Whether you are buying or selling a property for the first time or if you have been through the process before, there is still much you may not be aware of when it comes to conveyancing. For that reason, we have put together a guide to help answer your questions and give you peace of mind.
First and foremost, you must contact a conveyancer no matter which side of the transaction you fall under. They will help chaperone you throughout each stage as follows.
Conveyancing as a Seller
If you are selling, you must contact Energy Performance Certificate surveyors before the house enters the market. As the name may suggest, this demonstrates how efficient the property is with a rating from A to G (A being the most efficient).
Your conveyancer will give you documents to complete about the property to ensure you provide the correct information. In the meantime, your conveyancer will obtain Office Copy Entries from HM Land Registry in order to draft a contract.
After a completion date has been agreed by all parties, the contracts are exchanged. If you are not purchasing another property and able to do so, we recommend you move out at least a few days before the completion date to avoid any last-minute panic.
Conveyancing as a Buyer
If you are buying, your conveyancer will carry out searches on your property and will review your mortgage offer to avoid any unwanted surprises. You will be asked to go through documents completed by the seller to make sure everything is in order.
If you are having a mortgage, a surveyor will carry out a valuation on the property to ensure it meets the lender’s loan to value requirements.
>For anti-money laundering requirements, you are required to prove your source of funds or wealth to ensure you have the means to pay for the property.
Your conveyancer will raise enquiries on your behalf and when everything is in order, you should be able to sign the contract and gain an appropriate completion date for moving.
Length of the Process
Overall, the process can take between 12 and 16 weeks; the lengthiest part will be waiting for search results to come back from the provider and dealing with any subsequent enquiries to ensure all parties are satisfied.
Bowsers provides expert conveyancing services from our offices in March and Wisbech, Cambridgeshire and will ensure that you can buy or sell a house with as little stress as possible. For more information, get in touch with us today.
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