2. Overview of a conveyancing transaction.

A freehold conveyancing transaction typically comprises five distinct stages:

  1. Ìý

    (1)ÌýÌýÌýÌý pre-contract;

  2. Ìý

    (2)ÌýÌýÌýÌý contract;

  3. Ìý

    (3)ÌýÌýÌýÌý pre-completion (or post-contract);

  4. Ìý

    (4)ÌýÌýÌýÌý completion; and

  5. Ìý

    (5)ÌýÌýÌýÌý post-completion.

At the pre-contract stage no binding commitment exists between buyer and seller and either can withdraw from the negotiations without penalty or recourse to a remedy for wasted expenses1. After taking instructions from his client the main duties of the seller's solicitor at this stage are to prepare the draft contract2