The conveyancing stages when selling a house
The process of selling your house is different to when you’re buying. Read the steps below to understand the process of selling a house.
Step 1 – Instruct your conveyancer
When it comes to selling your house, you’ll most likely need a conveyancer to act on your behalf to complete the legal work, once an offer has been made. Choosing and instructing a conveyancer as early on in the selling process as possible means that you can start the process as soon as you have found a buyer.
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Step 2 – ID checks and property information
ID Check: For your ID check, your conveyancer will need to see your primary ID, such as a passport or driving licence as well as proof of residence in the form of a bank statement or utility bill.
Property details
Calculate outstanding monies: If you have a mortgage (or other loan) secured on the house you are selling, your conveyancer will request a redemption figure from your lender to find out how much is outstanding, this figure will then be paid out of your sale proceeds on completion.
Leasehold information: If the property you are selling is a leasehold, they will contact your landlord / management company to find out more details about how the lease works and whether there are any works due to be done or payments outstanding etc.
Step 3 – Obtain the title deeds
Your conveyancer will then need to obtain a copy of the title and send a draft contract to the buyer's conveyancer.
If you bought or remortgaged the house you are selling, in the last 25 years, it's likely that the property is registered at the Land Registry, showing you as owner, they should also have a plan of the property and any additional documents they hold for the property.
If no transactions have taken place in the last 25 years, then the property could be unregistered and you should have the title deeds to the property. You may hold these or your lender may have them if you still have a mortgage, either way your conveyancer will need these to sell the property.
Step 4 – Complete property forms and questionnaires
Before you exchange contracts, you’ll need to complete and return detailed questionnaires for your buyers, about the property, and what you intend to include with the sale. This can include a Property Information form which has specific details about the property, its boundaries, any alterations to the property etc. and a Fixtures, Fittings and Contents form to say what you will be taking and leaving behind.
These will then all be sent to the buyer's conveyancers, along with any additional documents you have provided, such as indemnity insurance policies.
Your buyers may then instruct searches and arrange for a survey to be carried out on the property.
What is indemnity insurance when selling a house?
When selling a property, you may be required to provide indemnity insurance for your buyers if certain information or documents are missing. This often arises where there are gaps in the property’s paperwork or legal history, such as missing building regulation certificates, restrictive covenant issues, or unclear planning permissions.
In most cases, indemnity insurance is suggested by your conveyancer in response to buyer enquiries. It is commonly used as a practical way to satisfy buyer or lender concerns without delaying the sale or needing to obtain retrospective approvals or additional documentation.
Arranging an indemnity policy can help keep the transaction moving and reduce the risk of the sale falling through, particularly where issues are historic and unlikely to cause problems but still need to be addressed. Your conveyancer will advise whether a policy is appropriate for your sale and, if so, arrange it as part of the conveyancing process.
Find out more in our guide to indemnity insurance when buying or selling a house.
Step 5 – Exchange of contracts
When all the buyers enquiries are answered, you will need to agree a completion date with your buyer and exchange contracts. Before you exchange contracts, you will need to carefully read the contract, sign it, and return it to your conveyancer. You will also have to sign the transfer document, which is a legal document that both seller and buyer need to sign to transfer the ownership of the property. This must be signed in the presence of an independent witness over the age of 18 years and the original should be sent back to your conveyancer. Once the contracts have been exchanged, you are legally obliged to complete on the date agreed in the contract.
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Step 6 – Completion
On the day of completion, the buyer’s conveyancers will transfer the money to purchase your property to your conveyancer by same-day bank transfer (telegraphic transfer. As soon as this has been received, your conveyancer will then use this to pay off any outstanding balances such as, the existing mortgage on the property, the estate agents' fees or leasehold charges and then transfer legal ownership.
Step 7 – Post-completion
Once you have completed on your house sale, your conveyancer will then send the signed transfer to the buyer’s solicitors so that they can register the transfer of ownership with the Land Registry.
You must remember to keep paying the mortgage and home insurance until after completion.
You may also want to set up a temporary postal redirection service, so your mail gets delivered to your new address.
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Your conveyancer will then account for their fees, estate agent or mortgage costs and pay any balance to you by bank transfer. If you’re wondering what the fees associated with a sale are, you can read all about the cost of selling a house.
If you’re still not sure where to start, our top ten tips to prepare your home for the market may help you when selling your house.
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