Conveyancing

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Conveyancing is the term describing the legal transfer of ownership of freehold or leasehold properties. It's a complicated process which can be (and has been) completed in an afternoon but can also take several months. A period of up to 12 weeks between making an offer for a property and moving in is not uncommon.

Leases are more complicated than the sale and purchase of a freehold property. As a buyer, you should be sure whether the property you are purchasing is leasehold or freehold. If a lease is involved, you should pay attention to the conditions, restrictions and financial responsibilities imposed by it.

The process of conveyancing involves:

1. Investigation

2. Assessment of Draft Contracts

3. Exchange of Contracts

4. Completion

5. After Completion

Last Updated: May 2007 © Moneyextra.com

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