Buying a home

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Transferring ownership (conveyancing)

Once the offer is accepted, the seller is responsible for drawing up a legal contract to transfer ownership. 

The contract contains details about:

  • the sale price
  • the property boundaries
  • which fixtures and fittings (like carpets and kitchen units) are included
  • any legal restrictions or rights, like public footpaths or rules about using the property
  • any planning restrictions
  • services to the property, like drainage and gas
  • when the sale will complete

If the seller has hired a solicitor or conveyancer, they will:

  • draft the initial contract
  • answer questions from your solicitor or conveyancer (with the seller’s help)
  • negotiate the details of the contract if necessary

Exchanging contracts

When you (the buyer) and seller are happy with the contract, both sides sign final copies and send them to each other.

The agreement to sell and buy is legally binding once this happens. Usually neither of you can pull out without paying compensation.

Completion

Once you exchange contracts and the seller deals with any remaining checks you’ve asked for:

  1. Your solicitor or conveyancer will transfer your money to the seller. 

  2. You’ll be sent the legal documents needed to transfer ownership.

  3. The seller moves out and leaves the property in the state agreed in the contract.

  4. You get the keys to the property from the seller or estate agent.

  5. You now own the property.

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