The conveyancing process explained: buying and selling a home

Conveyancing is the legal process of transferring ownership of property. Whether you are buying, selling or both, your conveyancer, a solicitor or licensed conveyancer, handles the legal work, deals with the other side and your lender, and makes sure the money and ownership change hands safely.

Stage 1: Instructing a conveyancer

Instruct a conveyancer as soon as your offer is accepted, or before you market your home if you are selling. If you have a mortgage, check the firm is on your lender's panel. You will need to provide proof of identity and evidence of where your money is coming from, because firms must carry out anti-money laundering checks.

Stage 2: Draft contract and property information

The seller's conveyancer prepares a draft contract and sends the buyer's conveyancer the title documents and property information forms. These forms cover boundaries, disputes, works carried out and the fixtures and fittings included in the sale. For a leasehold property, the buyer will also need the lease and a management pack from the landlord or managing agent, covering service charges, ground rent and any planned major works.

Stage 3: Searches and survey

The buyer's conveyancer orders searches. These usually include:

• a local authority search (planning, building control, roads and local land charges);
• a water and drainage search;
• an environmental search (flood risk, contaminated land);
• others depending on location, such as mining searches.

Separately, you should consider an independent survey. A lender's valuation only protects the lender. RICS offers three levels of survey, from a basic condition report to a full building survey.

Stage 4: Enquiries and mortgage offer

Your conveyancer raises enquiries about anything unclear in the documents or searches, and reviews your mortgage offer. They then send you a report on the property and the contract terms. Read it carefully and ask questions. This is your chance to raise concerns before you are committed.

Stage 5: Exchange of contracts

When everyone in the chain is ready and a completion date is agreed, the conveyancers exchange signed contracts. At this point the deal becomes legally binding, and the buyer normally pays a deposit. If you pull out after exchange, you may lose your deposit and face further claims. Buyers should arrange buildings insurance from exchange.

Stage 6: Completion

On completion day, the buyer's conveyancer sends the purchase money to the seller's conveyancer. When it arrives, the seller must move out and hand over the keys. The seller's conveyancer pays off the seller's mortgage.

Stage 7: After completion

The buyer's conveyancer pays any Stamp Duty Land Tax (in England) or Land Transaction Tax (in Wales) and registers the buyer as the new owner at HM Land Registry. Tax rates and thresholds change, and there are reliefs for first-time buyers and surcharges for additional properties. Use the official HMRC or Welsh Revenue Authority calculators, or ask your conveyancer.

How much does conveyancing cost?

Most firms charge a fixed legal fee plus VAT and disbursements, such as search fees and Land Registry fees. Leasehold, new-build, shared ownership, Help to Buy redemption and buy-to-let purchases usually cost more. SRA-regulated firms must publish their residential conveyancing prices, which makes comparing easier. See our guide to solicitor fees.

Common causes of delay

• slow responses to enquiries, or missing documents such as building regulation certificates;
• leasehold management packs that take weeks to arrive;
• problems elsewhere in the chain;
• mortgage offers expiring or needing to be reissued.