ESSENTIAL INFO

OFFICES

©2019 Viney Becks LTD.  All rights reserved.
Practice Licence Number 11115.

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Timescale

SALE

PURCHASE

Acceptance of Offer

- agree price with buyer

Seller to:
- appoint conveyancer
- hand over deeds or give lender's details
- complete forms
- list items included in sale and return to conveyancer

Seller's conveyancer:
- apply for copies of title from Land Registry/retrieve deeds
- prepare conract bundle
- send contract bundle to buyer's conveyancer
- deal with enquiries raised by buyer's conveyancer

Seller's conveyancer:
- receive approved contract from buyer
- arrange for seller to sign the contract

Seller to:
- sign the contract
- agree with buyer and other parties in chain (if any) on completion date

Exchange contracts

Seller's conveyancer:

- collate figures
- prepare completion statement
- arrange for seller to sign the transfer deed

Seller to:
- sign transfer deed
- make arrangements to move

Completion

Seller to:

- hand keys to selling agents
- read meters

Acceptance of Offer

- agree price with seller

Buyer to:
- appoint conveyancer
- apply for mortgage
- pay search fees to conveyancer
- arrange for survey

Buyer's conveyancer:
- receive contract bundle
- apply for searches
- investigate title and supporting documents
- approve and return contract to seller's conveyancer with any enquiries on the title

Buyer's conveyancer:
- receive and check mortgage offer
- receive and check search results

- prepare reports and arrange for buyer to sign the contract

Buyer to:

- sign the contract and mortgage deed
- provide conveyancer with deposit

- agree on completion date with seller and other parties in chain (if any)

Exchange contracts

Buyer's conveyancer:

- pass on deposit to seller's conveyancer
- apply for funds from lender (if any)
- carry out pre-completion work including completion statement

Buyer to:
- sign transfer deed
- make arrangements to move
- place building insurance on risk
- arrange to pay balance of funds

Completion

Buyer to: 

- collect key from seller's agents
- read meters

Note: the national average timescale for the transfer of property ownership is 2-3 months.

Find out more by following this link:
https://www.gov.uk/buy-sell-your-home