What is residential Conveyancing?

15 July 2022

If you are looking to buy or sell a property, you may have heard about conveyancing before, but may not know what it means or what are the processes.  That is why we at EPO Solicitors have pulled some information to help you to understand what residential conveyancing is.

Do you know what is Residential Conveyancing?

Residential conveyancing is the process of transferring a property from a legal owner to another one, be it a purchase or a sale. As the transference can be very complex, a solicitor may be required to properly complete the process. But what are the processes?

Residential conveyancing

Process of Residential Conveyancing

The residential conveyancing process starts when an offer is accepted and finishes when the buyer receives the keys. It can take from 8 to around 12 weeks, but it will vary in every single case, being possible to take a bit longer or faster.

That said, once the sale is agreed upon, the legal information must be pulled together to be sent to the solicitors in charge. The document must contain the property information, a copy of the title of the property, the contract of the sale and a content form that will indicate which items are in the property that will stay or be taken.

Both the seller and the buyer’s lawyers should pull a contract that must contain information about the property state, warranties, permissions, etc. and then conduct searches on the property – which is the most important process.

The searches are separated into three different processes. These are made to confirm some information such as building regulations, water pipes location, details of surrounding areas, and if the road of the property or the drains are maintained by local authorities or private.

Upon completion of this process, the stamp duty land tax (SDLT) is paid to register the purchase and then the completion process begins with the transfer of funds and the exchange of contracts, where both parties will formally agree to the completion date. This is when the keys can be delivered by the sellers’ solicitors and the very last step will take place: The register of the ownership of the property.

Contact EPO Solicitors

If you would like to know more about residential conveyancing then don’t hesitate to contact us. We have a team of specialists that are happy to help with any queries you may have!