Whether you're a layman looking to understand your own transaction or a lawyer needing assistance with a client's conveyancing our step by step sale and purchase guides will lead you through the process while our mini guides will break the whole thing into manageable chunks and give a deep insight into the key issues and stages. Leasehold, freehold, unregistered, registered – we've got it all covered.
Need help with a remortgage or transfer of equity / deed of gift? Our guides will walk you through the process and highlight some of the common pitfalls. Mortgages and transfers can be very simple procedures but complex issues can sometimes arise and mistakes are easily made. These guides will help you deal with them.
So you want to have a go at your own conveyancing? First you should read about the risks, then if you're still happy to proceed, our guides will take you through each stage of the process telling you what to look out for and helping you avoid falling into expensive traps. Our subscription service will give you access to all of the documents you should need for your conveyancing and we can even supply you with the Land Registry Official Copies you'll need. Our general guides will cover all the obstacles you are likely to face and offer a practical solution. Have a look at our sale and purchase guides too.
A big part of the conveyancing process is the conveyancing searches. This section tells you all about them. What they are, how and when to order them and how to interpret the results. Each search has its own guide and you'll see they are separated into Standard (should be done in every case), Regional (area specific) and Optional (not essential but often useful tools for the would be purchaser). All buyers should beware that when you buy a property, the law assumes that you have seen the information that would have been revealed by searches whether or not you have actually carried them out, so you buy the property subject to the results.
Using a conveyancer to handle your conveyancing will greatly reduce the risk to you and sometimes, particularly if you are taking out a new mortgage, you will have no choice but to instruct a conveyancer. The good news is it doesn't have to break the bank. Get a free, instant quote here. We can also help with quick easy quotes for other moving related services.
Are you looking for the documents you'll need for your conveyancing transaction? Or official copies of the title or other documents from Land Registry. We can help you. Follow the links below.
what are the issues to consider in a delay of 10 month between exchange and completion for a cash buyer
Thank you for your question. On exchange of contracts the purchaser acquires a beneficial interest in the property. To protect that interest, a unilateral notice (if the title is registered) or a C(iv) land charge (if the title is unregistered) should be registered against the title. This prevents the seller or anyone standing in the shoes of the seller from selling the property to someone else in the interim period because it puts potential purchasers on notice of you interest.
Unless this is a new build property which is still under construction then the standard conditions of sale say that the buyer is responsible for the property between exchange and completion. This is a fairly onerous obligation for such a long period and if you are the buyer you might want to consider varying this so that the seller is responsible. It most contracts for new build plots being purchased from major developers this variation is included.
Again, if the property is not a new build which is covered by an NHBC guarantee (in which case the deposit will be insured) you should ensure that the deposit is held by the seller's solicitor as stakeholder. This means it cannot be paid over to the seller until completion. This is normally the case but make sure the seller does not attempt to vary it so that the deposit is held as agents (in which case the seller can receive and spend the deposit prior to completion).
Once contracts are exchanged you are unconditionally obliged to complete on the completion date so you will need to be satisfied that your personal circumstances will not change in the 10 months so as t place you in a position of being unable to complete the purchase.
There are no great issues. You should however consider registering a unilateral notice against the seller's title to ensure it isn't sold to someone else. Make sure the deposit is held by the seller's solicitor as stakeholder and that you insure the property from exchange unless, in both respects, the seller is a large house builder