A conveyancer in the UK is a legal professional who specializes in the legal aspects of buying and selling property. They play a crucial role in ensuring that property transactions are completed legally and smoothly. Here’s an overview of what a conveyancer does:

1. Initial Steps and Client Instruction

• Client Consultation: They begin by consulting with clients to understand their needs, whether they are buying or selling a property.
• Client Identification and Compliance: Conduct identity checks and ensure compliance with anti-money laundering regulations.

2. Pre-Contract Stage

• Drafting and Reviewing Contracts: For sellers, the conveyancer will draft the contract of sale. For buyers, they review the contract provided by the seller’s conveyancer.
• Property Searches: Conduct necessary property searches (e.g., local authority searches, environmental searches, drainage and water searches) to uncover any issues that might affect the property.
• Enquiries: Raise enquiries with the seller’s conveyancer regarding the property to clarify any concerns or issues identified in the searches or contract.
• Mortgage Assistance: If the buyer is taking out a mortgage, the conveyancer will liaise with the mortgage lender to ensure all legal requirements are met.

3. Exchange of Contracts

• Contract Exchange: Once all parties are satisfied with the contract and enquiries, the conveyancers will facilitate the exchange of contracts. This is the point where the transaction becomes legally binding.
• Deposit Transfer: Arrange for the buyer’s deposit to be transferred to the seller’s conveyancer.

4. Completion Stage

• Final Checks: Perform final checks to ensure there are no changes since the exchange of contracts.
• Transfer of Funds: Coordinate the transfer of the remaining purchase funds from the buyer (or their mortgage lender) to the seller.
• Completion: On the completion date, the conveyancer ensures that the purchase money is received, and the keys to the property are handed over to the buyer.

5. Post-Completion

• Stamp Duty Land Tax (SDLT): Calculate and pay any stamp duty on behalf of the buyer.
• Registration: Register the transfer of ownership with the Land Registry, ensuring the new owner is officially recorded.
• Final Documents: Send copies of the title deeds and other relevant documents to the buyer and their mortgage lender.

Summary:

Conveyancers handle the legal and administrative aspects of property transactions to ensure that the transfer of ownership is conducted correctly and efficiently. They protect the interests of their clients by conducting necessary checks, raising enquiries, and ensuring compliance with legal requirements. Their role is essential for mitigating risks and resolving any issues that may arise during the property transaction process.