Having your offer accepted on a property is an exciting milestone. After searching for the right home and successfully negotiating a price, it can feel as though you are almost at the finish line. However, there are still several important steps to complete before you become the legal owner and can collect the keys.

Understanding what happens next can help you feel more prepared and give you a clearer picture of the conveyancing process.

Instructing a conveyancer

If you have not already done so, one of the first things you should do is instruct a conveyancer. Your conveyancer will manage the legal aspects of the transaction, liaise with the seller's solicitor and guide you through each stage of the purchase.

The earlier a conveyancer is instructed; the sooner they can begin work on your behalf.

Mortgage and valuation

If you are buying with the assistance of a mortgage, your lender will continue processing your application. This usually involves assessing your financial circumstances and arranging a valuation of the property.

Once approved, the lender will issue a formal mortgage offer. Your conveyancer will review the offer and ensure that any lender requirements are satisfied before completion.

Reviewing the legal documents

The seller's solicitor will prepare a contract pack and send it to your conveyancer. This typically includes the draft contract, title documents and property information forms completed by the seller.

Your conveyancer will carefully review these documents to identify any legal issues that could affect the property or your ownership of it.

Searches and enquiries

As part of the purchase process, your conveyancer will order a number of searches. These commonly include local authority, drainage and water, and environmental searches.

Searches can reveal important information that may not be apparent from a viewing, such as planning restrictions, flood risks or proposed developments nearby.

Once the documents and search results have been reviewed, your conveyancer may raise enquiries with the seller's solicitor. These enquiries are designed to clarify any issues or obtain further information about the property.

Exchange of contracts

When all enquiries have been satisfactorily answered, searches have been returned and your mortgage offer is in place, your conveyancer will provide you with a report on the property.

You will then be asked to sign the contract and arrange for your deposit funds to be transferred.

Exchange of contracts is the point at which the transaction becomes legally binding. A completion date will be agreed and both parties are committed to proceeding with the sale and purchase.

Completion day

On the agreed completion date, the purchase funds are transferred to the seller's solicitor. Once the funds have been received, ownership of the property passes to you and the keys can be released.

Following completion, your conveyancer will deal with the final formalities, including paying any Stamp Duty Land Tax due and registering your ownership with HM Land Registry.

Final thoughts

While the conveyancing process can take several weeks, each stage is designed to ensure that you are fully informed about the property you are buying and that your interests are protected.

If you are planning to purchase a property, obtaining legal advice at an early stage can help the transaction progress as smoothly as possible and give you confidence throughout the process.

The Residential Conveyancing team at Pardoes can support you from the outset, working proactively alongside you, reducing uncertainty, maintaining momentum and supporting a smoother, more confident transaction from start to finish. 

To get in touch, please email enquiries@pardoes.co.uk or dial 0800 862 0442.