FAQs - Conveyancing
How long does a typical house sale/purchase take?
Purchasing or selling a house with no major problems should take approximately 8 - 12 weeks. The purchase/sale of an apartment should take approximately 12 - 16 weeks.
One of the main factors will be how many people there are in the chain, the longer the chain, the greater the possibility there is for delay.
Other factors which may be apparent include:
If there are issues with mortgage approval, such as the need for additional documentation, credit checks, or property valuations. It's advisable to start the mortgage application process early.
The conveyancing process involves legal work to transfer ownership of the property. Delays can occur if there are legal complexities, disputes over property boundaries, or issues with the title. Choosing an efficient and proactive conveyancer is crucial to maintaining a reasonable timeline.
What is Conveyancing?
Essentially, Conveyancing is the term used for the transferring of ownership of property from one person to another. A number of matters will need to be examined to ensure that the property being purchased is good and marketable with no legal defects. This will involve investigating the legal title to check, amongst other things, that adequate rights are in place for gaining access to the property; checking what restrictions a property is subject to and carrying out all necessary searches to ensure that no adverse planning or environmental matters affect the property. Our conveyancing solicitors are on hand to ensure you receive the correct advice in a timely manner.
What type of Survey should I carry out?
RICS now uses Home Survey Levels 1, 2 and 3. These are separate from a lender’s valuation.
A lender’s valuation is usually required by your mortgage lender and is primarily for the lender’s benefit. It will not usually provide the level of detail you may need if there are issues with the property.
A RICS Home Survey Level 1 is the most basic survey. A RICS Home Survey Level 2, previously known as a HomeBuyer Report, is suitable for many conventional properties and highlights causes for concern with recommendations for further action. A RICS Home Survey Level 3, previously known as a Building Survey, is more detailed and may be recommended for older, larger, extended or unusual properties.
Further guidance can be found on the Royal Institution of Chartered Surveyors website - www.rics.org