We know how difficult it can be when you are buying or selling a house and we are here to help. The conveyancing process can be full of stresses and perhaps questions that you aren’t sure how to ask, so here are some of the common queries and answers.
How does the conveyancing process work?
Usually you would instruct an Estate Agent to put the property on the market on your behalf. Once a sale has been negotiated and agreed, it is at this point you can instruct your Solicitor. If you chose to proceed with Ellisons, we would obtain the title documentation and prepare the Contract Pack on your behalf. We would also send you some forms to fill in, which outline in depth information in relation to the property which is then passed to the Buyer. If the Buyer’s Solicitor raise any enquiries on the papers provided, we will reply on your behalf so far as we are able, and forward to you any which are specific to you. Once all enquiries have been dealt with, we will be able to proceed to exchange and completion.
Once you have found a property to purchase, and had an offer accepted, you can instruct your Solicitor. Once we have received the Contract Pack from the Seller’s Solicitor, we will carry out an investigation of the title. This is the most important part of the process as we need to make sure the Seller has the right to sell the land or property to you and that the property comes with all the required rights for you to fully buy the property. We will do this by examining the title documentation, carrying out searches and raising enquiries with the Seller’s Solicitor.
Once we have investigated the title and revealed any potential problems or pitfalls, we will prepare a Report on Title explaining all the relevant information to determine whether you wish to proceed with your purchase. If any interests affecting the property arise during our investigation process, we will draw these to your attention and advise you of the detrimental effects and whether to proceed with your purchase. At this stage, you will sign the necessary documents and we would begin to discuss exchange with completion shortly thereafter.
How long does the process take?
It is usual for the Conveyancing process to take between 8-12 weeks. However, it may be easier to ask the question – how long is a piece of string? Unfortunately, many of the factors that delay a purchase are outside of our control. For example, we may be awaiting the results of your searches, a response from your lender (if you are obtaining a mortgage) or replies to enquiries from your Seller’s Solicitor.
Do I have to instruct the Solicitors or Conveyancing firm that my Estate Agent recommend?
Absolutely not! We often hear clients saying, “We would like to instruct you, but our Estate Agents have advised us that we must use their preferred firm of conveyancers, is this true?” No, this is actually a myth widely believed. Some Estate Agents receive a referral fee when you instruct their preferred conveyancers, therefore, can try to be persuasive.
At Ellisons, we do not agree any referral arrangements with Estate Agents – we only receive genuine recommendations for our services. You can instruct which ever Solicitor you prefer.
Can I withdraw from my purchase at any time?
Yes, again this is sometimes misunderstood. In England and Wales you can withdraw from a purchase without penalty at any time before exchange of contracts. Once contracts have been exchanged, if you withdraw or cannot proceed for any reason outside of your control you would be penalised as per the terms of the contract and forfeit your deposit.