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Conveyancing Solicitors Hinckley

The process of buying or selling a house is an intricate and delicate one. You need to understand the law and that documentations required for your purchase or sale are to be considered legal and complete. With the help of conveyancing solicitors in Hinckley, you can make this process much easier and more transparent.

Conveyancing process for buying a house

Step 1 – Initial instructions from you (start)

To start your process of buying a house, we need to receive instructions from you. After you get in touch, we will need to collect some information and thus will ask you to complete some paperwork for us and provide us with some form of identity. If you would like to have any searches conducted, we will ask you to send us the funds to facilitate this process.

Step 2 – Receive draft contract

The seller’s solicitors will complete a draft contract and then send it. Among other things, the contract will include property forms, duplicates of any relevant documents regarding the property and official copies (electronic deeds).

Step 3 – Searches and investigation of title

In the third step, our conveyancing solicitors in Hinckley will start by conducting the searches that you have requested. We will also review the paperwork that has been sent over by the seller’s solicitor. The period of time taken in this step depends on the number of inquiries we need to be clarified from the seller’s solicitors who then refer to the seller.

Step 4 – Report

After enquiries have been clarified and with the results of the searches at hand, we can create a report on the property you would like to buy. This will be accompanied by the mortgage offer. We will also set out the financial side of the process so that you obtain the completion statement. This will highlight how much you need to pay.

Step 5 – Signing

If you’re satisfied with the paperwork, the next step is to arrange for the signing and the setting of a completion date. The completion date is agreed upon by all the parties in the transaction. You will then transfer the deposit (usually 10% of the purchase price) to us. The last part of this step is the exchange of contracts which we will do after the deposit has been transferred.

Step 6 – Exchange of contracts

Once the contracts have been exchanged, the completion dates and the transaction now become legally binding. We will send the deposit you had earlier sent to us to the seller’s solicitor after which a request for your mortgage advance will be paid from your lender. You must have completed all your payments to us at least a day before the completion can be facilitated.

Step 7 – Completion of Conveyancing process

On the much awaited ‘moving day’ the completion is done by completing the full purchase price to the seller’s solicitor. The estate agent will be left with the key after the funds have been received and they will be later released to you.

Conveyancing process for selling a house

Step 1 – Initial instructions from you (start)

Selling a house is slightly different. We will start by having a meeting about the sale of the house and any related details; this will help to kick-start the process. You will then be required to complete the initial paperwork (this will contain protocol forms with detailed questions about the property you’re selling), provide some form of identity and send any funds for office copy entries.

Step 2 – Contact with your mortgage lender

From your mortgage lender, we will request for a statement showing how much you’re yet to pay on the property and also apply for the current title deeds to the property.

Step 3 – Obtain documents from the Land Registry

One of our conveyancing solicitors in our Hinckley branch will obtain the official copies (electronic deeds) from the land registry. This will cost you approximately £12.00.

Step 4 – Preparation of draft contract

We will prepare the draft contract for the sale of the property. This is then sent to the buyer’s solicitors along with any other relevant copies that include protocol forms and official copies. The buyer’s solicitor has to go through all the documentation and verify the contract paperwork. This could take up to one week.

Step 5 – Enquiries raised by buyer’s solicitor

In case there are any questions, the buyer’s solicitors have the opportunity to get in touch with us and we may refer the same questions to you for clarification. The buyer’s solicitors can also carry out any other searches requested by the buyer during this step.

Step 6 – Agree on a completion date

At this stage, an arrangement can be made for the signing of the paperwork and the completion agreed on by all parties in the transaction. This is only done when the buyer is happy with the responses to the enquiries. The buyer then transfers 10% of the buying price of the house as a deposit to their solicitor. This alerts us to prepare for the exchange of contracts.

Step 7 – Exchange of contracts

Once the contracts are exchanged and the transaction has been completed, the date of completion is legally binding. The buyer’s solicitors will transfer the deposit to us and then request your lender for a final redemption statement.

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

When we have received the full balance of sale price from the buyer’s solicitor, you will be required to leave the keys with the estate agent who passes them to the buyer once the funds are received. This is done on the much awaited ‘moving day’ when the conveyancing process is completed. All balances including your mortgage balance will be repaid and the remaining balance sent to you. Begin your house sale and purchase with the help of our conveyancing solicitors in Hinckley.

Kick start the conveyancing process and get a quick, instant conveyancing quote today: CLICK HERE

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 Hinckley

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