Find A Conveyancer
Use our site to find a conveyancer for your property transaction in the fastest time possible. Our website will help you find the best property conveyancing firms for less.
What Is A Conveyancer
The transfer of property title or property legal ownership term is conveyancing. It is a process that demands extensive paperwork as well as around three-month period for its conclusion.
A contract detailing the property’s; boundaries, restrictions and price of any sort ought to be drawn up by the party selling of the property. In turn, the buyer is supposed to draw yet another contract to make his/her offer. It is a process that calls for supervision from experienced and professional solicitors.
The Conveyance Three Stages
As much as different jurisdictions have their various regulations and different rules concerning the transference. A normal conveyancing process involves the below-mentioned stages:
The Pre-Contract Stage
It is the first and the very longest stage that demands a great deal of paperwork. Your appointed Solicitor represents you when you are either the buyer or the selling party.
The lawyer representing the seller draws up the draft contract. That will be inclusive of details concerning both sides. The solicitor will include the price details, seller’s title deed details.
The property conveyancer is representing the buyer, on the other hand, is required to go through the paperwork with a fine tooth comb twice or thrice. They will raise any inquiries with the solicitor representing the buyer. It is in order to resolve any problems found in the draft contract.
Solicitor representing the buyer is also required to gather as much info as he/she can in regard to the property on sale. They will do this by carrying out relevant pre-contract searches. The buyer’s solicitor will also be required to make necessary arrangements to conduct the transaction in a financial platform next. The same lawyer may require the buyer to go ahead and sign for a mortgage deed.
The next step involves the exchange of contracts between the buying party and the selling party. This action points towards a contract that is binding. The buying party at this stage usually needs to pay a deposit.
The Post-Contract Stage
It is the second stage that is a little less hectic. The side representing the buyer at this point is required to make a draft purchase deed. They will then proceed to send it to the side representing the seller.
The instance the deed terms are approved by the receiving party (The buyer) a copy is made by the solicitor representing the seller. Both sides sign in front of their respective.
The conveyance lawyer representing the buyer will be required to set up a mortgage loan. It is for purposes of paying for the property. On the other hand, the solicitor representing the seller will be required to fix the seller’s financier the amount of money needed to pay off the mortgage payments. It is for the quantity that the seller had pending if there are any.
The third and final step is the completion stage. The lawyer representing the seller receives money from the buying party. They later send the deed to the dealer representing the buying party.
The Post-Completion Stage
They will receive the mortgage discharge receipt from the solicitor representing the seller; the buyer’s conveyancer will be required to pay the land taxes. These are due on the property in hand. The purchase conveyancer will also be required to apply for the Land Registration.
Solicitors at most times charge high costs due to their involvement with the process. You are better of settling for house conveyancing solicitors willing to charge you fixed-fee services.
And to sign off…Remember that you have the option of hiring a licensed conveyancer as opposed to hiring a professional solicitor. However, the costs will be in the same price range. Again, you are not demanded to appoint a lawyer from the local authority. Find a conveyancer on this site for any property transaction you require.