You will find a lot of information online about what to expect from a conveyancer when you are buying a property, but what about if you are the one who is selling the property? What many people may not realise is that the process is actually quite different. Here are the steps that are involved, in brief.
Instructing your Conveyancing Solicitor
A large amount of the conveyancing process is actually you instructing your solicitor on the sale of the property. However, there are a lot of steps involved in this process, once you have chosen a solicitor to hire. Once you have settled on a solicitor, you will receive a series of forms about the property for sale. You will need to sign and return these to your conveyancer. Once all information has been passed to your conveyancer, a draft contract will be drawn up, and sent on to the buyers conveyancer or solicitor. Your conveyancer and the solicitor for the buyer will then negotiate terms. Once terms have been settled, a final contract will be composed and then passed on to you. Contracts between the conveyancer and solicitor will be exchanged, and a deposit for the property will be placed.
Carrying Out the Transaction
Once the previous steps are completed, you will receive documents to transfer the deeds to the new property owner. You will need to sign these documents, and pass them on to your conveyancer. Once the entire payment has been received, the conveyancer will pay the fees out of the proceeds of your property sale. That includes the fees owed to himself, and any disbursements that may be incurred. He will then transfer the money to you, at which point, you will need to hand over the keys to the new property owner, and the process is then complete.
Although this may sound like a simple process, there are actually a lot of steps involved, and it can often take well over a month. However, hiring a conveyancer will make the process considerably easier on you, because they will act on your behalf throughout the entire process. Essentially, all you need to do is sign a few forms. Of course, it is not exactly that black and white, but you get the picture. So, if you are going to be selling a property, then it is definitely a good idea to consider hiring a professional conveyancing solicitor.