Conveyancing FAQs
Confused about how online conveyancing works? Read on to find out more…
Q. What is conveyancing?
Conveyancing refers to the process of buying or selling a property and is a specialist branch of law that involves the preparation of documents necessary for the purchase or sale of property.
The conveyancing process involves many steps that will all need to be completed before the exchange of contracts and completion stage of a property transaction.
The conveyancing process involves many steps that will all need to be completed before the exchange of contracts and completion stage of a property transaction.
Q. How long will the conveyancing process take?
The length of the conveyancing process can change from one property transaction to another and can be heavily influenced by external factors, for example how long local authority searches take in any given area of the UK.
There can be huge differences in how fast searches are returned and consider too that individual solicitors can act more speedily than others, but in a straightforward freehold property transaction, conveyancing will take approximately 6 to 10 weeks to complete.
The Property Portal offer a number of services that can reduce the time it takes to complete. Whether buying or selling, we have a number of ways to speed up the process for you. Find out how we can save you time and get you moving more quickly by contacting us today.
There can be huge differences in how fast searches are returned and consider too that individual solicitors can act more speedily than others, but in a straightforward freehold property transaction, conveyancing will take approximately 6 to 10 weeks to complete.
The Property Portal offer a number of services that can reduce the time it takes to complete. Whether buying or selling, we have a number of ways to speed up the process for you. Find out how we can save you time and get you moving more quickly by contacting us today.
Q. Can conveyancing be done online?
Yes, conveyancing can be done online. It used to be the case that you would find a local conveyancing solicitor and may deal with them face to face and over the phone, but these days online conveyancing is often more convenient and can be quicker and cheaper too.
When you use a service like The Property Portal you will have your own Property Consultant that you can contact by phone, email or the Portal so you can be rest assured you will always be kept up to date and will be able to contact your conveyancer whenever you need to. Signature of documents can be done digitally and ID verification carried out with facial recognition tools.
When you use a service like The Property Portal you will have your own Property Consultant that you can contact by phone, email or the Portal so you can be rest assured you will always be kept up to date and will be able to contact your conveyancer whenever you need to. Signature of documents can be done digitally and ID verification carried out with facial recognition tools.
Q. Is it possible to speed up the conveyancing process?
There are a few things you can do to help speed along the process, but there’s no real way of guaranteeing the process can be completed faster or within a certain period of time. The Property Portal can assist with ensuring searches are underway in early course, instructions are dealt with effectively and we ensure that we proactively progress your matter weekly.
It is, however, worth being aware of some of the things that can lead to conveyancing delays which include:
Problems or delays in obtaining a formal mortgage offer
Long chains and delays or breaks within the chain
Missing key documentation
Delays in funds clearing
Purchasing a new-build property that isn’t finished yet
Surveys revealing problems
Delays in local authority searches
It is, however, worth being aware of some of the things that can lead to conveyancing delays which include:
Problems or delays in obtaining a formal mortgage offer
Long chains and delays or breaks within the chain
Missing key documentation
Delays in funds clearing
Purchasing a new-build property that isn’t finished yet
Surveys revealing problems
Delays in local authority searches
Q. What exactly is a chain?
A chain is made up of a number of property transactions. Each of these purchases is linked to the other and will typically need the purchase before it to complete first before the next completion can go ahead and so on.
The bottom or start of the chain is regarded as a buyer with no property to sell, for example a first time buyer, whilst the end of the chain is the final property purchase to complete where the seller is not buying another property.
Because each completion is dependent on the purchase before and after it , if something happens to delay completion or for example, if a buyer pulls out at the last minute, the chain is broken and will need another buyer to restore it.
The shorter the chain, generally the smoother and quicker the process can be, but there are always exceptions to the rule.
The bottom or start of the chain is regarded as a buyer with no property to sell, for example a first time buyer, whilst the end of the chain is the final property purchase to complete where the seller is not buying another property.
Because each completion is dependent on the purchase before and after it , if something happens to delay completion or for example, if a buyer pulls out at the last minute, the chain is broken and will need another buyer to restore it.
The shorter the chain, generally the smoother and quicker the process can be, but there are always exceptions to the rule.
Q. How long do conveyancing searches take?
Before you exchange contracts and become committed to buying a property, it is imperative that you know as much about the property as possible. Searches refer to a variety of different pieces of information held about the property and the land that it sits on.
Various different authorities will hold information about the property and your mortgage lender will usually stipulate what searches they require, however there may be additional searches you’ll want to consider too.
Various different authorities will hold information about the property and your mortgage lender will usually stipulate what searches they require, however there may be additional searches you’ll want to consider too.
Q. What sort of things could conveyancing searches reveal?
Although there are many different types of searches available which can reveal a whole host of issues, some of the things that might more commonly be covered include:
Planning applications close by that could impact the property
Flood risk
Potentially contaminated land
Land negatively affected by the effects of mining
Planning applications close by that could impact the property
Flood risk
Potentially contaminated land
Land negatively affected by the effects of mining
Q. What conveyancing searches are available?
There are numerous different searches available that your conveyancing solicitor can carry out for you, typically including:
Local authority
Water authority
Environmental
Location specific
Local authority
Water authority
Environmental
Location specific