Conveyancing is the term used to describe the legal work involved with buying and selling a property. Conveyancing is normally carried out by either a solicitor or a qualified licensed conveyancer. The process of conveyancing is to transfer the ownership of land from the seller to you. There are several stages involved in the conveyancing work, your solicitor or licensed conveyancer will request contract papers from the vendor’s solicitor, undertake various searches such as a local authority search & check the title to the property you are buying to see who legally owns it.
Conveyancing Advice you can depend on
How to choose a good conveyancer
Conveyancing is an important part of the home buying process, and it’s important to note it’s required when both buying and selling a property.
So what should you consider when choosing a property solicitor to carry out your conveyancing? It’s important to use a qualified property solicitor who’ll be able to take care of a range of issues on your behalf, including:
- Dealing with the land registry
- Carrying out searches
- Managing Stamp Duty
- Collecting and transferring funds
Cheapest isn’t necessarily best
Solicitors charge for their time in different ways. Whilst some may offer a fixed fee, others will charge a percentage of the value of the property, so shopping around is a key factor to consider. Additional costs such as postage and VAT may be treated as disbursements, and therefore they’ll be added to any original quote, so you should clarify how this is handled when you first enquire. If a solicitor has been recommended by a family member or friend who’s used them before, this can be a good indicator of a good service.
Online or DIY conveyancing?
There’s been a rise in recent years of online-only conveyancers who offer you the chance to track the progress of your case online at a time that suits you. You can also choose to do conveyancing yourself, and this can help keep costs down. However, you should proceed with caution because if any searches and other formal legal procedures are not done properly, or not completed at all, this can cause major problems. If you use a professional conveyancer, you may be covered by their insurance for some of the things that could go wrong.
You should make sure that the solicitor or firm you choose takes the time to explain everything to you, and that they’re available to answer any questions you might have about the process
Different types of surveys available
- Basic mortgage valuation – The sole aim of the basic mortgage valuation is to satisfy the lender that your chosen property is worth the price you’re paying before they approve your mortgage. It doesn’t go into any detail on the state of the property.
- Homebuyers report – This is a detailed report for ‘standard’ properties which are in reasonably good condition. It provides a more in-depth inspection that will help you find out if there are any structural problems
- Full structural survey – Now known as a Building Survey, this is a comprehensive report providing a full breakdown of the fabric and condition of the property, with diagnosis of defects and repairs and maintenance advice.