Top Tips for Conveyancing

02/08/2023

Buying or selling a property can be a big undertaking, and people can find the conveyancing process overwhelming. 

Conveyancing is the legal transfer of a property from one person to another and involves a lot of different elements that can be hard to juggle if you are not prepared. 

In addition to the financial arrangements that need to be put in place, there is a set legal process to follow and many administrative tasks to undertake. Throw in the various emotions you experience when buying or selling a home, and it is a potent mix that can quickly become a logistical nightmare.

However, forearmed is forewarned, and it can greatly assist a house sale or purchase to run without any hiccups if everyone involved understands what is going on and knows what needs to happen when.

Here, our experienced Residential Conveyancing Solicitors give their top tips for five crucial stages of the conveyancing process to ensure your transaction runs smoothly.

1. Instruct a conveyancing solicitor.

A solicitor plays a pivotal role in a property sale or purchase. Instructing an experienced conveyancer at the outset can save you time, money, and stress as the transaction unfolds.

Your solicitor will handle the legal side of the property sale or purchase and will also serve as a key point of contact throughout the transaction. 

Working with someone you trust and can communicate with is a huge benefit and will ensure the process runs smoothly.

Top tip: Ask a friend or relative for any recommendations when you are looking to instruct a solicitor; don’t just rely on an online search. A personal endorsement from someone you trust will yield a better result than Google.

2. Get a survey.

A property survey is an expert inspection of a property’s condition undertaken by a chartered professional. A survey will alert you to any potential defects or possible risks to the structural integrity of a building. 

There are three main types of survey, and which one you need depends on the age and condition of the property you’re buying. The three main levels of property survey are:

1. A Full Building Survey. Also known as a ‘Level 3’ or ‘Full Structural Survey’, a full building survey provides a detailed assessment of the property’s condition and advice on defects, repairs, and maintenance.
2. A HomeBuyer Survey (Level 2) highlights any problems or defects with a property that are considered “urgent or significant”.
3. Condition Survey (Level 1) is a surface-level survey that considers the physical condition of a building.

Top tip: Buying a house is an expensive business, and it can be tempting to look for ways to save money in the short-term. Scrimping on a survey is not one of them. When you are committing to buying a property, you need to know precisely what you are paying for. A property survey should be a vital step in any house purchase. 

3. Be thorough with searches.

Your conveyancing solicitor will undertake a series of enquiries about the property you are looking to buy by conducting several “searches”.

There are three main searches that a solicitor undertakes:

1. 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. These include, for example, if the property has listed building status or is in a tree preservation zone, and whether there are any proposals for new roads, traffic, and rail schemes within the vicinity of the property.
2. Environmental Search. An environmental search gives information about the risk of flooding, subsidence, landslips, and other information about potential land contamination related to past use.
3. Water and Drainage Search. 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.

Top tip: Searches are a crucial part of the conveyancing process and ultimately determine whether a sale goes through. Read the information very carefully, and make sure you raise any issues with your solicitor so they can request further information if necessary.

4. Consider indemnity insurance ahead of the exchange of contracts.

Exchange of contracts is when the buyer and the seller swap and sign contracts, and the buyer must put down their deposit.

This is a critical stage in a transaction, as exchanging contracts means your house purchase is legally binding. Until this point, either the buyer or seller could pull out of the deal without incurring any significant financial costs or penalties.

Top tip: If the seller pulls out before you exchange contracts, you have no legal right to recover any costs. An indemnity insurance policy can protect you against some of the key risks involved in a property purchase. Ask your solicitor for more information. 

5. Plan carefully for completion.

Completion day is when money is transferred, your solicitor confirms the transaction, and the buyer gets the keys and can move into their new home.

At this point, your solicitor will have checked that several conditions are in place and various requirements have been met to ensure your transaction completes smoothly. It helps to plan ahead and to check (and double-check…) that your funds and paperwork are in order to avoid any last-minute problems or panic. 

Top tip: Let your solicitor know as early as possible if there is a particular day you want for completion or if there is a date you need to avoid. Your solicitor can then communicate this to the other parties to ensure everyone has the same endpoint in mind.  

Click here for more tips on how to speed up the conveyancing process.

If you are buying a new-build property, the process is slightly different and there could be added complications involved. To read more about the unique challenges in new build conveyancing transactions, read our previous blog by clicking here.

Conveyancing Solicitors Bolton and Chester

At Russell & Russell, our team of residential conveyancing solicitors have extensive experience in helping clients buy a new home and can help you navigate the process to ensure a successful completion. 

Our experienced team of solicitors offers efficient, convenient and cost-effective conveyancing services from our offices in the North West, undertaking work for clients in the local area and across England and Wales. 

The firm is accredited under the Law Society Conveyancing Quality Scheme, which is the recognised quality standard for residential conveyancing practices. 

For more information, or to speak to one of our residential property specialists, please get in touch with Russell & Russell Solicitors. You can 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.