You cannot buy a home without going through the conveyancing process. Conveyancing is a legal process, and it involves the transfer of property ownership titles from one person to another. As such, it’s quite complex.
Thankfully, our step by step guide is here to help. It will answer questions such as: What is conveyancing? Do I need a conveyancing expert to carry out my conveyancing? and how much does conveyancing cost? Read on to learn more in our step-by-step guide to the conveyancing process.
Conveyancing is a broad reaching term. It refers to all the legal and administrative work that’s associated with transferring the ownership of a home from one person to another.
The conveyancing process can be long and relatively arduous depending on the terms of the sale. As soon as you’ve had an offer accepted for a home, the conveyancing process begins. It only ends when the final contracts have been signed and the money has been transferred. This is the completion of the purchase.
There are many different aspects to conveyancing, meaning that a conveyancer can carry out a wide range of tasks.
The first thing a conveyancer will do is conduct searches with local organisations. They will also ensure that the seller has the right to sell the home to you. These searches will also include contacting utility companies and will ascertain if your property is at risk, such as if it is at risk of flooding or has liabilities hanging over it from past inhabitants.
They’re also responsible for informing you about any other costs you may incur. This includes fees such as stamp duty. They’re also responsible for checking contracts drawn up by the solicitors of the other party. This is an incredibly important job as it includes key information such as the sale price and the boundaries of the property. Finally, they will also liaise with your mortgage provider on your behalf, ensuring they have all the information they need to keep the sale moving.
Once you’re ready to complete the sale, the conveyancer will complete their final job: paying all the related money and fees on your behalf and registering you as the new owner of the property with the Land Registry.
It is possible to do your own conveyancing. However, it’s a complicated legal process that can be both time-consuming and complicated. For example, if you fail to spot a boundary dispute, you could be in serious trouble. As such, a conveyancing expert is a preferable option.
Most mortgage lenders insist on employing a solicitor or conveyancer to protect their interests. As a result, the vast majority of property buyers and sellers are far better off using a conveyancing expert rather than opting for DIY conveyancing.
As online estate agents, here at House Network, we offer our own branded conveyancing service through MI-CTRL conveyancing. With an internet, email, telephone and post based service, you can get clear and professional advice in plain English. There’s also no surprises and we provide you with the cost upfront. Plus, if your move doesn’t go ahead, you won’t have to pay any legal fees.
You can hire a solicitor, an independent property lawyer or even a licenced conveyancer. However, you’ll have to be aware of both the cost involved and the relevant experience of the person.
All solicitors are qualified to undertake conveyancing work. However, this doesn’t mean that they’re experienced in it. However, if you do choose an expert that specialises in residential property transactions, then you may pay quite a sizeable sum. Get a quote from us to see what we can do for you.
If you’re looking for conveyancing, then look no further than online estate agents such as us here at House Network. For one flat fee, we can provide you with all expertise you need at a price that suits you – that makes sense.
image courtesy of iStock.
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