What do conveyancers do when you're buying a property?

Everyone needs a conveyancing solicitor to help them buy a property. But what do they do for their money? It’s a question many buyers and sellers ask as they wait for week after week for a sale to go through.

It's a legal process that is often referred to as a ‘black hole’ because no one knows what goes on during the six to eight weeks it takes on average to complete on a sale.

Here are the answers, in approximate time order.

1. Preparing the contract

After the sale price has been agreed, the sellers’ solicitor asks the vendor to fill in a questionnaire about the property which includes its address, property boundaries, the agreed selling price, their contact information and details of the property’s fixtures and fitting included in the sale. All this eventually becomes part of the sales contracts both sides sign and exchange.

The seller’s solicitor then checks the seller’s identity (to prevent fraud) and digs out a copy of the Land Registry ownership details, known as the Title deeds and Title plan.

Other information included in the contract pack include any leasehold terms and conditions if it’s a leasehold property plus any certificates or guarantees. This can include for example the property’s NHBC Home Warranty, if it’s a recently-built home.

2. Liaising with the lender

If the buyer is purchasing the property with a mortgage then both solicitors will work with the lender to help them approve the loan.

Most commonly this includes a mortgage valuation visit, an appointment for which will have to be arranged with the vendor, and sorting out any queries raised during the valuation.

For example, the surveyor may report back to the lender that the property is worth less than the agreed sales price, after which the loan may have to be renegotiated.

3. Local searches

Lenders want to know about any risks that could affect the value of the property they are lending against. So, conveyancing solicitors carry out what’s called ‘local searches’.

This means they contact the relevant local authorities and bodies to enquire about any planned works – such as a motorway about to be built behind the property – plus any other major gas, electricity, water or drainage issues or works planned. They also contact the Environment Agency to find about any issues such as flooding, radon gas or land contamination and get a local Coal Mining Report, if it’s that sort of area.

Other issues a local search will examine include any Tree Preservation orders active within the property.

The conveyancer will also check that the local authority maintains the road that the house is on, because private roads can cost home owners a lot to maintain. And conveyancers will also check that any building work on the property has the correct building control or planning permission, and that any rights of way/easements are not problematical – one example access to a shared driveway.

4. Draft contracts

Once all these issues have been sorted out to the lender’s satisfaction, draft contracts are then drawn up.

5. Exchange of contracts

Once these contracts have been signed and exchanged between the solicitors, the funds are then transferred to the solicitor’s bank account prior to being transferred to the seller. Once this has taken place, the buyer is then given the keys and they can move in.

6. Transfer of ownership

The final act of the conveyancing process is to transfer ownership. Once the sale has been completed, the buyer’s solicitor then hands the Land Registry document over to the buyer’s solicitor, who uses them to tell the Land Registry who the new owner is and how much the agreed selling price was.

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Remember the information provided in this article is for information purposes only and should not be considered as advice.

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