Conveyancing is the legal side of selling or buying a property. It’s all about transferring ownership from the seller to the buyer, and involves taking care of the legal tasks that are part of buying or selling a property.
The tasks they need to complete vary depending on whether they're representing the seller or the buyer. There is usally more work required by the buyer, so the buyer will pay a higher fee than the seller. For the purpose of this guide, we only include the tasks relevant to sellers. This includes:
- Writing the sale contract: from drafting and assessing to exchanging and then signing, you’ll come across contracts in varying states as you move through the selling steps. Various modifications are likely to be made to the contract, including which fixtures and fittings will be included in the sale price and how much you want for them. The buyer would often also have had a survey conducted on your property. If the survey flags up anything major – for example, the need for significant roof repairs – you may have to negotiate over who will fix this or even renegotiate over the sale price.
- Managing the collection and transfer of funds: there’s a lot of moving parts when it comes to selling your home. Mortgages, loans and outstanding bills are all part of the process. The conveyancer is responsible for looking after money matters from start to finish.
How long does the conveyancing process take?
On average the conveyancing process can take 2-3 months to complete. However this can change depending on factors such as where your property is located and whether your buyer needs a mortgage.