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Reading Conveyancing FAQs

What is conveyancing ?

Conveyancing is an old fashioned term that includes all the processes and procedures involved in property transactions.

What is involved in conveyancing ?

This is a very basic overview of what is involved in a typical property transaction:

1.      Pre-contractual stage – searches are undertaken, pre-contractual enquiries are made and contracts are drafted.

2.      Contract exchange – contracts are exchanged, a completion date is agreed on and a deposit is paid (usually 10%).

3.      Completion – monies are exchanged and the purchaser is handed over the keys and possession of the property.

4.      Post completion – the purchaser is registered with the Land Registry

What are Searches ?

Local Authority Searches – planning permissions, planned developments in the area.

Drainage and Sewage Searches – information about drainage and sewage systems attached to the property.

Mining Searches – checks for subsidence risks.

Environmental Searches – checks for environment risks.

What searches should I have carried out ?

As a bear minimum, it is recommended that you carry out Local Authority and Drainage and Sewage Searches.

How long will it take to complete a conveyancing transaction ?

How long is a piece of string?  Joking aside, it entirely depends on the complexity of the transaction, the length of the chain, the speed and efficiency of the other party’s solicitors and whether the purchaser will need a mortgage advance to buy the property.  As a rough estimate, it could take 8-10 to complete the transaction.

Will I have to pay a 10% deposit ?

It depends.  In our experience, 10% is usually requested.

What if I do not have the money to pay a 10% deposit ?

We can try and negotiate with the seller’s solicitors on your behalf.  It helps if you have a legitimate reason as to why the full 10% cannot be paid.  If you are selling your house and buying another property simultaneously

Can I move in on a Saturday ?

On completion day, monies have to be transferred and banks are not open for this purpose.  You will only be able to move in during weekdays.