Instructing a solicitor or conveyancer

Typically, the buyer and seller each instruct a solicitor or licensed conveyancer to act on their behalf. It may make sense to hire a solicitor who specialises in residential property transactions or a licensed conveyancer who only does this type of work. Make sure your chosen legal professional is a member of the Law Society of England and Wales or Law Society of Scotland and a member of the Law Society’s Conveyancing Quality Scheme. Conveyancers must be members of the Council for Licensed Conveyancers.

What exactly will a buyer’s solicitor/conveyancer do?

Every house purchase is different, and the work involved will vary accordingly. In general, before contracts are exchanged, your solicitor or conveyancer will carry out searches on the property. This is to identify any problems adversely affecting its value, structural stability and even if you should go ahead with the sale.

The searches are likely to include:

• Local authority search to gather information about plans in the pipeline such as a major new road or housing estate at the bottom of the garden or if it’s in a conservation area or listed.
• Drainage search to check the property is connected to mains fresh water supply and sewage system.
• HM Land Registry search to check the title register and current legal owner of the property, any rights of way or restrictions and if it’s at risk of flooding.
• Environmental search to find out about potential threats such as landfill sites, flood risk and ground stability.
• Additional searches depending on the location, for example tin mining in Cornwall and coal mining in Nottingham.

The buyer’s conveyancer or solicitor will check the draft contract (which includes key information, such as the agreed price and property boundary), supporting documentation and the list of fixtures and fittings included in the agreed sale price. If anything is unclear, they will contact the seller’s solicitor and, if required, negotiate on the buyer’s behalf. The conveyancer will also obtain a copy of the mortgage offer and transfer the funds to pay for the property on completion.

After contracts have been exchanged, the solicitor will ensure Stamp Duty owed to HMRC is paid and formally register the transfer of ownership of the property with the Land Registry.  

What will a seller’s solicitor/conveyancer do?

The conveyancer or solicitor hired by the seller will get official copies of the property deeds or Register Title from the Land Registry. This proves the seller is the legal owner of the property along with details of any outstanding mortgage or charges registered against the property. He or she prepares the draft contract and ensures the seller completes property information forms to send to the buyer to review and agree. These questionnaires include information on boundaries, disputes with neighbours, alterations, insurance, parking and connection to utilities. The seller’s conveyancer will obtain a settlement figure to repay the outstanding amount on any existing mortgage and check the transfer deed ready to send to the seller for signature in time for completion.

Key stages:

The conveyancing process can be broadly divided into these stages:

• Offer accepted - This is when the buyer makes an offer on a property and the seller accepts. Ideally, to reduce delay, it’s a good idea for both parties to have already compared conveyancing quotes and lined up a conveyancer or solicitor ready to act on their behalf.
• Before exchange of contracts - This stage can be lengthy as conveyancers and solicitors for both sides need to make vital searches and enquiries as well as draw up the draft contract and ensure other legal documents are completed.
• Exchange of contracts - If both sides approve, seller and buyer agree on a completion date and each sign the contracts which are formally exchanged. A deposit is also paid to the seller. At this point the sale is legally binding and you can breathe a sigh of relief.
• Completion –Then, on completion date, the negotiated purchase price is paid and the property transfers from the buyer to the seller who is handed the keys.  

Warranties, guarantees, planning permission and building control certificates.

It’s important the buyer gets copies of any warranties and building control certificates for home improvements, such as double glazing, new boiler or solar panels. If the property has been extended and building control sign off certificates aren’t included in the property information forms, ask your solicitor to chase up before contracts are exchanged.

How long does it all take?

It typically takes between 8 to 12 weeks from having an offer accepted to moving in to the new home. However, it can drag on a lot longer. Much depends on how quickly the buyer’s solicitor receives the contract pack. This is often related to the time it takes the seller to complete the property information forms and put together the supporting documents. Until the buyer’s conveyancer receives these documents, they can’t start the formal legal searches. How quickly a mortgage lender deals with a buyer’s application can also affect how long it all takes.

How much does it cost?

Strictly speaking, homeowners can legally do the conveyancing themselves, but it’s not advisable. Mortgage companies often insist on professional conveyancing services to protect their investment. You may make a mistake or miss something which could cause the deal to fall through or cause major problems further down the line. So, it’s sensible to get expert legal help and advice for what is probably the biggest financial investment of your life.

Legal fees vary but tend to be between £500 and £1,500, excluding disbursements. The bill can be divided into two parts: the basic fee to cover the cost of the solicitor or conveyancer and disbursements - charges paid to third parties on the client’s behalf, for example Stamp Duty and Local Authority Search. The final bill will depend on how much the property costs. See separate article on Conveyancing disbursements. Always ask for a detailed breakdown of costs when comparing quotes from conveyancers and solicitors. 

Conveyancing is a complex, time-consuming process. Being better informed about the legal work involved can help to reduce stress levels for home buyers and sellers.

If you have are thinking of buying or selling your home, you may find some of these services useful: