A Guide to Conveyancing and
Choosing a Survey

These Guides are given in good faith and without any future liability. It is recommended that aprofessional advice is sort before any financial transaction is
undertaken and any information gained from this publication is checked as its nature is only in general terms. Any information is at best an overview and is not intended to be relied on.

A GUIDE TO CONVEYANCING

1. What is conveyancing?
The legal work involved in transferring the ownership of property or land from one
person to another. It’s carried out by a solicitor or a specialist licensed conveyancer.

2. When do I need to hire a solicitor?
In the UK, solicitors are often hired after the buyer’s offer has been accepted.

3. How much will they charge?
That depends on the location, prestige and size of the firm. Some charge a flat rate
for conveyancing, others ask for a percentage of the property price. As a guide,
expect to pay between ?750-1000 on a ?150,000 property.

4. What do I have to tell my solicitor?
They’ll need to know the address of the property you’re buying, the seller’s estate
agent and who your mortgage lender is.

5. What will they actually do?
A solicitor or conveyancer will establish exactly what you’re buying; that the seller is
the rightful owner; and that no known plans for roads or other developments will
affect the property’s future value. Solicitors also carry out various searches and pay
any fees to relevant authorities on your behalf.

6. When will I hear from them?
They’ll send you the fixtures and fittings form (where the seller lists the items they’re
leaving), check your survey and follow up on any concerns you have about the property.
Once they’re happy with the contract, they’ll ask you to sign a copy. Then they’ll check
out some final searches and check that nothing is holding up the funds from your
mortgage lender.

7. What else do they do?
On completion, the solicitor transfers the money in exchange for the title deeds to the
property. They pay the stamp duty (if the property costs more than ?60,000) on your behalf
and register the transfer with the Land Registry. And then they send you their bill.

8. Finding the right solicitor
At Accord we have a good idea of solicitors or Conveyaning Companies that will be
able to help you based on our experience of dealing with a number off Solicitors &
Conveyancing companies on a regular basis.

Professional bodies – the websites of the Law Society (www.solicitors-online.com),
The National Solicitors Network (www.tnsn.com) and the Council for Licensed
Conveyancers (www.theclc.gov.uk) all have search pages.

CHOOSING A SURVEY

Getting a thorough survey carried out the property you’re intending to buy is crucial
– it’s one area you really mustn’t scrimp. There are three main types of survey:

1. Valuation
Your mortgage lender will insist on a valuation as a means of safeguarding the loan.
This brief, superficial inspection of the property is unlikely to reveal major flaws and
will cost you about ?300 for a ?150,000 property.

2. Homebuyers’ survey
This is a standard document drawn up by the Royal Institution of Chartered
Surveyors and the Incorporated Society of Valuers and Auctioneers. It gives an
accurate appraisal of the condition of all that is visible and
will make an ‘informed judgment of whether to proceed
with the purchase and assess whether or not the
property is a reasonable purchase at the agreed price’.

3. Building survey
Suitable for all residential properties, this is the most
comprehensive survey available. At around ?1000 it
isn’t cheap, but foundations, walls, floors, drains and
even garden fences are inspected.

Useful contacts:
The Royal Institution of Chartered Surveyors
www.rics.org.uk

Information and online quotes www.surveyline.com