Your solicitor has helped navigate the potential pitfalls, and so the legal process begins...
Employing a solicitor is essential. The seller's conveyancer will prepare the contract to transfer the property to you. They will check all the necessary details and deal with any negotiations on your behalf. Searches will check the property 'title' (to make sure the seller is the legal owner), any planned works nearby that may effect your property, and other areas such as boundaries and any possible legal or planning restrictions.
When both parties are happy, you will exchange contracts, and transfer your deposit. You will then agree on a completion date, and your solicitor will arrange transfer of monies for you.
Conveyancing usually takes 4 to 12 weeks, but sometime can take longer. Leasehold properties can involve more work because the lease needs to be thoroughly checked, which can also effect the conveyance cost.
SURVEY AND VALUATION REPORTS
More detailed than a basic valuation - it will reveal any problems wit the property that may cost you money to rectify either immediately or in the long term. The surveyor will recommend further investigation if they will help you decide whether the property is worth what you're offering. The homebuyer's report is particularly suitable for properties built in the last 50 years.
For older properties or those with obvious problems, it's worth arranging a building survey to check for structural defects in those made of timber or other unusual materials, or any property you are planning to renovate. The surveyor will do a detailed survey of the building, listing all major and minor faults - this will also give a list of recommended work and approximate costs.
The cost involved in buying and selling your property depend on many factors, such as the value of the property and the complexity of the transaction. For every potential cost listed, different providers will charge different fees, so it's always best to get a range of quotes.