What is conveyancing?
Conveyancing is the process of transferring property from one person to another. Paperwork is prepared and completed to ensure that the sale or purchase is legal, and several steps are taken to ensure that the ‘title’ (the property being transferred) is good.
What does the process actually involve?
Your solicitor will be in regular contact with the other parties’ lawyers, helping to share information between the parties, and if difficulties are encountered, can advise you as to what steps should be taken. The buyer is given all the information they need to understand the property, and what comes with the purchase.
What is the average conveyancing time?
The conveyancing process takes around 12 weeks, but this can increase or decrease, depending on various factors.
What can speed up conveyancing?
- Avoid busy times of year. People like to move during the summer holidays or “be in their new house for Christmas”. Try to avoid these busy times if you can.
- Get all your documents in order ready for the process:
- If you are the buyer, these might include:
- Proof of identity
- A mortgage offer
- Evidence of the source of your purchase funds (such as payslips, bank statements).
- If you are a seller, these might include:
- Proof of identity
- Proof of ownership
- An Energy Performance Certificate
- Any certification, guarantees or checks that you’ve had on boilers, central heating systems, etc.
- Any planning permission or building regulation documentation.
- Answer questions from your solicitor as soon as possible to ensure speedy turnarounds and keep the process running smoothly.
- Shorter property chains progress much faster. If at all possible, find a buyer that isn’t in a chain, or at least a small chain. Multiple transactions have a higher likelihood of something going wrong, putting the whole chain of house sales and purchases in jeopardy.
- Conveyancers can act for both you and the lender, on a dual representation basis, which can speed up the process.
- If you are the buyer, these might include:
And what can slow down the process?
- Issues with the mortgage offer may cause delays. The bank may disagree with the value of the property. Ensure your mortgage offer is a solid one, and keep in touch with your advisor throughout the process.
- Missing documentation, e.g. electrical certification or the EPC.
- If a survey reveals major issues with the property, the potential buyer may want to insist on additional checks or surveys and may want to renegotiate the selling price. Examples of issues that buyers may want to negotiate on include:
- Expensive repairs, e.g. re-roofing
- Mould or damp
- Lack of planning permission
- Subsidence or structural defects
- Neighbour disputes.
Further reading
Conveyancing at AWB Charlesworth
How much is stamp duty? The answer isn’t straightforward
28 November 2024
For more information, call into our Keighley or Skipton office or contact Declan Hayes on 01756 692888 or declan.hayes@awbclaw.co.uk
