Conveyancing begins when an offer is accepted and ends when the completed sale is registered at Land Registry. It is structured around two key milestones: exchange of contracts, at which point both parties become legally committed, and completion, when funds are transferred and keys are handed over. The gap between these two stages can range from days to several weeks depending on the transaction.
The buyer's conveyancer carries out title searches, local authority searches and drainage enquiries, reviews mortgage conditions, negotiates with the seller's solicitor and handles Land Registry registration. In a practical example, a buyer purchasing a leasehold flat in London would expect their conveyancer to scrutinise the lease length, ground rent provisions, service charge accounts and any outstanding building safety matters such as EWS1 status.
Conveyancing costs typically comprise a legal fee and disbursements, which are third-party costs such as search fees and Land Registry charges. Total costs vary depending on property value, tenure type and complexity of the transaction. Buyers should request itemised quotes from more than one firm and confirm whether the fee is fixed or subject to change.
As an overseas buyer, choosing a conveyancer experienced in handling international source-of-funds documentation can significantly reduce delays, particularly where funds are remitted from multiple jurisdictions or involve a non-resident mortgage.