A Guide to Conveyancing

by PropertyBlawg on May 28, 2013

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Guest post outlining some of the considerations when hiring an experienced conveyancer in the UK.

Do you know what conveyancing is? If you’ve ever bought or sold a property or piece of land, then you should do. Conveyancing refers to the process by which documents pertaining to the sale of property are exchanged. It covers all the legal aspects of exchanging such documents, from their drafting to the time they are signed and handed over. As such, it’s an important part of any property sale, and one which any potential or current homeowner should be aware of.

Despite this process being an integral part of any property sale, many people don’t fully understand what conveyancing entails. So here’s a comprehensive breakdown of the conveyancing process, which should help you when you next decide to buy or sell a property.

After the Offer of Purchase

Conveyancing begins as soon as an offer of purchase has been accepted. At this point, or even sooner, you should get in touch with, and hire the services of, an experienced conveyancer of the sort provided by Conveyancing Direct. Your conveyancer will immediately get to work by sending agreement letters to all parties, inspecting the property to determine if any specialist reports are required, and making sure that all relevant documents are completed and handed over to their client’s solicitor.

Preparing the Contracts

After the deeds have been applied for, your conveyancer will help to prepare all of the necessary contracts and other paperwork which will be required to support the exchange of property. If, at this point, any queries are raised by either the buyer, seller, or their solicitors, your conveyancer will assist to ensure these queries are resolved. Once they are prepared, the contracts will need to be reviewed by both parties’ solicitors.

Receiving and Signing the Contracts

Once the contracts have been sent to the solicitors, both buyer and seller will need to sign the contracts and return them. Your conveyancer will at this point be working hard to ensure that all documents are signed and returned by a pre-agreed date, and that all agreements have been met well in advance of the completion date.

Exchanging the Contracts

The exchange of contracts will mark the completion of the property transfer. As such, this is a vital point in the property selling process, and one which will need to be handled with care. Your conveyancer will collate all of the figures, prepare a completion statement and forward this to all parties to be signed off on. The deposit will be transferred and funds applied for from the buyer’s lender, and the balance of the property will finally be paid off in full. Your conveyancer will remain at your side during this time, to make sure that all parties are happy with the agreements and transfers.

The Importance of Finding a Great Conveyancer

As you can see from above, the role of a conveyancer in the property transfer process is a vital and active one. This is why finding a great conveyancer is a must; to ensure that the sale goes off without a hitch and that all legal aspects of transferring contracts and property deeds are adhered to.



Property Law Blogger at PropertyBlawg
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