Whether you are buying or selling a property for the first time, the process of conveyancing can be extremely complicated, time-consuming and overwhelming. There are several legal matters, regulations and financial arrangements that need to be organized and coordinated. This is why you need an experienced and knowledgeable person who can streamline the conveyancing process to deal with all the matters quickly and smoothly. Solicitors conveyancers are proficient experts who can handle all the aspects related to selling or buying a property on your behalf. They will keep you updated and offer you the needed support to make the entire process smooth and less stressful. Let’s find out more about these experts, so that you can take an informed decision.
What Steps Are Adopted By Solicitors Conveyancers?
Every property transaction in unique in its own ways, and each one often comes with a few challenges. The typical process that solicitors conveyancers handle include the following:
Instructing The Solicitors
When you plan to buy or sell a property, you need to find a conveyancer and instruct them to help you complete the transaction. By doing this, once a buyer or seller approaches you, they can proceed with the process straight away.
Conducting Searches And Enquiries
Your conveyancer will receive a legal title and contract from the buyer or seller. They will go through it carefully and raise any enquiries to get clarifications on certain points. They also check that everything is in proper order, including checking the rights, planning permissions for modifications, etc. Then, the solicitors conveyancers will carry out the searches to check whether there are any adverse matters or not that can affect the property transaction. There are essential as well as optional searches that need to be conducted on the property, not only by the buyer and seller, but by the mortgage lender as well.
If you are planning to buy a property, you will probably apply for a loan as well. In that case, your lender will expect to receive all the details and information about the property and this is the task that solicitors conveyancers will be able to handle with proficiency. They will offer your application in such a manner that the lenders will offer you the loan with the easiest of conditions.
Working For The Lender
Your mortgage lender will also want to evaluate the property and ensure its worth to secure loan against it. A surveyor can be instructed to conduct this survey and other needed checks. Your conveyancer will also act for your lender, conduct certain checks for them, and comply with conditions referred in their offer. They will also provide information and documents to all the parties involved on your behalf. They will meet all the conditions before the lender releases the funds.
Before the contracts are exchanged, the solicitors conveyancers send a copy of the key documents to their clients, including mortgage deed, signing transfer, required forms, reports regarding key points of the property, etc. Once all the parties satisfactorily answer all the enquiries, payment will be made and deposit will be requested.
Exchanging The Contracts
After the solicitors conveyancers involved in the transaction have finished with their searches and got their finances ready, enquiries are replied to and documents are signed. Finally, all the parties agree upon a mutually convenient date and place, and meet to exchange the contracts.
Completing The Deal
Once the funds are transferred and contracts are exchanged the keys are handed over to the buyer. This is the act that finalizes the deal and completes the transaction.
Now that you know what solicitors conveyancers do and how important it is to hire them, find an expert who is experienced in the field, so that he or she can handle your transaction with proficiency.