Boultons - Magazine - Page 30
Your step-by-step guide to
the conveyancing process
O
nce a sale has been agreed
and is in the hands of your
solicitor, it will go through
the following stages. Sometimes
additional work will be needed – for
example, if the property is leasehold
or is yet to be registered with the
Land Registry. It is also important
for buyers to discuss the availability
of their deposit with their solicitor
early in the transaction, and we
strongly recommend that you
contact your solicitor regularly so
that they can keep you fully upto-date with the progress and the
latest timescales.
Seller’s solicitor’s steps
• Obtain a copy of the Title Deeds (or
of昀椀ce copies if the title is registered)
• Obtain a copy of the Energy
Performance Certi昀椀cate (EPC) (if
applicable)
• The seller(s) will return a completed
Property Information Form and a
Fixtures, Fittings and Contents Form to
the solicitors
• Copies of the above documents, plus
a draft contract – this is known as an
‘Information Pack’ – will be sent to the
buyer’s solicitor
• Answer the buyer’s solicitor’s
additional enquiries (for example,
speci昀椀c questions about 昀椀xtures and
昀椀ttings) and obtain copies of any
planning consent documents
• Agree the contract and arrange for
the sellers to sign it in readiness of the
exchange (below)
• All parties agree completion dates and
the contracts are exchanged
Between exchange and
completion
• Obtain redemption 昀椀gures from
the mortgage lender and reply to
requisitions on title
• Approve the transfer and arrange for
the seller(s) and buyer(s) to sign
• Receive the agent’s fee account and
seek the seller’s consent to settle this
out of completion funds
Completion date
This is the date the ownership of the
property passes from the seller to the
buyer, and it follows the successful
transfer of funds. It’s the date that the
whole process works towards.
Upon completion
• Receive completion funds and (only
when this has been completed)
instruct Boultons to release the keys
to buyers. Redeem mortgage and
forward the 昀椀nancial statement.
Forward any surplus funds (unless
these are being used to fund
an onward purchase). Ensure all
outstanding bills are paid
• Forward transfer documents and
deeds to the buyer’s solicitors
• Forward evidence of ‘discharge of
mortgage’ to the buyer’s solicitors
