Conveyancing is the legal process by which ownership of a property is transferred from the seller to the buyer.

There are two stages to your conveyancing, firstly when an offer is accepted up to the exchange of contracts. Before contracts are exchanged either the seller or the buyer can change their minds in regard to price, terms or if they even want to buy or sell at all.

After the exchange of contracts, up to the moving day, which is known as ‘completion’ both parties are legally committed to the purchase, both the price and moving date are fixed. If either of them breaches those agreements they can face heavy financial penalties.

The most common complaint about the conveyancing process is that it takes so long. Usually this is due to the chain of transactions taking place. Each person selling a home also has to be going through the same legal processes with their buyer and the house moving chain is only as fast as the slowest people in that chain. So if anyone doesn’t have their survey in place, or finances arranged, everyone has to wait. That’s why cash buyers, first time buyers, those moving into retirement homes or probate sales are favoured buyers or sellers, as they don’t have another link in the chain to complicate matters further.

There are several good solicitors in this area that we would recommend you speak to for your conveyancing. For a list of them with their contact details, simply speak to any of the Ashington Page team on 01494 680018.