There is a lot to consider when selling or buying the home of your dreams. Being stressed is normal when making such a big change, money can be an issue when it comes to surveyors, estate agents and home removal. Hiring a conveyancer is one more essential service when selling your home and purchasing a new one. Many people might not be familiar with conveyancing procedures, especially if they’re a first-time buyer. We have compiled a list which contains everything you need to know about conveyancing and conveyancing solicitors.
Conveyancing is the term used to refer to all of the legal and admin side of work that originates with shifting the possession of land or buildings from one to another. A licensed conveyancer or conveyancing solicitor will work on behalf of the person buying or selling the property, making sure all the necessary contracts and documents are signed and transferred correctly and efficiently. You will need a conveyancing solicitor after you have agreed to an offer on a house with the buyer or seller. Conveyancing is a significant service for both parties; the buying and the selling. The conveyancing procedure will last up until you have the keys in hand.
What Exactly do Conveyancers do?
A conveyancer helps take care of the legal side of buying a house, with the ultimate goal being the transferring of ownership from the seller to the buyer. They will confirm essential papers and admin duties are signed and carried out.
A conveyancer’s main responsibilities are:
- Land registry searches
- Advice-giving duties
- Examination of contracts
- Communicating with mortgage lenders
- Conclude contracts
- Pay fees and sale worth
What is a Transfer Deed?
A transfer deed is probably one of the most important documents in conveyancing processes. A transfer deed is a final document that legally transfers ownership of the property from the seller to the buyer. It is then sent to the land registry to complete the transferring ownership. The transfer deed is generally drafted by the buyer’s conveyancer and has to be signed by the seller. It has to be submitted after the draft contract has been approved and before exchanging contracts.
The Process After Completion
You now own your home, but your conveyancer’s job isn’t done just yet. They now have to pay stamp duty for you this is from the money that you have already provided, and they also send your legal documents to the land registry to authorise you like the new holder of the home. The conveyancing solicitor will also send a draft of the title deeds to your mortgage lender. The documents from the land registry should be back with you in about three weeks. It can be a very stressful and long process from making the successful offer to finally owning your home but the help from a good conveyancing solicitor can make the whole thing loads easier and less stressful.
We hope that you found this blog helpful and has aided you in understanding what conveyancing is and what it involves. If you have any questions, please don’t hesitate to get in touch on 01536 238660 or head over to our contact page.