Conveyancing: The stages of buying a residential property

If you’re looking at buying a house, then you will already have some idea of how the whole process works. But it can be refreshing and helpful to have a step-by-step guide written down that you can refer to for reassurance. Check out our guide below that outlines the typically stages of buying a residential property. 

Stage one: You will make an offer on the property you want. Once it’s been accepted, you should instruct your conveyancer on the acceptance of the offer.

Stage two: Your conveyancer will arrange for surveys of the property to take place, and will make a mortgage application if it’s needed. They will then confirm the instructions in a letter, which will set out the terms of the buying process and any fixed fee costs.

Stage three: Your conveyancer will communicate with the seller’s conveyance, where they will receive the seller’s contract draft. They’ll raise any queries that need answering and carry out checks of the property.

Stage four: The seller’s conveyancer will respond to any pre-contract queries or concerns, which will be reviewed by your conveyancer. This is the point where you, as the buyer, will raise any questions on anything that you’re unsure about.

Stage five: Once you’re happy to proceed, you will arrange for a deposit to be paid to your conveyancer. Contracts between yourself and the seller will be exchanged, meaning both parties are legally committed to the transaction.

Stage six: Both you and the seller will agree on a completion date, and your conveyancer will prepare a draft transfer deed. The seller’s conveyancer will approve the deed, which usually needs to be signed by the buyer before being sent to the seller for signing.

Stage seven: Your conveyancer will prepare a completion statement and carry out any pre-completion searches. They will then apply to the mortgage lender for the loan (if needed).

Stage eight: On the completion date, the seller will officially vacate the property, and will hand over the keys to the estate agent. Your conveyancer will send the title deeds to the buyer’s conveyancer.

Stage nine: Your conveyancer will send the payable stamp duty to HMRC, receive the title deeds and proof the seller has paid the outstanding mortgage on the property. They will then register your new property in your name at the Land Registry.

Stage ten: You’ll receive your copy of the registered title from The Land Registry, and your conveyancer will send any documents required to the mortgage lender. 

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