Our Conveyancing Team have a wealth of experience in the local market and will guide you through the legal process once an acceptable Offer has been received.
The Offer forms the first part of the Contract, and once all terms have been agreed between the parties, a Concluding Letter is issued to create a final and binding Contract.
This exchange of correspondence is known as the Missives and once the Missives have been concluded, the conveyancing process begins.
The Date of Settlement (being the date on which the purchase price is paid in exchange for delivery of the keys) is put in the original Offer and it is normally around 6–8 weeks after the date of Offer.
During the 6-8 week period, as well as making sure the Contract is in place, your Solicitor will request a Local Authority and Land Register Reports, which the Purchaser’s Solicitor will need to see.
The Deed to transfer title to the Purchaser will be prepared and you will be asked to sign this in good time.
Your Solicitor will contact your Lender to confirm the amount that is needed to repay your loan.
The loan is repaid from the sale price and your solicitor will make sure that the Registers show that there is no longer a loan outstanding by having a Discharge registered.
Your Solicitor will gather all of the documentation together, and obtain final Reports.
You may be asked to hand in a key, probably on the day before settlement.
It is usual that settlement will take place by lunchtime on the agreed date but there is no guarantee of this.
If you are also purchasing on the same day, the sale MUST go through first and the purchase will not be able to go ahead until arrangements have been made regarding funding.
Your Solicitor will arrange to have any outstanding invoices in connection with the Estate Agency and Conveyancing paid.
If the remaining funds are not needed in connection with a purchase, then the balance will be paid to you.
This is a brief outline only, and cannot cover every circumstance but we do strive to ensure that the conveyancing process is as simple and as stress-free as possible.
How we can help
If you have any questions about the legal process of sale / purchase of a property, feel free to contact us.
All initial enquiries are free of charge and without obligation.