Residential conveyancing is the legal process of buying or selling a residential property. Most people who aren’t familiar with the process use a solicitor to act for them when they buy or sell residential property. In addition, mortgage lenders typically require that the conveyancing process is carried out by a solicitor when they provide a mortgage for a property purchase.
When a residential property changes hands, the residential conveyancing process includes three stages:
Agreement to sell;
Exchange of contracts;
Completion of sale.
The process starts when a buyer and a seller make an agreement to sell, and ends when the buyer of the property receives the keys. However, while every sale includes these three stages, the actual process you go through is different depending on whether you’re buying or selling a residential property.