Our Easy Guide To Conveyancing

When it comes to buying or selling a house, a key part of the process involves conveyancing. For most people they understand the basics of what is required to buy a house and how to market it, but the conveyancing process still remains somewhat of a mystery, after all, it isn’t a word that comes up too often in day to day conversation is it?

So to help we have created a quick guide to help you understand the conveyancing process, helping to clear exactly what it is, what stages are part of it, how long it takes and help answer some of the most commonly asked questions around it.

 

Conveyancing…What is it?

In a nutshell, conveyancing is the legal process which takes place after the main details of buying or selling your house has been agreed. This usually involves a contract being created which confirms ownership of the property being transferred from one person to another, done by way of missives (an exchange of letters between the buyer’s and seller’s solicitors).

The conveyancing process will also involve your solicitor carrying out additional searches on the property itself and the parties involved in the purchase. These searches are done to make sure the buyer gets and knows what they paid for and to make sure there will be no additional costs incurred after purchasing the home.

What are the stages?

Once an offer has been accepted, both parties solicitors will then work to negotiate the terms of the contract by completing what is known as “missives”. This entails a number of important tasks, including agreeing a date of entry as well as what (or any) additional items to be left in the property (this is commonly things such as blinds, kitchen equipment etc).

The next stage is to “conclude missives”, which simply means that the contract of sale and purchase of the property has been agreed between the buyer and seller. By this point you will have your entry date, funds secured and insurances arranged for the transfer.

Moving forward to the date of entry both the buyer and seller’s solicitors will arrange the successful transfer of the funds. Once complete and correct funds have been received, the new owner will be able to pick up their keys to their new home from either the seller themselves, the seller’s solicitor or the estate agent, leaving them free to begin moving in!

 

How long does this take?

There is no set timescale for the conveyancing stage, but on average it can take six to eight weeks. This can very easily be longer or shorter depending on the circumstances, everyone will be different. There are a number of factors to consider in a house purchase or sale that can vary the timescale, for example agreeing the initial terms of the sale or securing your mortgage from your chosen lender.

We have a vastly experienced conveyancing team here at Walker Laird who will help you every step of the way, regardless of your circumstances. If you have any questions about conveyancing or would like us to help you during this stage then please give us a call on 0141 887 5271.

If you have found our guide useful, share it with your community via the buttons below. For more news and updates from Walker Laird you can follow us on Facebook, Twitter and Linked In, as well as right here on our official blog.