What is a Conveyancing Solicitor
A Conveyancing Solicitor manages the process of legally transferring title and ownership of a property from one person to another.
What is a Licensed Conveyancer?
A Licensed Conveyancer is a specialist property lawyer qualified in all aspects of property law in England and Wales.
The Council for Licensed Conveyancers, or CLC, is the regulatory body for licensed conveyancers in England and Wales.
The seller and the buyer agree a date and time to exchange contracts.
The Licensed Conveyancer or Solicitor acting for the buyer sends a contract to purchase to the sellers lawyer and the seller sends a contract of sale to the buyers lawyer.
The contracts are only signed when all parties are happy to proceed.
Once contracts have been signed and exchanged then they become legally binding.
The buyer must complete on the purchase. If the buyer does not complete then the Seller can sue the buyer and keep any deposit paid.
Once you have exchanged contracts the seller cannot accept another offer for the property.