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Conveyancing Solicitors Bedford

Conveyancing solicitors in Bedford are an important part of selling or buying property. With our straightforward approach, selling or buying a house is made easy. To help you understand the process better, familiarise yourself with the steps involved in our convenyancy Bedford process.

Conveyancing process for buying a house

Step 1 – Initiate

For the process to begin, you will need to get in touch with us. We will ask you to complete the initial paperwork and also provide us with your form of identity. If you would like us to conduct any searches, we will also ask that you deposit the funds for the searches with us.

Step 2 – Receive draft contract

The seller’s conveyancing solicitors in Bedford will put together the draft contract and send it to us. With it will be other documents like the protocol forms, the official copies and other duplicates of documents that are pertinent to the property.

Step 3 – Searches and investigation of title

We will need to review the draft contract and verify the title and other documents. At this point, we will also conduct the searches if you had requested any. If there are any questions, we will take them up with the seller’s solicitors for answers. Ideally, the length of time taken in this process is dependent on the number of enquiries that we have to make.

Step 4 – Report

After verifying the title and reviewing the draft contract, we will put together a report on the property after we have received all the necessary responses from the seller’s solicitors. The report will include your mortgage offer, and since we handle the financial aspect of the transaction, we will also include a completion statement which will indicate you much you will be expected to pay.

Step 5 – Signing

If you’re happy with the contract and the responses that have been offered, the next step is to arrange for a signing. During the signing, the parties will also agree on a completion date after which we will ask that you send the agreed deposit of the purchase price to us to arrange for the next step in the buying process.

Step 6 – Exchange of contracts

Exchanging contracts is a critical step because it makes the completion date and the terms of the transaction legally binding. After the contracts are exchanged, we will forward the deposit to the seller’s solicitors and request for a mortgage advance from your lender. If there is any money owed to us, we request that it is paid at least one working day before the completion date.

Step 7 – Completion of Conveyancing process

On the completion date (moving day) we will send the full purchase price of the house to the seller’s solicitors. The keys will be left with the estate agent. Once they confirm receiving the money, the keys will be released to you.

Conveyancing process for selling a house

Step 1 – Initial instructions

When selling a house, it is important that we first take note of the details of the transactions. For this, we will sit down and discuss the sale. If necessary we will take down some notes and use this information, we can get the process started. We will ask you to complete the initial paperwork which will also include the protocol forms and also provide us with your form of identity. We also request for funds to help obtain office copies in case these are needed.

Step 2 – Contact with your mortgage lender

We will need to obtain a statement that shows the current status of your mortgage from your mortgage lender. We will also apply for your most current title deeds also from your mortgage lender.

Step 3 – Obtain documents from the Land Registry

At the cost of £12.00 (payable by you), we will obtain the most recent electronic copies which are also known as the official copies.

Step 4 – Preparation of draft contract

With the information that you have provided us with and the documents that we have obtained, we will prepare the draft contract. We will send this to the buyer’s solicitor along with some of the documents that we have obtained so far like the official copies and the protocol forms among others.

Step 5 – Enquiries raised by buyer’s solicitor

Once the buyer’s conveyance solicitor in Bedford has received the draft contract and the attached documents, he will review the contract and the documents. If there are any questions, they will direct them to us, and we will refer them to you for answers. Depending on the number of enquiries, this process might take up to one week.

Step 6 – Agree on a completion date

If the paperwork is in order and the buyer is pleased with the responses that you have offered, a contract signing will be arranged during which a completion date will be settled upon by all the parties. In preparation for the next step, the buyer will be requested to fund their solicitor with the agreed deposit amount.

Step 7 – Exchange of contracts

To make the transaction legal and the completion date legally binding, the contracts will have to be exchanged. At this point, the deposit will be transferred to us, and then we will proceed to request a statement of final redemption from your lender.

Step 8 – Conveyancing process for selling a house (finish)

We will receive the full balance of the purchase price from the buyer’s solicitors on the completion day. You will be requested to leave the keys with the estate agent. Once we have received the money, the keys will be released to the buyer. With the money from the sale, we will offset your current mortgage and any other costs related to the sale of the house and send the balance to you.

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We have dedicated team members who cover Loughborough, Stockport, Syston, Lutterworth, Hinckley, Carlton, Hucknall,  Market Harborough, Beeston, Bulwell, Buxton, Leicester, Derby, Oadby, Lewisham

Other topics related to the conveyancing process:

Click on the links below to find out more about:

Buying a house

Selling a house

Right to buy

Unregistered properties

First-time buyer

Leasehold property or freehold property?

Shared ownership

New builds

Buy to let

Remortgaging

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Conveyancing Solicitors Bedford

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