WHAT DOES A PROPERTY TRANSACTION LOOK LIKE WITH EXPRESS CONVEYANCING?

We work in partnership with a number of specially selected law firms around the country, all accredited by either the SRA or CLC, so you have the peace of mind that your transaction is being handled by an appropriately qualified professional.

What happens in a sale?

A large number of clients approaching us ask what the conveyancing process looks like? Well, just as each property and individual’s circumstances differ, so does the exact conveyancing technicalities of each property transaction. Having said that, all transactions follow similar steps.

Quoting and Instruction – your personalised quote is agreed with the team at Express Conveyancing working with our conveyancing solicitors North London. We work based on fixed and transparent fees, with any transactional variations being discussed and agreed with you first.

Client care paperwork – You will be sent your initial paperwork by your appointed conveyancing solicitor. You will need to complete and return these along with ID and source of funds documentation. There are also property specific documents to complete, like fixtures and fittings forms.

Draft contracts – Your conveyancer will put together draft contracts and send them across to your buyers solicitor for them to review.

Enquiries – Your buyer’s solicitor will raise legal questions known as enquiries on the property, which will be responded to you by your solicitor in turn. Some will be technical questions and so the solicitor will provide the response, some may be of a more practical nature and will require input from you.

Redemption of any financial charges – If you have a mortgage or other financial charge secured against the property, your conveyancer will have the responsibility of redeeming any outstanding finance on completion and ensuring formalities are carried out to release the charge is released on completion.

Exchange and completion – Once the buyer’s solicitor confirms they are satisfied with the enquiries and financial matters have been dealt with, dates for exchange and completion will be decided upon. Both solicitors will then exchange signed contracts and eventually complete the transaction.

What happens in a purchase?

Like with a sale, a purchase follows a very similar process with differences to suit each property and individual circumstances.

Quoting and Instruction – As with a sale, your quote is decided with the team here taking into account any specifics of your transaction, such as mortgages, gifted deposits or whether the property is a freehold, leasehold, new build etc.

Client care paperwork – You will be sent initial paperwork to complete including details about your SDLT liability and financial arrangements along with a list of supporting documentation you will need to supply.

Draft contracts – Your conveyancer will be sent draft contracts by the solicitors acting for your seller and they will then review all information about the property and contracts.

Searches and Enquiries – Your solicitor will order property searches, with the Local Authority, water and environmental agencies via a specialist search agent. They will also raise enquiries about the property. You will also have the opportunity to raise any questions you have. The seller’s solicitor will respond with any information directly from the seller that is needed. Your solicitor will then judge if the response is acceptable. Your solicitors will then be explained to you in the solicitors report on title.

Financial arrangements – Your solicitor will carry out checks and processes needed for any finances you require for the purchase. There may be discussions with mortgage lenders if there are specific requirements for the property, gifted deposit checks and any formalities in relation to ISAs or LISAs.

Exchange and completion – Once both sides are happy to proceed, dates for exchange and completion are established. After exchange of contracts, your solicitor will carry out the final formalities to ensure fund are released to them and then transferred across to the seller’s solicitor. Keys will be released and you can move into your new property.