Pre-Contract Stage:

• Instruction: The process begins with the buyer instructing a solicitor or conveyancer to handle the property transfer.
• Title Check: The solicitor conducts a title search to verify the seller’s legal right to sell the property.

Drafting Contracts:

• The seller’s solicitor prepares a draft contract containing details of the property, conditions of sale, and relevant legal information.

Enquiries and Searches:

• The buyer’s solicitor raises queries about the property (pre-contract enquiries) and conducts searches to uncover any issues that might affect the property.

Agreement to Terms:

• Both parties negotiate and agree on the terms of the sale, including the price, conditions, and a potential date for completion.

Exchange of Contracts:

• Once terms are agreed upon, both parties sign and exchange contracts. At this point, the transaction becomes legally binding.

Deposit Payment:

• The buyer pays a deposit, usually a percentage of the property price, to the seller’s solicitor.

Pre-Completion Stage:

• Mortgage Arrangements: The buyer secures a mortgage if needed, and the lender provides the funds to the buyer’s solicitor.
• Property Transfer: The seller completes a property information form, and the buyer conducts a final inspection.

Completion:

• On the agreed-upon completion date, the balance of the purchase price is paid, and legal ownership of the property is transferred to the buyer.

Post-Completion:

• Registration: The buyer’s solicitor registers the property transfer with the relevant land registry, updating ownership records.
• Stamp Duty: The buyer pays any applicable stamp duty on the property transaction