Conveyancing is the legal process of transferring property ownership. Whether buying or selling, it involves multiple steps to ensure the transaction is secure and compliant with regulations. At Millennium Legal, we simplify the journey, ensuring clarity and support every step of the way.
1. Instruction
This step involves formally engaging our services. We’ll gather your details, verify your identity, and outline the scope of work in a client care letter. You’ll also provide property information forms and documentation like the title deeds.
Key Tip: Prepare essential documents early to avoid delays.
2. Drafting Contracts
We’ll prepare or review the draft contract and provide key information to the other party’s solicitor. This includes details about the property’s legal title, boundaries, and any conditions of sale. If you’re selling, we’ll clarify any warranties or guarantees.
Note: This is the foundation of the transaction, so accuracy is critical.
3. Searches and Enquiries
We conduct essential property searches, such as:
- Local Authority Search: Check for planning issues or restrictions.
- Environmental Search: Identify risks like flooding or contamination.
- Water/Drainage Search: Verify utility connections.
We also address buyer questions about the property to ensure full disclosure.
Did You Know? These searches protect you from unforeseen complications post-purchase.4. Exchange of Contracts
This legally binds both parties to the sale. Before this stage:
- The buyer arranges a mortgage and secures deposit funds.
- Both parties agree on the completion date.
Once signed, contracts are exchanged, and neither party can withdraw without financial penalties.
Pro Tip: Double-check all details to avoid surprises after exchange.
5. Completion
On completion day:
- The balance of the purchase price is transferred to the seller.
- The buyer receives the keys and ownership officially transfers.
Our team coordinates with estate agents, banks, and other solicitors to ensure a smooth handover.
Fun Fact: Completion often happens at midday!
6. Post-Completion
We handle the final legal requirements:
- Pay Stamp Duty (if applicable).
- Register the new ownership with HM Land Registry.
- Distribute final paperwork to all parties.
Reminder: Keep copies of all documents for future reference.
FAQs
Q: How long does the process take?
A: Typically 8–12 weeks, depending on complexity.
Q: What are disbursements?
A: These are third-party costs like search fees and Land Registry charges.
Q: Can I withdraw after exchanging contracts?
A: No, withdrawal incurs significant penalties.
Common Pitfalls and Solutions
- Delays in Mortgage Approvals: Begin applications early.
- Unresolved Enquiries: Address buyer queries promptly.
- Chain Breakdowns: Have contingency plans in place.
Our experienced team helps identify and resolve issues swiftly.
Contact Us
Need help with conveyancing? Reach out to our friendly team for a no-obligation consultation. We’re here to guide you through every step with confidence and ease.