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Buying a property can be a long and complex process, but there are certain steps you can follow to make it as smooth as possible. Our buying property solicitors can assist you at every stage, ensuring a streamlined process.
The process of buying property can be complex, with plenty of steps to navigate. At SMR Solicitors, our team can deliver a clear and fully comprehensive service to ensure your transaction is as straightforward as possible. We have a wealth of experience, allowing us to expertly guide you through and help you to avoid potential issues.
Our buying property solicitors are committed to providing a friendly and high-quality service From the outset, we will ensure that you are aware of the steps involved, answering any questions and queries you may have.
At SMR Solicitors, we can assist clients across West Sussex, providing a convenient service to suit you. For example, we can meet in our offices, or handle your case via video conferencing, by telephone, or email, depending on your preferences.
Speak to our buying property solicitors in West Sussex
To discuss your requirements and find out how we can help, please get in touch to speak to one of our expert solicitors.
- BOGNOR REGIS - 01243 860323
- CHICHESTER - 01243 780211
- EAST WITTERING - 01243 671782
- SELSEY - 01243 602832
Conveyancing process for home buyers explained
What are the steps in conveyancing?
In the conveyancing process, there are three major steps involved. These include:
Purchase offer and acceptance
When the offer is accepted, the estate agents will issue a document that contains the details of the transaction, (known as the Memorandum of Sale). This document covers the agreed price as well as any conditions of sale and or appropriate timescales.
Until the exchange of contracts, there is no binding agreement between the buyer and the seller. If one party would like to withdraw from the sale prior to the exchange of contracts, they are able to do so.
Should you choose our solicitors for buying a house, we will check the necessary legal documents and raise any enquiries about the property or documents with the buyer's solicitors. We will also conduct all necessary searches on the property, including a local authority search and a water and drainage search.
If a mortgage is necessary for your purchase, you can apply and arrange it at this stage.
Exchange of contracts
Once any enquiries have been answered and we have received the requested searches, we will approve the contract, which will then be sent to you for signing together. We will also send a report on the deeds and the enquiry results. Once the exchange of contracts has taken place, both you and the seller are committed to completing the transaction on the date agreed.
When you return the contract, we shall also need a deposit. This is usually 10% of the purchase price (though 5% may be agreed under certain circumstances).
Our solicitors will send you a financial statement detailing the balance required to complete, together with a SDLT form for you to check and sign.
We will request the mortgage funds from your lender and ask that you transfer any balance so that it is cleared in our account the day prior to completion. If we are buying and selling for you, we will transfer any proceeds from the sale of your existing house on the day of completion.
Completion
At this stage, our lawyers will send the funds to the seller’s solicitors, pay the SDLT on your behalf and deduct our fee. Completion usually happens around 1.00 pm, but it is dependent upon the lenders and the number of parties in the chain.
Once the money has been received by the seller's solicitors, you will be able to pick up your keys at the estate agents.
Our solicitors will receive the deeds from the seller’s solicitors and will send a registration application to the Land Registry to complete the formalities.
Once registration has been completed, we will send a copy of the deeds to your lender and the originals to you. We can keep the deeds at our offices or forward them elsewhere if you wish.
What exactly do conveyancers do?
Conveyancers have a responsibility to handle all legal matters of the conveyancing process from start to finish.
When you instruct our team at SMR Solicitors, we will ensure your transaction is straight forward as possible.
Our conveyancers will be responsible for handling matters, including:
What is the difference between a solicitor and conveyancer?
Both solicitors and conveyancers have the qualification to deal with property transactions, but solicitors have additional qualifications that conveyancers do not have, allowing them to handle other legal matters.
How much does a conveyancer cost?
How much a conveyancer costs, depends on the type of legal assistance you require for your property transaction and the law firm you choose to instruct for your services.
See our buying property solicitors’ fees for more information on our legal fees.
Do I need a solicitor for conveyancing?
If you are purchasing your property with a mortgage, there is a legal requirement to have a solicitor during the conveyancing process.
But where you are purchasing a property with cash in hand, there is no legal requirement to have a solicitor. Despite this, we highly recommend acquiring legal advice to ensure everything is done correctly and that delays are avoided.
Our buying property solicitors’ fees
At SMR Solicitors, we believe in providing our clients with complete transparency over our legal fees, and for this reason, we provide a clear estimation of our costs from the outset. In most circumstances, our conveyancing fees will be on a fixed fee basis.
There are some occasions where matters may be more complex and not appropriate for fixed fees. Instead, we will provide our services on an hourly basis, meaning we can provide a higher level of expertise and support.
Should you need more information regarding the cost of our conveyancing service, please don’t hesitate to contact us, and we will be more than happy to accommodate you.
Speak to our buying property solicitors in West Sussex
To discuss your requirements and find out how we can help, please get in touch to speak to one of our conveyancing lawyers in West Sussex.
