National Conveyancing Week 2024: Timeline to Buying a Home
11/03/2024
Following on from the success of the inaugural National Conveyancing Week (NCW) in 2023, this year’s event is held from Monday 11 to Friday 15 March.
In 2023, the focus was on raising the profile of conveyancers and property lawyers in the home-moving process.
NCW 2024 builds on this theme, aiming to “inform, educate, assist, motivate and reassure” people about conveyancing and help recruit new entrants to the industry.
Conveyancers act as a vital conduit between the home mover, lender, mortgage broker and estate agent. However, it is a role that is largely undervalued, underappreciated, and misunderstood.
By shining a light on the vital role conveyancers play in property sales and purchases, organisers of NCW 2024 hope that the perception of the industry and those that work in it will change.
To find out more about National Conveyancing Week 2024, click here.
Russell & Russell is delighted to support the campaign. To mark NCW 2024, in this blog our experienced Residential Conveyancing solicitors consider the main stages involved in buying a home.
- Property search. The first step towards buying a property is finding it! You might fall in love with the first property you see or view numerous different places before deciding on the right one for you.
- Instruct a solicitor. Once you have found your ideal home and had an offer accepted, you should instruct a solicitor. An experienced conveyancer will take care of all the legal aspects of the transfer of title relating to your property purchase.
If you are thinking of buying or selling a property and need advice, get in touch with Russell & Russell today. Our friendly conveyancing solicitors are based in the North West of England and help clients nationwide.
Call 0800 103 2600 to speak to one of our team, or click here to request a call back. Initial advice is free.
3. Survey. Although it is not a legal requirement, it is a good idea to organise a survey of the property you are looking to buy. This will alert you to any potential defects or possible risks to the structural integrity of a building.
4. Pre-contract. The seller’s solicitor will prepare a contract of sale outlining the terms and conditions relating to the property transfer, which will then be reviewed by your conveyance.
5. Searches and enquiries. Your conveyancing solicitor will undertake a series of searches and enquiries about the property you are looking to buy to ensure there are no issues affecting the property. These include:
- Local authority search. A local authority search alerts buyers to any issues affecting the property directly and forewarns of any legal restrictions a property may face in the future, such as if the property has listed building status or whether there are any proposals for new roads within the vicinity of the property.
- An environmental search gives information about the risk of flooding, subsidence, landslips, and other information about potential land contamination related to past use.
- A water and drainage search establishes whether there is a public sewer within the property’s boundaries and reveals the location of the water mains.
6. Exchange of contracts. Once the seller has addressed any additional queries a buyer may have, your solicitor will conduct a final check with the Land Register to confirm no changes have been made to the property since the initial searches. When both parties are happy with the terms, the buyer and seller exchange signed copies of the contract. At this stage the buyer pays a deposit, and the sale becomes legally binding.
7. Completion. This is the point at which the property officially changes ownership. On the agreed completion date, the buyer pays the remaining purchase price, and the seller transfers ownership of the property.
8. Post-completion. After completion, your conveyancer registers the change of ownership with HM Land Registry and takes care of other matters, such as paying any stamp duty land tax and providing you with the title deeds.
For our top tips about how to ensure the conveyancing process goes smoothly, click here.
Visit the National Conveyancing Week website for loads more useful information and resources, including a How to Buy a Property Guide, Home Selling Guide, and a Quick Guide for Sellers and Landlords.
Conveyancing Solicitor Near Me
Buying or selling a home requires the assistance of a specialist conveyancing solicitor.
At Russell & Russell, our experienced team of solicitors have been helping clients with property sales and purchases in Bolton, Atherton, Bury, Chester, Farnworth, Horwich and Middleton for many years.
From our offices in the North West, we offer efficient, convenient and cost-effective property services for clients in the local area and across England and Wales.
We are transparent about the costs involved and always provide a written estimate at the outset of a transaction.
The firm is accredited under the Law Society Conveyancing Quality Scheme, which is the recognised quality standard for residential conveyancing practices.
If you are looking for a conveyancing solicitor to help you with a residential property transaction, our experienced conveyancing solicitors can help.
For more information, or to speak to one of our residential property specialists, please get in touch with Russell & Russell Solicitors. Call us on 0800 103 2600 or make an online enquiry.
Please note that this article is meant as general guidance and not intended as legal or professional advice. Updates to the law may have changed since this article was published.