Conveyancing

The term is used mainly in the United Kingdom, Australia and some other common law countries. In other countries, similar work may be done by lawyers, notaries, escrow agents or title companies.

The conveyancing process typically includes checking the property’s legal title, carrying out searches with local authorities and other bodies to identify issues such as planning restrictions or flood risk, reviewing and negotiating the contract, handling the deposit and mortgage funds, completing the transfer and registering the new owner with the land registry.

For example, in England and Wales, when a buyer’s offer is accepted, both buyer and seller instruct conveyancers, who work through the legal steps until contracts are exchanged, which makes the deal legally binding, and then completion, when the money is paid and the buyer receives the keys.

Conveyancing can take several weeks or months, and delays in chains of linked purchases are common. Conveyancing fees are part of the costs of buying or selling a property, along with taxes such as stamp duty and survey fees.