veritas law solicitors blackburn
01254 720 018
solicitors in blackburn

The Conveyancing Process Explained

The conveyancing process may appear complex but can in fact be broken down into 3 distinct stages.

  1. Pre-exchange of contracts
  2. Exchange of contracts
  3. Completion

Below is a simplified outline of what happens during the whole process. If you have questions about the process please contact us.

1. Pre-exchange of contracts

2. Exchange of contracts

When both parties are happy with the details of the transaction signed contracts are exchanged. It is at this stage that the transaction becomes legally binding upon both parties. The buyer will pay a 10% non refundable deposit to the sellers via the solicitors.

A completion date is set whereby the property will be handed over to the buyers.

3. Completion

Final searches are carried out by the buyers solicitor.

The balance funds are transferred to the sellers us

Sellers leave the property and hand over keys to the buyer (usually through the estate agent).

Sellers solicitor repays their mortgage (if they have one), lets the seller have the balance sale proceeds and sends the title deeds to the buyers solicitor.

Stamp duty is paid if applicable by the buyers solicitor.

The buyers solicitor registers the change of title with the Land Registry.