Conveyancing Guide - if you're just buying

When it comes to buying your own home, ignorance is NOT bliss. It can be a stressful time, and not knowing what happens next only adds to the worry. To help with this we always make a point of keeping you informed throughout the transaction. This guide should help some more by giving you an overview of the main steps in a purchase.
If you move your mouse over any of the "Jargon" words (in pink) an explanation of what they mean will pop-up. Please feel free to print out the guide and give it to your friends. Please do not copy it for commercial gain.

We will firstly contact the seller's solicitors and ask for details of how we can get hold of the Home Information Pack (or HIP). This contains the local authority and water searches. If the property is in a mining area we'll have to request a mining search as well. Searches are simply a list of questions about the property that are sent to the local council, the water authority and the Coal Authority. When we get a copy of the searches from the HIP we'll have to make sure that the searches are OK for us to use (they have a shelf life of around 6 months and we'll need to make sure they haven't 'expired'. If they have run out then we'll need to request fresh searches). The HIP will also contain a copy of the title deeds. We'll also request the Sellers solicitor to let us have a contract, and questionnaires filled out by the seller.

The only other thing we will need before we can proceed is a copy of your mortgage offer (if applicable). Once we have all of the relevant documents, we will ask you to sign the contract. If you are just buying then we will ask you to for a deposit as well (you will be told how much is needed), but if you are buying and selling then this will generally not be needed.

We will go through all the above documents with you (either in the office or by preparing a plain english report for you to read at your leisure) and explain any problems there may be with the property. Once you are satisfied that there are no major problems, then you are ready to exchange contracts.

Once the buyer and the seller are ready, a Completion Date (the "moving date") is agreed. We then exchange contracts (this means swapping the contract signed by the seller for one signed by the buyers - together with a deposit provided by the buyers). Once contracts are exchanged the contract is binding and neither party can withdraw without incurring massive expense.

On the Completion Date, we hand over to the seller's solicitor the remainder of the purchase money and in return receive the transfer document and the title deeds.

We must then within twenty-eight days arrange for the payment of stamp duty (if appropriate) and, within two months of the completion date, apply to register the buyer's ownership at the Land Registry.