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Conveyancing Solicitors Lutterworth

When selling or buying a house, you need the help of conveyancing solicitors in Lutterworth who understand the process and laws regarding property purchase or sales. In our simple seven-step process, we will help you buy or sell that home with ease and within the structure of the law.

Conveyancing process for buying a house

Step 1 – Initial instructions from you (start)

To initiate the process, our conveyancing solicitors in Lutterworth will need to get instructions from you. We will also ask you to complete the initial paperwork to make the process official and also provide us with your form of identity. If there are any searches that you would like us to conduct, we will ask you to send us the funds to facilitate that process.

Step 2 – Receive draft contract

The draft contract, which includes property forms, official deed (electronic deeds) and other documents pertinent to the property will be prepared by the seller’s solicitors and then sent to us.

Step 3 – Searches and investigation of title

In this stage, any searches that you have requested will be conducted. The received draft contract will also be reviewed and verified. In case any questions arise, we will get in touch with the seller’s solicitor who can then seek clarification from the seller. This might take some time depending on the clarifications required.

Step 4 – Report

A report will be created on the property after we obtain the search results and we have all the answers to the questions we asked. We will also set out your financial obligations and avail a completion statement indicating the total sum of money you’re to pay.

Step 5 – Signing

The signing of the contract is arranged if you’re happy with the details and the replies to the questions and the all the parties then agree to a completion date. You will then be required to deposit 10% of the purchase price of the house with us a deposit to organise the exchange of the contracts.

Step 6 – Exchange of contracts

Once the contracts have been exchanged, the transaction and completion days become binding. We will forward the deposit to the seller’s solicitor and at the same, a request for your mortgage advance will be paid from your lender. All balances due from you have to be cleared at least one working day before completion.

Step 7 – Completion of Conveyancing process

The ‘moving day’ marks completion. Here, the full purchase price is transferred to the seller’s solicitor and keys left with the estate agent. Once the funds are received, the keys are then given to you.

Conveyancing process for selling a house

Step 1 – Initial instructions from you (start)

Selling and buying a house are slightly different. To start the process, our conveyancing solicitors in Lutterworth will have a discussion about the sale and we will take note of all the important details. With these, we can start the process. We will also ask that you complete the initial paperwork and also get your form of identity. The initial paperwork comprises of protocol forms with detailed questions regarding the house you’re selling. If there are any office copy entries needed, we will ask you to send us the funds.

Step 2 – Contact with your mortgage lender

We will request for the current title deeds of the properly and request a statement to verify how much mortgage you still have to pay from your mortgage lender.

Step 3 – Obtain documents from the Land Registry

For a cost of around £12.00 (incurred by you), we will obtain up to date copies of the electronic deeds (Official copies) from the land registry.

Step 4 – Preparation of draft contract

In the fourth step, we will prepare the draft contract for the sale of the house. We will pair this with the protocol forms, the official copies and any other document necessary in the process and send them to the buyer’s solicitor. It may take up to a week for the recipient to read and verify the contract and attached paperwork.

Step 5 – Enquiries raised by buyer’s solicitor

This window allows the buyer’s solicitor to conduct due diligence. They can carry out other searches requested by the buyer and also reviewed the paperwork we sent. If they have any questions regarding the property, they may use this opportunity to reach out to us and ask those questions. If necessary, we may seek clarification from you on the same.

Step 6 – Agree on a completion date

We can now set a date for the signing of the contract and completion if the buyer is happy with the responses to the questions. The buyer then transfers the deposit (10% of the buying price) to their solicitor. This serves as an indicator for us to prepare to exchange the contracts.

Step 7 – Exchange of contracts

The essence of exchanging contracts is to make the completion date and transaction legally binding. Once this has been done, the buyer’s solicitor will transfer the deposit to us, and we will request a final redemption statement from your lender.

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

The full balance of the sale price is received from the buyer’s solicitor in this stage of the completion date also known as the ‘moving day’. Once the funds are received, you’re to leave the keys with the estate agent who will release them to the buyer once the funds have been received. From the funds, we will clear the remainder of your mortgage (if any) and any other fees. The remaining balance will then be sent to you. Begin your house sale and purchase with the help of our conveyancing solicitors in Lutterworth.

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 Lutterworth

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Edward Hands and Lewis have been in business for well over 100 years and we understand our client's needs. Here are a few reasons why you should use us.
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