Negotiate the Conveyancing Process Hassle-Free
When you buy a home, the conveyancing process can appear impenetrable to those without legal qualifications. It can be difficult not to get confused by legal jargon or by the many steps that must be completed before you can move into your new place of residence. However, the conveyancing procedure can be transparent and hassle-free, as long as you understand the basics.
What is Conveyancing?
Conveyancing is the legal process of transferring the ownership of a property over to the purchasing party. Once you have agreed to buy a property, the conveyancing procedure will take you up to the moment when the keys are exchanged and you can enter your new home as the recognised legal owner.
Who Should I Choose?
It’s usually best to appoint an expert to act on your behalf and this will usually be a solicitor or a licensed conveyancer. Estate agents will usually recommend a conveyancer, but this is likely to be done on a commission basis and won’t necessarily be the best fit for your requirements. It’s best to ask for a quote and use it as a guide when shopping around. Consider price, service and strength of legal experience when choosing a conveyancer. If you’re worried about the time taken by the process, you may wish to consider a firm that specialises in swift procedures.
What Happens Next?
The conveyancer you have instructed will contact the seller’s solicitor to request a copy of the draft contract, this is where making sure your home is in tip top condition will also help speed the process of sale. The property’s title and the standard forms. You and your solicitor will need to examine the draft contract and raise any questions you may have with the seller’s solicitor. Until you are absolutely satisfied with the contract, the two solicitors will pass it backwards and forwards in the interest of resolving your enquiries. The forms the seller has completed need to be examined and your conveyancer will conduct a set of ‘legal searches’ so that you can be made aware about factors to do with your property that would not be apparent from a viewing.
Once your mortgage is in place and the seller’s solicitor is satisfied that you have the financial capability to keep up with mortgage payments, you will need to buy buildings insurance for your new property. You will be responsible for its upkeep once the contracts have been exchanged. When both parties are happy with the final version of the contract, it can be signed. You are then held by a legally binding contract to purchase the property and, unforeseen financially difficulties notwithstanding, guaranteed to become the happy new owner.