We’ve answered here most of the frequently asked questions about our service. If you can’t find the answer to any question you have, please don’t hesitate to contact us. We have a dedicated team ready to answer any questions you may have.
Conveyancing is the legal process of transfer of legal title of real property from one person to another. A typical conveyancing transaction has two major phases: the exchange of contracts and completion.
If a property is empty and a buyer does not require a mortgage, a sale or purchase Conveyancing can be completed in a few days. In the cases where a buyer needs a mortgage or a chain of properties involved, it will usually take between 8-12 weeks to exchange the contracts and then further 2-4 weeks for completion. However, sometimes this can be longer, for example, depending on the length of chain you’re in, or if something unexpected comes up in the searches or enquiries.
If you need an urgent exchange of contract and completion, please contact us and we’ll always do our best to help you.
Our conveyancing quotes are fixed, calculated based on the information supplied by you. So there are no surprises and if for whatever reason, your move does not go ahead, there is no fee.
For a normal conveyancing transaction, our quote consists of:
We will only ever increase the fee, if, during the transaction, something comes to light which was unforeseen. If this did happen, we would discuss this with you before incurring extra charges.
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If you buy a freehold property you own the property and the land it stands on outright until you choose to sell or otherwise dispose of the property. However, if you buy a leasehold property you own the right to occupy the property for a fixed period by a legal document called a Lease.
Although Conveyancing of commercial properties is much like that of residential properties there are also some important differences in the processes and complexities involved that you should be aware of.
Commercial conveyancing is generally a more time-consuming process than that of residential. There needs to be an investigation of the permitted uses of the land, zoning, and the details of any leases in place. Most of the commercial properties already have tenants in place, and these agreements are usually negotiated between the tenant and the landlord. Therefore it is imperative to have a commercial property expert solicitor to review any lease agreements before you sign the contract to ensure you are aware of the terms and any rights the tenant may have. There should also be research conducted on the financial situation of the tenants. Due to the required extra work, legal fees for commercial Conveyancing are higher than a residential one.
Exchange of contracts is a crucial part of any conveyancing process. It is the moment when the two parties become legally bound to complete the deal. At this point, the buyer’s lawyer will confirm the amount of the deposit being handed over on the exchange. This is usually 10% of the purchase price.
When exchanging contracts, the “completion” date is also confirmed. The completion date, put simply, is moving day. It’s the date on which the seller must vacate the property and the buyer will get the keys and can move in. Fundamentally, on completion, the buyer must, through their lawyer, hand over all the remaining money required to purchase the property.
If you are obtaining a mortgage, the lender will require a valuation survey to be carried out. We would recommend that you have a survey; even if you are not obtaining a mortgage. A survey report can reveal any structural issues that the property might have, letting you know if it’s worth the asking price. The ideal time for a building survey is before you finalise the deal.
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We know sometimes buying and selling transactions do not complete as per plan. Our sale and purchase conveyancing services are covered with a No Completion No Fee Promise. All solicitors and conveyancers at our panel also offer that if your First Transaction falls through, the solicitor will carry over your Initial Deposit to the next property or buyer you find. This means you get your First Transaction for free if the worst should happen. Buying or selling (except auction buying and selling) Conveyancing services are ONLY included in No Completion No Fees promise.
For more details, please read “Conveyancing quotes terms and conditions” section of “terms and conditions”.
Yes, you have the right to cancel the instruction with your solicitor up to 14 days after instruction as long as you have not received any service being provided by the solicitor which you initially instructed the solicitor to complete. If you haven’t received a service from your solicitor your deposit will be refunded.
Unless your lender is arranging the building insurance or the property is leasehold and the insurance is dealt with by the freeholder, you must arrange the building insurance from the day you exchange the contracts.
Keys are usually left with the estate agents, and the buyer collects them after completion confirmed by their solicitors.
If you still did not get the answer to your question, please feel free to email us at info@conveyancinghouse.co.uk or call +44 1923 518 646 (Mob: 07368 534 666) and our specialist team will be happy to answer your any questions.