A Typical Transaction

In normal circumstances the conveyancing transaction follows the following activity plan and time scale. However, this plan does not take into account the time necessary to obtain the agreement of your lender to provide you with a mortgage.

Seller's Solicitor

• Stage 1. Before the exchange of contracts
  • Deal with/obtain Home Information Pack
  • Take instructions
  • Obtain Deeds
  • Prepare draft contract
  • Deduce title & send to buyer's solicitor
  • Prepare property information forms
  • Reply to any preliminary enquires & requisitions
  • Agree contract
  • Seller signs contract
• Stage 2. After exchange of contracts
  • Exchange contracts
  • Take deposit
  • Seller signs transfer
• Stage 3. on 'Moving Day' (completion)
  • Complete
  • Account to seller for sale money

Buyer's Solicitor

• Take instructions/consider seller's Home Information Pack
• Local searches
• Mining Report and chancel checks
• Other relevant reports
• Investigate Deeds & send any enquiries to seller's solicitors
• Check replies
• Receive Mortgage offer and check
• Agree contract
• Buyer signs contract
• Exchange contract and pay deposit
• Draft transfer & send to seller's solicitor
• Make final (pre-completion) searches
• Complete
• Stamp & register the transfer, pay stamp  duty where it applies

Advice

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