The Law Society is the professional body for solicitors in England and Wales and they are bound by their code of practice. You can find a solicitor in your area that specialises in conveyancing on the Law Society website. You can also read its guidance about how to use a solicitor and what to do when things go wrong.
E-Conveyancing
Many people are dissatisfied with the present house buying system which can be plagued with delay and anxiety. The government wants to introduce 'e-conveyancing', an electronic system for the buying, selling and registration of land and property in England and Wales to improve the process.
E-conveyancing will give open access to conveyancing information online. It will also provide a way for all payments relating to the transactions in a chain to be paid simultaneously, with automatic registration on completion. It is designed to help reduce the delay and anxiety often experienced in the house buying process.
A large number of projects are underway to help develop systems for e-conveyancing. During 2004 some applications will be electronically delivered and it is anticipated that the full set of e-conveyancing services will be piloted in 2005.
Exchanging Contracts and the Deposit
At this point, all the solicitors in the chain will exchange the contracts they have drawn up for each property and then a date is fixed for the completion of the sale. This is the date that the property is legally yours and you can move in.
Normally, 10 per cent of your property purchase price will be needed in advance and paid at the exchange of contracts. You are also bound to go through with the purchase or lose the deposit.
Removals
Once you have the completion date you can arrange the day of the move. Use our 'Moving in to your new home' article to help get organised.
A removal company may often be the best way to move all your belongings, but do check your contract with them. If you can't get anyone to recommend a firm to you, contact the British Association of Removers.
Completion
The completion of the sale usually happens soon after the exchange of contracts. In some cases delays may arise, particularly in chains involving numbers of sales.
If you live in England and Wales, on completion, the transfer document and any mortgage will be sent to the Land Registry for registration. When this is done, the Land Registry will guarantee the title that has been created.
At completion you are the legal owner of your new home and once you have the keys you will be able to move in. Be aware that the transfer of fees can take a little time so you may not get the keys as early on the day as you had hoped. |
