Conveyancing is the legal process of transferring property ownership from one person to another.
It involves three main stages: Pre-contract, exchange of contract and post-completion. The process is usually handled by a conveyancing lawyer and the fees can vary depending on the complexity of the sale and whether you are the buyer, or the seller. Typically, you will pay more for buying a property, than selling one and the fees are split into two parts covering the legal and conveyancing costs and the disbursements, which are the charges associated with third party services such as searches.
The conveyancing process is essential when buying or selling a property in the UK, and it usually takes between 8 to 12 weeks, depending on various factors such as the complexity of the transaction and the number of properties involved within the chain. A simple chain, with just one property, can take less time to complete but 8 weeks from start to finish is the usual timeframe for completion. It’s crucial to have everything in order to speed up the process, so ensuring paperwork and forms are completed in advance and accurate to help your conveyancer will ensure the process is quick and efficient. It’s a good idea to instruct your conveyancer as soon as possible to avoid delays and always inform your conveyancer of any key dates at the start of the transaction.
Overall, conveyancing is a necessary and complex process that requires the help of a qualified professional to ensure a smooth and consistent transaction.