What happens when I instruct you as my conveyancer?
We will open your file and send to you the initial paper work and request identification from you to comply with money laundering regulations. Once received, we will liaise with the other party's conveyancer in relation the contract documentation. This is when the legal process begins and we will keep you informed at every stage along the way.
What is the difference between exchange of contracts and completion?
Exchange of contracts means your sale and/or purchase becomes legally binding. This is when the completion date is fixed and a deposit is paid. If one of the parties does not proceed to complete on the agreed date, the other party can sue for breach of contract which has serious financial implications.
Completion is when the purchase monies are paid to the seller and the keys are released to the buyer.
What happens on the day of completion?
Completion monies are paid to the seller's conveyancer. If you are in a chain, the monies will pass throughout until the last party in the chain receives the funds. Depending on the length of the chain, this could take some time. Please be assured that we will keep you updated every step of the way.