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What is involved in conveyancing?

PLS Solicitors specialise in advising on the complex area of residential property law, especially Residential Conveyancing. We offer a friendly, efficient and effective legal advice on any area of residential property law.

Get in touch for a free quote or advice from PLS Solicitors, without obligation.

The conveyancing process is quite different depending on whether you are buying or selling a property. On a purchase the sequence of events in residential conveyancing are as follows:

Once you have had your offer accepted on the purchase of a house, you should call or email us asking for a fee quotation.

We will provide you with a full fee quotation. You should check the quotation and then confirm that you are happy to proceed. Once you have accepted our quote, you should then call your Estate Agent with our details so they can send through to us the memorandum of sale.

PLS Client Care Centre will then send through to you, your client care letters; terms of business; purchase details form and advanced payment of search fees. You will need to return these documents back to us either by way of email, in the post or you may upload these forms to our online portal.

We will then check through your signed paperwork and raise with you any queries which are required due to our own internal and external compliance requirements.

Before Exchange of Contracts
1. We receive the initial paperwork from the sellers’ solicitors being the contract for sale; title information document; replies to Transaction forms.
2. We then check through all these documents.
3. We draft a report on title and raise enquiries with the sellers, solicitors.
4. We send the sellers solicitors our enquiries; a draft transfer and our pre-completion requisitions for response
5. We will also at this point send you a draft report on title together with the contract and the transfer deed with completion statement and draft legal invoice.
6. We will also at this point submit for your legal searches.
7. When the Search results come in your report will be amended and further enquiries raised as necessary
8. When we receive the Mortgage offer we will check it, and then do you a mortgage advice letter to you, explaining the terms of the mortgage.
9. We will also send out to you an amended report on title in track changes so you can see the differences between this and the last report, together with a request for your deposit
10. We will send to you SDLT forms in draft for signing at the same time.
11. When we receive your deposit, we will receipt the funds and then exchange contracts. At this point you will then be contractually bound to complete the purchase of the property.

Pre-Completion
1. We’ll carry out pre-completion searches agains the property being, a K16 Bankruptcy Search and also an OS1 search
2. We’ll submit a certificate of title to to the Lender requesting monies the day before legal completion
3. We’ll send you a completion statement, before completion and ask you to transfer the completion monies to us the day before completion.
4. Once we hold all the completion monies we will then CHAPS transfer (a same day transfer) to the sellers solicitors.
5. The Seller’s solicitors will then confirm receipt of the completion monies and will release the keys with the Estate Agent.
6. We’ll then date and complete the mortgage deed and lodge the SDLT form at HMRC and pay any SDLT due.

Post completion
1. Following legal completion, our dedicated post completion team will send to the Land Registry the appropriate form together with the cheque for registration to register you at the Land Registry. We tend to use the electronic form of registering the property, so that you benefit from reduced fees.
2. Once, we have received the completed registration form back from the Land Registry, we will send to the you a copy of the title information document confirming that you own the property.
3. We will then, send your physical file to archives.

If you are selling your property, the process is slightly different. We will carry out the following for you:

Once you have accepted an offer to sell your property, you need to contact us either via filling out our online enquiry form or calling us. We will then email you our fee quote for acting on your behalf.

Once you have accepted, our quote, our Client Care Centre, will email you our client care letters and also upload the forms on our portal for you to complete. The documents, will be our client care letter; terms of business; sale details form; property information forms and fixtures fittings and contents forms.

If the property is leasehold we will ask you for the managing agents details and submit a request to them asking them, for their costs for a standard leasehold information pack.

Pre-exchange
We will prepare and submit to the buyers solicitors a contract bundle for approval which will consist of the following:

If the title is registered
– The draft contract;
– Evidence of your title to the property in the form of official copies of the register and title plan (including official copies of any documents referred to on the registered title);
– An official copy of any registered lease; and

If the title is unregistered:
– A land charges search against the seller and any other appropriate names;
– An official search of the index map;
– Evidence of title by way of what is called “an epitome of title”.
– Replies to the Fittings and Contents Form.
– Planning permission and/or building regulation consents;
– Completion certificates where any alterations or additions to the property have been carried out by you.
– Required consents (e.g. under restrictive covenants).

In relation to leasehold property:
– Replies to the Leasehold Information Form;
– Replies to enquiries made of the landlord/managing agents (where available) with accompanying documentation including three years’ management accounts, a ground rent receipt, a buildings insurance policy with an up-to-date schedule and information about any required Deed of Covenant or other consent to assignment, etc.;
– Official copies of the freehold and intermediate titles;
– A copy of the seller’s share certificate for any landlord/management company where appropriate.
– A deed of covenant or licence to assign if required;
– We will obtain redemption statement from the bank and supply this to you
– We will liaise with you in order to answer additional enquiries on the legal title.
– Once the buyers solicitors have confirmed they are happy with the legal title you are selling we will then agree a completion date and exchange contracts.
– The buyers solicitors will send us the deposit on exchange of contracts which will normally need to be held in our account until completion.

Pre-completion
– We’ll send you a completion statement which will, generally be the purchase price, less the legal invoice less the agents invoice, less the mortgage redemption figure. When we receive the completion monies we will date and complete the transfer deed and dispatch the completion documents including the transfer to the buyer’s solicitor with any agreed undertakings.
– We’ll send sufficient monies to pay off your mortgage.
– We’ll, pay the estate agent’s or property seller’s commission and send to you the balance of the sale proceeds.

Post completion
– We’ll provide the buyer with the form of discharge from your lender as soon as it is received.
– We’ll, put in place any indemnity insurance needed.

PLS Solicitors specialise in advising on the complex area of residential property law, especially Residential Conveyancing. We offer a friendly, efficient and effective legal advice on any area of residential property law.

Get in touch for a free quote or advice from PLS Solicitors, without obligation.

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