Solicitors and conveyancing
Conveyancing is the legal process by which ownership of a property is transferred from the seller to the buyer.
Whether you are a buyer, seller or both, in most cases you will want to hire a solicitor or licensed conveyancer as it can be complicated process.
The Law Society is the professional body for solicitors in England and Wales and they are bound by their code of practice. You can find a solicitor in your area that specialises in conveyancing on the Law Society website. You can also read its guidance about how to use a solicitor and what to do when things go wrong.
Licensed Conveyancers are regulated by the CLC (Council for Licensed Conveyancers) in England and Wales. For more information on the CLC follow the link below
Exchange of contracts and the deposit
At this point, all the solicitors in the chain will exchange the contracts they have drawn up for each property and then a date is fixed for the completion of the sale. This is the date that the property is legally yours and you can move in.
Normally, 10 per cent of your property purchase price will be needed in advance and paid at the exchange of contracts. You are also bound to go through with the purchase or lose the deposit.
Arranging the move
Once you have the completion date you can arrange the day of the move.
A removal company may often be the best way to move all your belongings, but do check your contract with them. If you can't get anyone to recommend a firm to you, contact the British Association of Removers.
- Moving to your new home
Many people are dissatisfied with the present house buying system which can be plagued with delay and anxiety. The Land Registry is developing 'e-conveyancing', an electronic system for the buying, selling and registration of land and property in England and Wales to improve the process. To find out how the new system will work visit the e-conveyencing portal of the Land Registry website from the link below.
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