Moving home can be a very complicated and drawn-out process at the best of times. Just the thought of packing all your belongings into moving boxes can make chills run down your spine. However, the legal side of moving house is sometimes even more stressful. You’ll be in contact with your estate agent, various lawyers, insurers, and goodness knows who else!
Many people are unaware of the legal requirements when moving until it’s too late and they’re right in the middle of a move. Consequently, consider this blog post as a little guide to help refresh your knowledge and understand the entire conveyancing procedure.
When you move home, there will be a contract drawn up between both the buyer and seller involved. If you’re selling your home, your solicitor will draw up the first draft of this contract. It’s vital that you choose a conveyancing solicitor with years of experience, so the contract can be created properly and without any glaring errors. Choose a specialist conveyance lawyer who have been operating in the industry for years, so you can confidently trust them to write the contract for you.
This contract is sent to the buyer’s solicitor, along with a form that contains information on your property and anything you’re leaving behind in it. If the buyer and their solicitor are happy with everything, then it can be sent back to your solicitor as soon as possible. If they have any issues, they’ll make amendments and send it back. Amendments can be made by both parties until an agreement is reached.
Exchange Of Contracts
When the contract has finally been agreed upon, and all the fine details are fine for all parties involved, you can exchange contracts. Your solicitor gives you part of the contract to sign, and the other party gets theirs from their solicitor. Both people sign the contracts, and then the solicitors do the rest. Contracts are exchanged over the phone, and the deal for the sale of the house is now legally binding.
From this point on, you can’t legally pull out of the sale, and the buyer can’t pull out of their purchase.
The next step after this is the agreement of a completion date. This is where everything is finally completed, and the buyer’s solicitor transfers the money to the seller’s solicitor. The buyer gets the keys to the house, and the seller gets the money from their solicitor.
If you’re buying a new house, then you need to pay for a survey to be conducted on the property. A solicitor can help you with this, as they may well work with chartered surveyors or have trustworthy contacts for you to use. The survey will basically show the condition of the property, and if any repairs need to be done right away. This is important as you, and your solicitor can negotiate with the seller to lower their asking price based on the survey results.
It’s so important to work with conveyancing solicitors that can handle all these different legal requirements for you. In doing so, they can take a lot of the stress out of moving, leaving you to focus on packing your things or searching for a new home.