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When you’re in the process of buying a house, a solicitor plays a crucial role in ensuring everything goes smoothly. In this article we will run through the key stages of a solicitor’s role in buying a house and how long each part of the conveyancing process takes. Initial Work and Property Searches Once you […]
Lisa Best
17 October 2023
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When you’re in the process of buying a house, a solicitor plays a crucial role in ensuring everything goes smoothly. In this article we will run through the key stages of a solicitor’s role in buying a house and how long each part of the conveyancing process takes.
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Once you have had an offer accepted on a property, your solicitor will kick off the purchase process by opening you a file and conducting essential work, such as verifying your identity and finances. This typically takes around 1 week.
During the first part of the conveyancing process, your solicitor will undertake a series of property searches, including local authority, environmental, and drainage searches, to uncover any legal or environmental concerns. If there are outstanding searches, they’ll follow up with the relevant organisation to ensure all information is obtained. If there are any queries with the searches, they will raise them on your behalf. This typically takes around 2 weeks.
During the home buying process, your solicitor will link in with your mortgage lender to arrange your mortgage and make sure finances are secured for the purchase. This typically takes around 4 weeks.
The conveyancer or solicitor will review searches and the survey and will raise any queries with the seller’s solicitor to ensure the property meets your expectations and all issues are addressed ahead of completion. This typically takes around 8 weeks but can take less, but can also take longer, depending on the volume and complexity of issues, as well as how quickly the seller’s solicitor responds to queries.
During this part of the conveyancing process, your solicitor will also draft the legal contract that outlines the terms of the purchase. This includes the agreed-upon price, conditions, and timelines, making the agreement legally binding.
Once both parties are satisfied, the solicitors arrange the exchange of contracts, which makes the transaction legally binding for both you, as the buyer, and the seller. This typically takes around 1-2 weeks.
Once contracts are exchanged, your solicitor will agree on a formal completion date with the seller’s solicitor. This should be a date that suits both parties. This will be the day that funds are transferred and you get the keys to your new home.
You’ll be required to pay a deposit to secure the property. Ahead of completion, you will transfer your deposit and any stamp duty to your solicitor, which will be placed in a client account until completion. This will ensure the transaction is completed correctly.
On completion day, your solicitor will oversee the transfer of any funds, and once the seller receives payment, the property will be officially yours, and you will get the keys to your new home.
Finally, your solicitor will register the property’s change of ownership with the Land Registry within 30 days, officially confirming your legal ownership of the property.
Throughout the process of buying a house, your solicitor plays an important role, guiding you through the journey communicating key information and overseeing legal processes and safeguarding your interests. For this reason, choosing a good solicitor is key to making sure the process runs smoothly and efficiently. Obviously, the timeline provided within this article is based on the assumption the solicitor does uncover any irregularities which will need further enquiries.
From mortgages and insurance to viewings, offers, exchange and completion, our Buyers’ Guide will take you through everything, step by step, from start to finish.
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