruct a solicitor or pull out of the transaction if not.
This is because many mortgage lenders are often reluctant to lend on properties where the seller is unrepresented as they see it as a risk, and many law firms will only act where the seller is represented.
In addition, there are some risks that come with DIY conveyancing.
What are the risks of selling a house without a solicitor?
Aside from the transaction potentially falling through due to lender and solicitor policies, DIY conveyancing also comes with other risks.
Firstly, conveyancing is complex. You would have to prepare contracts, liaise with the buyers' solicitor and follow the correct legal steps all by yourself. DIY conveyancing can therefore often lead to costly errors.
Lastly, you won’t have the legal protection or insurance that you get by instructing a solicitor.
We would always advise instructing a solicitor when selling your home to ensure an easy, risk-free transaction.
What are the costs of conveyancing when selling a house?
Conveyancing costs are generally fixed provided that your solicitor obtains all the necessary information at the outset.
At Frettens, our conveyancing costs are dependent on the value of the property, whether the property is Freehold or Leasehold and whether there is a mortgage in place.
If you would like a tailored quote, please don’t hesitate to contact a member of our bright team on 01202 499255.
I’ve sold my house, what now?
Firstly, if you haven’t already, you’ll want to find a new home! We’ve provided advice on how to find a property and how to know what you can afford in a separate article here.
Next, you can put in an offer and start the process of buying!
You can read out entire guide to buying a new home, from day one to moving day, here.
Although the guide originally aimed to help first-time buyers, we’ve had even the most experienced homebuyers use it as a refresher.
Related: How does the conveyancing process work when purchasing?
Specialist Conveyancing Solicitors
Our bright and experienced Conveyancing Team is one of the largest in the area, and they would be happy to assist you in the sale of your home and purchase of a new one! Please feel free to direct any questions our way.
To get in touch, you can call us on 01202 499255 or fill out the form at the top of this page. We offer a free initial chat for all new clients.
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