Conveyancing:Selling your house (conveyancing), is really a simple process.

In law, conveyancing is the transfer of legal title of property from one person to another

English and Welsh law : The normal practice is for the buyer to negotiate an agreed price with the seller then organise a survey and have the solicitor (or conveyancer) carry out their searches and pre-contract enquiries. The seller’s solicitor or conveyancer will prepare the draft contract to be approved by the buyer’s solicitor. The seller’s solicitor will also collect and prepare property information to be provided to the buyer’s solicitors, in line with the Law Society’s National Protocol for domestic conveyancing.. Agreements are not legally binding until contracts are exchanged.

You can carry out the conveyancing yourself, however , sometimes it is best to use the skills and knowledge provided by a solicitor as opposed to venturing into conveyancing your house on your own. A conveyance solicitor usually sets a fixed fee. Your case is tracked and all legalities are taken cared of. For the sake of security, please ensure that your conveyance solicitor is Regulated by the Solicitors Regulation Authority – so you can be confident that your conveyancing transaction is in safe hands.

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Scots law is that the contract is generally concluded at a much earlier stage, and the initial offer, once accepted by the seller, is legally binding. This results in a system of conveyancing where buyers get their survey done before making a bid through their solicitor to the seller’s solicitor. If there is competing interest for a property, sellers will normally set a closing date for the initial offers. The contract is normally formed by letters between the solicitors on behalf of each of the seller and purchaser, called missives. Once all the terms of the contract are agreed, the missives are said to be concluded, and there is then a binding contract for the sale of the property. Normally the contract is conditional upon matters such as the sellers being able, before completion of the transaction, to prove that they have good title to the property and to exhibit clear searches from the property registers and the local authority. From 1 December 2008 properties for sale will have to be marketed with information, now branded as the ‘Home Information Report’. This should consist of: a Single Survey, an Energy Report and a Property Questionnaire local Authority Search and evidence of legal title. The Home Report will be made available on request to prospective buyers of the home.
For more informationon Home Info Reports please click HERE