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Conveyancing costs for selling a house

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What is sale conveyancing?

Sale conveyancing is required when you are in the process of selling your property. From the time you instruct a conveyancer to the point where you hand over the keys of your home to the new owner, your conveyancer will carry out the legal work to transfer ownership of the property.

What is the conveyancing process for sellers?

The legal steps for selling a property can feel complicated. We take you through the key stages of the conveyancing process and advice on what to look out for along the way.

Milestone The key conveyancing steps for sellers
Conveyancing company and conveyancing fees research
  • Obtain conveyancing quotes by starting to do your research early on what you can expect to pay for your conveyancing costs
  • Online conveyancing quotes will give you a great starting point
  • Read and understand your conveyancing quote so you are clear what your quote covers and more importantly what it does not
Proceed with Instruction
  • When you have a buyer for your home and you accepted their offer price, your first step is to instruct a conveyancer to undertake the conveyancing work necessary for the sale of your property
Provide details for the Memorandum of Sale
  • The Memorandum of Sale is a formal document that confirms the sellers, the buyers, and the respective conveyancers’ details.
  • It is usual to provide this information to your estate agent so they can draw up this document.
  • This is an important document to get right, and for information to be submitted quickly as it must be received by both yours and your buyer’s conveyancing solicitor before any conveyancing work can start
Welcome communication and Welcome Pack
  • It is usual to receive a phone call or an email from your conveyancer to confirm your instruction. Your verbal instruction may be required for some conveyancing firms
  • You can then expect to receive your welcome pack which contains important information that you must complete and return to your conveyancer
Sign and return the Letter of Engagement (Including Terms and Conditions) to your Conveyancer
  • Within the welcome pack is the Letter of Engagement.
  • Your conveyancer will only be able to legally act on your transaction once this document is signed and returned to them so this needs to done quickly.
Complete and return the Property Information Form (PIF) and Fixtures and Fitting Form (FIF) and submit any supporting documentation
  • The PIF and FIF forms are legal documents designed to give key information about the property you are selling.
  • Once you have completed and returned the documentation in the welcome pack, it will be reviewed and sent to the buyer’s conveyancer to form the contract
  • The time you take to do this can greatly impact how quickly the conveyancing process moves forward
Submit documentation for Anti-Money Laundering (AML) and Identification (ID) checks
  • Check what information is required for your anti-money laundering (AML) and identity checks and submit this documentation to your conveyancer or, if you are using a conveyancing network, to their AML/Identity checking team
  • It is good advice to check how your personal information is being protected and stored
Contact your mortgage lender
  • You will need to inform your conveyancer of your mortgage lender and inform your current lender if you have any outstanding mortgage on your property and if you need to get a mortgage on a new property
Await potential mortgage valuation and surveys from the buyer
  • Your buyer will need to formalise their mortgage offer by arranging a valuation survey with their lender
  • This can be a waiting game as a survey by the lender may need to be booked to view your property which can take time
  • A building survey may also be arranged by your buyer. This survey will identify any issues that may be problematic to resolve or affect the value of the property for example damp or structural defects
A valuation survey is carried out by a Royal Institute of Chartered Surveyors (RICS) valuer instructed by the mortgage lender. The objective is for the bank to gain confirmation the mortgage amount is appropriate for the offer price. The valuation will look at any issues that could affect the value of the property.
Check progress of searches as ordered by the buyer
  • Searches will be ordered on behalf of the buyer by their conveyancer, or the conveyancing networks searches team
  • As a seller there is little you can do to speed up the process of these being done. You can however keep in touch with your estate agent and conveyancer to check the searches have been ordered and are in progress
Ongoing conveyancing legal process and negotiations
  • Getting to the point of exchange can be a time consuming and sometimes stressful experience
  • The length of time it can take will vary depending on the length and complexity of those within the chain and how quickly information reaches the relevant parties
  • Exchange relies on all factors coming together from everyone within the chain e.g. searches are back, enquiries are satisfactorily answered and buyer's funds are in place
Consider the arrangements for moving out of your home
  • Moving out of your home is likely to be a big process so don’t underestimate how long this will take
  • Get removal quotes and start to tidy out what you can
  • Most removal firms are happy to be flexible with firming up a moving day as they are used to dates changing
Agree on exchange and completion dates
  • Once all those in the chain are in a position to proceed, an exchange and completion date can be agreed with the other parties in the chain.
  • This will be co-ordinated between yourselves, your conveyancer and the other conveyancers in the chain
  • The deposit transfer will be made by your buyer to their conveyancer
Exchange of contracts and receipt of deposit from your buyer
  • Once the deposit funds are received, contracts are exchanged and the formal completion date is agreed by all parties in the chain.
  • The contract is now legally binding. If you pull out, the buyer may sue you for their legal costs
  • The Mortgage Advance is requested from the lender five working days prior to completion.
Get ready to move out of your home
  • You should now be in the last stages of getting ready to leave your home. You should be well prepared and ready to go.
Formal completion of the sale
  • The conveyancer will send you the Completion Statement and invoice
  • The keys of your home will be handed over to the new buyers.
Leave your property
  • And it's now time to go!
  • Your house is sold and your new home or adventure awaits

Are you a buyer?

It is very common to be selling and buying another property at the same time, so it is also important to understand what is involved in the conveyancing buying process. Find out more here on the conveyancing process for buying a house.

Contact us with your conveyancing questions

For more advice, contact a member of our team who will be happy to help. For a conveyancing quote click here.

Oliver Meddick By Oliver Meddick

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