Residential conveyancing is a vital aspect of the property purchase process. Buying or selling a home is an exciting (and sometimes stressful) time, but the legal process is complex and requires an expert’s touch.
Residential conveyancing is the key step in buying or selling a property, and it takes you from simply agreeing on a price for a house to actually owning it.
Let’s dive into exactly what residential conveyancing solicitors do, and why you need us.
What is residential conveyancing?
Residential conveyancing refers to all legal work that’s needed to change the ownership of a property from one person to another.
The residential conveyancing process begins once an offer has been accepted on a property, and it ends when contracts have been exchanged and money transferred between the two parties involved.
Buying or selling a property can be an extremely stressful time, and the legal side of things can be complicated. This is why it’s so important to obtain the services of a trusted residential conveyancing team.
They can navigate all the complex legal issues you may not understand, helping ensure the property transaction goes smoothly.
Key stages of the residential conveyancing process:
- Offer accepted and solicitor/conveyancer instructed.
- Initial paperwork, ID verification, and source-of-funds checks.
- Contract pack issued (seller’s side) and reviewed (buyer’s side).
- Property searches ordered and enquiries raised.
- Mortgage offer received and reviewed.
- Signing documents and agreeing completion date.
- Exchange of contracts (legally binding).
- Mortgage funds released, purchase/sale completed, and keys released.
- Post-completion: Stamp Duty Land Tax (if applicable) and Land Registry registration.
Why do you need residential conveyancing?
Anybody buying or selling a property will require the services of a conveyancing solicitor because they know exactly what’s needed in every situation. If you’re buying a property, your solicitor will liaise with the seller’s solicitor to ensure every aspect of the transaction is legally correct.
Failure to obtain the services of expert conveyancing solicitors could put property transactions at risk of falling through – and nobody wants that.
When do you need residential property conveyancing?
Residential conveyancing is required for more than simply buying or selling a home. You’ll also need residential conveyancing services for:
- Buying or selling a freehold or leasehold home
- Remortgaging a property
- Transfer of equity (adding/removing someone from the title, e.g. after marriage or separation)
- Shared ownership or staircasing
- Buying a new-build property
What does a residential conveyancer do?
Residential conveyancing solicitors can act on both sides of property transactions. The roles are similar, but they differ at key points in the process. Let’s break it down.
For buyers
- Receive the files, check the contents of the files
- Verify the identities and the source of the funds
- Review the draft contract packs, title documents and any leaseholds
- Order and review local authority, drainage and environmental searches
- Liaise with the mortgage lenders and review any mortgage offers or conditions
- Consult with the seller’s solicitor on searches and documents
- Report to the buyer on any issues with the property or mortgage offer
- Exchange contracts and arrange completion, including the deposit and balance transfer
- Finally, they will register your ownership and change the title deeds
For sellers
- Obtain title documents and prepare the contract pack
- Provide property information forms, fittings and contents form, and supporting documents, like warranties, planning, building regulations, and Energy Performance Certificate (EPC)
- Answer enquiries raised by the buyer’s solicitor
- Handle mortgage redemption and transfer of funds on the completion date
Speak to residential conveyancing solicitors at St Helen’s Law
Are you in the process of buying a house and need the services of expert solicitors? At St Helen’s Law, we can help you.
We understand your needs and deal with every transaction as soon as we can. By using the latest technology, we can keep you informed throughout the entire conveyancing process.
We don’t insist that you come into our office to sign paperwork, because we know that’s not always convenient.
We also won’t leave any hidden extras in our package; the quote we give you at the start of the process is the price you’ll pay. Ready to get the residential property conveyancing process started? Get in touch with our expert team by calling 01744 385171.