To help you understand the legal process that occurs in a property transaction we have provided you with a step by step guide, as seen below:

Step by step guide

1. Sale of your property - Once your sale has been agreed, you should inform us of your conveyancing solicitor’s details so that we can send them the relevant paperwork.

2. Getting started - Initially the solicitor will provide you with a formal instruction form and other documents which will enable them to gather all of the relevant details about you and your house. Once you confirm your interest in working with the solicitor, they will proceed with the transaction.

3. Purchase of your property - The solicitor can also carry out all of the legal work involved in the purchase of your property. Initially, all you need to do is provide us and your mortgage broker with the solicitor’s details. Your selling agent's solicitor/conveyancer will then be able to contact your solicitor to confirm instructions.

4. Searches on your purchase - Once your newly appointed solicitor has received the contract documentation from your sellers’ solicitor, they will be able to affect the necessary searches of the Local Authority, Water Authority and Environmental Agency.

5. Mortgage details - Your lender will send you and your solicitor the mortgage offer. The solicitor is responsible for explaining the terms and conditions of your mortgage offer. The Contract documentation and Mortgage Deed will then be sent to you for approval and signature.

6. Exchange of contracts - Exchange of contracts takes place between the two parties’ solicitors, usually by telephone. Following exchange, your signed contact is forwarded to the other party’s solicitor/conveyancer and they in turn will send their party’s signed contract to your solicitor. At this stage, you and your seller/buyer will be legally committed to the transaction.

Completion of your move

On the day of legal completion, your solicitor will:
•    Arrange legal paperwork
•    Discharge your mortgage and/or draw-down funds for your new mortgage
•    Pay your fees as per the Terms of Agency Agreement you have signed
•    Arrange the legal documentation to be signed for the transfer of the      property at H M Land Registry and register your ownership
•    Arrange your Stamp Duty payment, payable to the Inland Revenue

Payment of fees

Prior to legal completion, your solicitor will require any monies due to them to be cleared funds in time for legal completion. They will deduct their fees and disbursement costs and stamp duty from the balance at legal completion. Finally, you will liaise with your agent for the release of the keys to the property