Conveyancing
Conveyancing is the legal work of transferring ownership of a home, from the draft contract to registering the new owner with HM Land Registry.
Conveyancing is the legal work involved in transferring ownership of a property from one person to another. It runs from the accepted offer to the moment the new owner is registered with HM Land Registry.
It is carried out by a solicitor or a licensed conveyancer. The buyer and the seller each have their own.
The main steps
The seller's conveyancer draws up a draft contract and gathers information about the property, including the title, the boundaries and the fixtures and fittings to be included. The buyer's conveyancer checks the title, raises questions about anything unclear and orders searches, such as local authority, water and drainage, and environmental searches.
Meanwhile the buyer arranges their mortgage and any home survey. The lender carries out its own mortgage valuation. For a leasehold home there are extra questions about the lease, the service charge and the ground rent.
Exchange and completion
When everything is ready, the two sides sign the contract and exchange it. The sale is then legally binding and the buyer pays a deposit. On the completion date the buyer's conveyancer sends the rest of the money, the seller's mortgage is paid off and the keys are handed over.
After completion
In England, the buyer's conveyancer files the Stamp Duty Land Tax return and pays any tax due within 14 days of completion. In Wales, Land Transaction Tax is paid instead, to the Welsh Revenue Authority, within 30 days.
The conveyancer then applies to HM Land Registry to register the buyer as the new owner. Once that application is lodged, the sale can go into Price Paid Data. This is why sold prices usually appear two to eight weeks after completion. Our guide on why sold prices take months to appear explains the timing.
How long it takes
Conveyancing often takes several months. It can be quicker for a cash purchase with no property chain, and slower for leasehold homes, long chains or where searches are delayed.
| Carried out by | A solicitor or licensed conveyancer |
| Binding point | Exchange of contracts |
| Tax return | SDLT within 14 days in England; LTT within 30 days in Wales |
| Final step | Registering the new owner with HM Land Registry |
Related terms
Exchange of contracts · Completion · Property chain · Stamp Duty Land Tax · Land Transaction Tax · Home survey