What does a conveyancing solicitor actually do?

FireWyrm

Hi

This is a question for the legal beagles on here.

After much persuasion which I wont bore you with, I have sent an email to my solicitor instructing him to prepare the contact prior to exchange. Can anyone tell me how long this takes and what exactly is involved? What will be in the 'contract' exactly? I realise that this is a bit subjective, but are there some 'core' papers that have to be completed in these cases and if so, what are they and what do the solicitors do with them? What exactly happens during exchange (behind the scenes)?

Richard_Webster

Is this contract to sell a property or to buy one?

Do you know that you have go to the point where exchange of contracts is likely soon?

FireWyrm

Hi Richard

This is a contract to buy...I am the buyer. We were supposed to be exchanging on Friday but due to some procrastinating over last minute details by the vendor, this isnt possible. I instructed my people via email yesterday and I was hoping that we would be getting close and perhaps even have it all wrapped up by next Friday. What I'm curious about is, what exactly is involved in exchange, how long does it take to prepare the documents and what is in them? What papers should I be expecting? What does the conveyancer do with it all when I send it back and how fast can they turn it all around?

loubel

Your solicitor will be preparing their report to you on the property. This should take you through the paperwork that you need to sign and provide and explain the relevant parts of the title documents, property forms and replies to enquiries, the searches and any other information that has come to light about the property, plus explain the sale contract and your mortgage offer. It is a considerable document and is why you pay a solicitor to help you with a purchase so be sure to read it.

When you send the signed paperwork back with your deposit your solicitor will be able to start discussing exchange. Exchange is when the contract is finalised so that everyone in the chain is committed to a date to complete the purchase. Everyone in the chain therefore needs to have agreed a completion date before you can exchange. Usually there will be at least one week between exchange and completion.

FireWyrm

Thanks Loubel. I've read the quick guides on the internet, but it only mentions that 'documents' are exchanged and not what those documents are or should be. It's all quite mysterious apparently and only a conveyancer knows what they are. I just want to make sure that I know what documents should be arriving and if any are missing. I was curious as to what these 'documents' are exactly and what is then done with them. I realise that some house purchases are more complicated than others, but what is typically in there? Can anyone tell me?

loubel

Your solicitor will send you everything that you need to sign. This should include your contract, mortgage deed (if you are getting a mortgage) and SDLT return (or declaration that you are a 1st time buyer if that is the case).

The only document that is exchanged is the contract. Nothing mysterious happens. The solicitors will speak on the phone to confirm that they each hold an identical contract signed by their respective clients. They will agree to date the contract (at which point it becomes legally binding) and then send the contract to each other.

The other documents are needed for completion but you will usually be asked to send them back at the same time as the contract so that everything is ready.

FireWyrm

Ah ok. One final question...I've read that after exchange there are more 'searches'. As I understood it, the contract is legally binding, so what happens if something odd is found in those searches? Presumably you cant get out of the contract, so would you be stuck with a house that has a problem?

loubel

The pre-completion searches are nothing to worry about.

One is if you are getting a mortgage to check that you are not bankrupt.

The other is to prevent anyone from making changes to the title register for the next month to ensure that you buy what you agreed to buy.

Richard_Webster

The pre-completion searches are nothing to worry about.

Broadly agree.

The other is to prevent anyone from making changes to the title register for the next month to ensure that you buy what you agreed to buy.

It also tells your solicitor if any changes have been made between the date of the copies he has been supplied with and the date of the search. If something nasty has been added then the seller has to deal with it, otherwise you don't have to complete.

redpower

I am interested in this. I am buying a property and have raised queries with my conveyancer. They claim that it is the vendor's solicitors responsibility to answer these queries (which they are not doing) Surely my conveyancer does not just pass on queries on the other side but has a responsibility to deal with them?

nortonlane

loubel wrote: »

When you send the signed paperwork back with your deposit your solicitor will be able to start discussing exchange. Exchange is when the contract is finalised so that everyone in the chain is committed to a date to complete the purchase. Everyone in the chain therefore needs to have agreed a completion date before you can exchange. Usually there will be at least one week between exchange and completion.

FTB here! Do you not send your deposit at the same time of exchanging ?? or does the soliticor have this off you before you can exchange. If the deal is not legally binding untill you have exchanged is your deposit refunded back ?