The residential conveyancing team at Hathaways Law explain the full process when buying and selling your property.
* The sellers’ Conveyancer requests title deeds from the sellers’ lender, prepares contracts for the sale of the property and sends them to the buyers’ Conveyancer.
*The buyers’ conveyancer reviews contracts and title information, submit searches and raises any queries with the sellers’ Conveyancer.
*Search results and replies to enquiries will arrive with the buyers’ Conveyancer. Depending on the responses to searches and queries, the buyers’ Conveyancer may require more information. The Buyers Conveyancer will also report to their client at this point.
*The buyer’s Mortgage Offer arrives and is checked by the buyers’ Conveyancer and a letter explaining the offer will be sent to the purchaser along with the Mortgage Deed for signature.
*A report is prepared for the buyers with Transfer and Contract for signature. Sellers are also now sent the Transfer and Contract for signature.
*Contracts are exchanged, any deposit monies are sent to the seller’s Conveyancer, and a moving date is fixed.
*The buyers’ Conveyancer pays the Stamp Duty Land Tax to the Inland Revenue and registers the buyer as the new property owner.
The process can take between four to six weeks but of course can take longer and in some cases could be shorter.
If you are thinking about buying or selling a property, Hathaways Law are happy to assist. Please call our residential conveyancing team on 0191 482 8700 or email firstname.lastname@example.org.