Conveyancing

Conveyancing is the legal process of transferring ownership of a property from one person to another. It includes several steps such as conducting property searches, reviewing contracts, dealing with the Land Registry, and transferring the funds to pay for the property. It is a critical part of any property transaction, be it a purchase, sale or remortgage.

The importance of having a skilled, knowledgeable conveyancer cannot be understated. A conveyancer not only safeguards your interests in the transaction but also ensures that all legal obligations are met, and the transaction completes within the necessary legal framework.

The duration of the conveyancing process varies greatly depending on the complexity of the transaction and the needs of the parties involved. On average, the conveyancing process for a straightforward transaction varies depending on multiple factors including economic and political influences. However, at Ramsdens, we will always complete your conveyancing transaction diligently and in a timely manner.  

Our team of conveyancing specialists work to ensure a smooth transaction, striving to resolve any issues that may arise whilst keeping you informed throughout. Our extensive experience and proactive approach allows us to anticipate potential setbacks and manage them efficiently to minimise delays.

Whether you are a first-time buyer or an experienced property investor, we understand that every client’s needs and circumstances are unique. We commit ourselves to provide the best possible service to ensure that your property transaction progresses smoothly and meets your timeline.

The cost of conveyancing is dependent on a number of factors, including the type and value of the property, the complexity of the transaction, and any additional services required. Generally, conveyancing fees can be split into two categories:

• Conveyancer fees: this is the cost of the service provided by your conveyancer. At Ramsdens Solicitors, we offer a competitive and transparent pricing structure, which we will discuss with you at the outset
• Disbursements: these are costs that must be paid to third parties throughout the process. They can include charges for property searches, Land Registry fees and bank transfer fees

Please note that if you are buying a property, you may also need to pay Stamp Duty, which is not included in the conveyancing fees.

It is our policy to provide a detailed conveyancing quote at the beginning of the process, giving you a clear understanding of the costs involved in your property transaction. We promise to always be as clear as possible regarding fees and all other aspects of our work.

During the conveyancing process, a variety of searches and checks are required to uncover any potential issues that could affect your use or enjoyment of the property, or its value. 

These typically include:

• Local authority search: this search will reveal information about planning permissions and building control history related to the property, any enforcement actions for violation of planning rules, and details of any nearby road or traffic schemes
• Water and drainage search: this search confirms whether the property is connected to the public water supply and drainage system
• Environmental search: this search can provide information about potential contamination or flood risks
• Land Registry search: this confirms the seller’s ownership of the property
• Chancel repair liability search: this reveals whether the property is liable for contributions towards the repairs of a local church

At Ramsdens, our expert team conducts these and other necessary searches as part of our comprehensive conveyancing service, providing you with peace of mind in your property transaction.

In the process of residential conveyancing, exchange and completion are two significant milestones that represent different stages of the property transaction.

• Exchange: this is the point at which the buyer and seller exchange signed contracts, and the transaction becomes legally binding. The buyer typically pays a deposit (usually 10% of the purchase price) at this stage. After the exchange of contracts, both parties are committed to the sale and purchase of the property and penalties will be incurred if you change your mind
• Completion: this is the final stage of the conveyancing process. On the day of completion, the balance of the purchase price is transferred from the buyer’s solicitor to the seller’s solicitor. Once the funds are received, the seller must vacate the property, and the keys are handed over to the buyer. The property ownership is then registered in the buyer’s name at the Land Registry

The period between exchange and completion can vary depending on the parties’ agreement, ranging from the same day to a few weeks later.

If a property sale falls through before the exchange of contracts, either party is free to withdraw without incurring a penalty. However any costs incurred, such as solicitor’s fees or survey costs, will usually still need to be paid.

If the sale falls through after the exchange of contracts, the party withdrawing from the transaction may face severe financial penalties. For example, if the buyer pulls out, they may lose their deposit. If the seller withdraws, they could be sued for breach of contract.

Technically, it is possible to carry out the conveyancing process yourself, without the assistance of a solicitor or licensed conveyancer. However, it is not recommended that you attempt this. Property ownership may include restrictions on how you can use a property, for example, you may buy a house with the intention to extend, but the deeds may prevent you from doing so. Experienced conveyancers will be able to highlight something like this for you and prevent you from potentially making a very expensive mistake.

Mistakes or oversights can lead to significant issues, potentially resulting in financial loss or legal problems.

By choosing Ramsdens Solicitors, you can be assured of a professional and thorough conveyancing service. Our experienced team of conveyancing professionals will guide you through each step of the process, offering peace of mind and ensuring your property transaction runs smoothly.