Sale conveyancing guide

Oliver Meddick By Oliver Meddick
Sale conveyancing guide

Contents

What is conveyancing?

Conveyancing is the name given to the legal process of transferring a property from one owner to another. It begins from when you first instruct a conveyancing solicitor and continues through to the completion of the property transaction.

Conveyancing is required when buying and/or selling a property as well as for transfer of equity, equity release and re-mortgage. The steps will vary depending on which transaction is being undertaken.

Below we have detailed the full conveyancing process step by step, For more information we have provided detailed explainer videos for each step. 

Conveyancing Process for Sellers Explainer Videos:

What is a conveyancer?

The role of a conveyancer is to carry out the necessary legal work required for the legitimate sale and purchase of a property. The work involves a fee which is for the conveyancer's legal expertise, time and administration in carrying out the property transaction.

Do I need a conveyancer when selling a property?

Selling a property is legally complex and therefore having a conveyancer to take care of the legal aspect of the sale is important. They will act as the go-between the seller's and the buyer's conveyancer to negotiate and compile the contracts. They will also need to deal with the seller's lender if there is a mortgage on the property being sold.

How long does conveyancing take?

How long the conveyancing process takes will vary depending on factors such as:

A smooth conveyancing process can take on average around ten to twelve weeks but it is often more realistically around 3 months.

How do I get started with conveyancing?

The best place to start is to do your research early to find the best conveyancer for you and what you can expect to pay for conveyancing services. Online conveyancing quotes will give you a great starting point. Once you receive your quote it's important to read and understand it so you are clear what your quote covers and importantly what it does not.

What information is provided in a conveyancing quote?

A conveyancing quote will detail the cost for the conveyancing legal fees, mandatory government costs and disbursements. When selling a property, the third-party costs are lower versus buying a property as for example stamp duty or searches are not payable.

How much does conveyancing cost?

The average cost for conveyancing is dependent on the price of the property and the legal work involved. You can expect to pay anywhere between £500 and £1500.

Below are the average conveyancing costs based on a 3-bed property:

FEEAMOUNTBUYINGSELLING
Legal Fees   
Conveyancing Fees£400 to £2000yesyes
Government and mandatory disbursements   
Stamp Duty Land Tax0 - 12% Dependent on the purchase price of the propertyyesno

Search Pack

  • Local Authority Searches
  • Water and Drainage Search
  • Environmental Search
£150 to £450yesno
HM Land Registry Search   
HM Land Registry Fee

£330*

* based on a £300,000 property
yesno
ID check£6 - £20yesyes
Bankruptcy Search£5 - £30yesno
Property Fraud£10yesno
Chancel Indemnity Insurance£20 - £40yesno
Office Copies£4 - £10yesyes
Bank Transfer Fee£20 - £30yesno
Transfer of Ownership£200 - £300noyes
Additional Items   
Gifted Deposit£100yesno
Lifetime / Help to Buy ISA£60yesno
Unregistered Property Supplement£120 - £250yesno
Leasehold Property Supplement£200 - £300yesno

What is fixed fee conveyancing?

Fixed fee conveyancing is where a price is given for the necessary legal work required. With a fixed fee conveyancing quote, the price quoted is the price you pay. Fixed fee conveyancing costs are the costs associated for the legal work undertaken and do not include the disbursements such as property searches and stamp duty.

What is no sale no legal conveyancing?

No sale no legal fee conveyancing means if a property sale falls through, the cost of the legal fees are not payable. This can also be known as no move no fee or no completion no fee. It applies to the legal fees only. Disbursements and third-party costs such as local searches are not counted as legal fees.

What does conveyancing involve when selling a property?

There a number of key steps in the conveyancing process as follows:

Step 1: Choose and instruct a conveyancer


Step 2: Await Welcome Pack from conveyancer

Step 3: Provide details to your estate agent for the Memorandum of Sale

Step 4. Sign and return documentation and Letter of Engagement (Terms and Conditions) to your conveyancer

Step 5: Submit documentation for anti-money laundering and identification checks

Step 6: Contact your mortgage lender

Step 7: Pre contract pack drawn up following the collation of the buyer and seller information

Step 8: Searches ordered by the conveyancer on behalf of the buyer

Step 9: Mortgage valuation and home buyers survey undertaken on behalf of the buyer

Step 10: Buyer's conveyancer obtains the approved mortgage offer

Step 11: Ongoing conveyancing legal process and resolution of enquiries raised

Step 12: Consider the arrangements for moving out of your home

Step 13: Exchange of contracts and receipt of deposit from the buyer

Step 14: Get ready to move out of your home

Step 15: Completion of the sale

Step 16: Leave your property

Step 17: Post completion

How can I speed up the conveyancing process when selling a property?

As a seller, the best way to speed up the conveyancing process is to complete and return all information quickly and accurately. Missing documentation, documents not signed correctly, taking a long time to answer enquiries and return information will all impact how long the conveyancing process takes.

What information is it important to know when selling a house?

Selling a property is complex and there is a lot of information that needs to come together to reach exchange and complete the sale of your property. Understanding the key steps and having answers to questions such as What are searches? or What is a Property Information Form? can only be of benefit to you when speaking to your conveyancer, estate agent or mortgage lender.

Click here to find out the answers to everything you need to know to help the sale of your property go as smoothly and as stress free as possible.

Oliver Meddick

Oliver Meddick

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