The main purpose of the Conveyancing process is to transfer the legal title or ownership of , from one owner to another.

This is usually carried out for resale cases where a Seller and a Buyer entering into a Contract for Sale, which sets out all the terms of the agreement in writing.

Once the Buyer and Seller have both agreed to all the terms of the Contract then the Contract is “exchanged”. This means that Contracts are physically swapped and the buyer’s conveyancer now holds the Contract signed by the seller and vice versa, and at this time the Contract becomes legally enforceable. A 10% Deposit is usually paid on exchange of Contracts.

It is usually about 5 weeks (35 days) between exchange and settlement, however this time frame can be shortened or lengthened by agreement. During this time many actions need to be carried out such as searches are ordered to ensure that there are no outstanding mortgages or service charges with the property, transfer charges must be paid to the Land dept., a buyers loan must be processed and a sellers loan must be discharged.

Just prior to settlement the buyer should carry out a final inspection on the property to ensure that there is no damage and they are happy and ready to settle. On the day of settlement the buyer will pay the balance of the purchase price for the property to the seller, and the keys and title deed are made available to the buyer.

The staff members at Conveyancing Services will attend to settlement on your behalf, and we will ensure that all documents have been prepared and executed correctly, that all the money is correct and that everything is in order. We will then telephone or email you to advise that settlement has gone through.

Once above requirements are completed than buyer and seller will meet at land dept. office to complete the transfer of ownership process and then a new title deed will be issued in the of new owner.