How Long Does Conveyancing Take?
Conveyancing is the process that transfers legal ownership of a property from one person to another. So how long does it really take?
14 July 2021
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The residential conveyancing process can usually take anywhere between 8 and 12 weeks from the point at which an offer is accepted. The time that it takes to complete your conveyancing transaction will depend on many factors including whether you're part of a chain, if you are buying, selling, or both, and the conveyancing solicitor you use. Our conveyancing experts act on behalf of both buyers and sellers. We also carry out conveyancing for the transfer of equity and Commercial Properties Leases.
Your conveyancing expert should be instructed as soon as the sale/purchase of a property has been agreed. The process lasts until completion, when the keys for the property are exchanged. We are your trusted conveyancing services provider and can help you every step of the way.
Stages Of The Conveyancing Process
Here is a summary of the main steps in the residential conveyancing process. Time scales are approximate:
1.Pre-Contract Work – Around 2 Weeks
The conveyancing process begins once an offer on a property is accepted. You need to appoint a conveyancing expert as soon as possible so we can start working on your transaction, whether you are the buyer or seller.
We will obtain and review the legal documents to provide you with the appropriate advice on your purchase or sale.
Buyers will usually need to arrange a survey of the property. You can usually get your survey report within a day or two but it can take as long as 1 month depending on how busy your local surveyors are.
2.Mortgage Offer – Around 4 Weeks
Before you made an offer on the property you will have acquired a Mortgage Agreement in Principle. After your offer has been accepted, your mortgage lender will begin turning that into a definitive mortgage offer. This takes about a month from application to offer.
Draft Contract – Around 2-10 Weeks
Your conveyancing solicitor should be working on your draft contract whilst step 2 is taking place. This involves collating all the necessary information from the land registry, the seller and the seller’s conveyancer.
Searches and surveys returned at this time can sometimes raise issues that need to be resolved. The draft contract phase of the conveyancing process can therefore take anywhere from a very straightforward 2 weeks to a more complicated 10 weeks, perhaps longer.
4.Exchange Of Contracts To Completion – Between 1-2 weeks
Once your official mortgage offer is in place, your pre-contract enquiries have been answered, and the survey and searches complete, you are ready to exchange contracts and set a completion date. There is usually one week between exchange and completion but it can be adapted to whatever date suits all parties.
On completion day you will exchange keys and own your new home. All the funds will be transferred via the solicitor and properties will usually need to be vacated by midday.
Conveyancing Expert are your local conveyancer in Manchester offering high standard yet low cost conveyancing for all clients looking to buy, sell, re-mortgage and transfer equity in England and Wales.
What Causes Delays In Conveyancing?
Many factors can delay conveyancing, the most common being either the buyer or seller, or their legal representatives, taking a long time responding to enquiries.
Other reasons are:
- Problems with the property title
- Surveys revealing problems
- Missing information from the seller
- Issues with mortgage applications
- Seller buying a new build property that isn’t ready
- Probate sales
- Local authority is slow to respond to search requests
How Long Does Conveyancing Take With No Chain?
Conveyancing with no property chain should take approximately 8-10 weeks from the point of the sale being agreed. Delays in the usual conveyancing process usually arise from other transactions in the onward property chain. If you’re lucky enough to be chain free, your conveyancing process should, in theory, be shorter.
Although you won’t experience the delays that come with being in a chain, conveyancing with no chain will still come with some hold ups. You’re still at risk of unfortunate survey results or delays in receiving search results.
What If I’m In A Chain?
If you are in a property chain, you are reliant on others keeping the same timescale as you. This does not always go to plan and can have a significant impact on how long conveyancing takes. A problem with one party can delay everyone involved.
How Long Does Conveyancing Take For Cash Buyers?
If you are buying a house without a mortgage, you should be able to complete the transaction quicker.
Also, you also don’t HAVE to have a survey but it may be wise to get one done anyway.
How To Avoid Conveyancing Delays
A lot of conveyancing delays are avoidable. Always keep in close contact with your conveyancing expert as we are behind you every step of the way.
We pride ourselves on a personal service which utilises the latest innovations in electronic communications. Conveyancing Expert is strongly committed to speeding up the conveyancing process through our investment in technology and an extensive, customer focused staff training programme.