You’d certainly be forgiven for assuming that conveyancing solicitors just work on a bit of paperwork when it comes to purchasing a home. As a matter of fact, they do a lot more than this. Their many duties involve transferring title deeds, arrange property searches and can assist with very helpful legal guidance when any issues arise in a survey.
In this blog, we break down the various types of conveyancing professionals as well as the specifics of what they do. Using the services of a conveyancing solicitor you will find that you have everything necessary in order to choose a great conveyancer and fully understand what you need them to do for your property purchase.
Essentially a conveyancing solicitor is a fully qualified practising solicitor who can carry out the conveyancing process on your behalf. They’ll often have wider training in other areas of the law as well.
This additional knowledge may come in useful if you’re trying to handle other legal matters at the same time that you may be purchasing a home, an example being, drawing up a will. In England and Wales, all practising solicitors are registered with the Law Society and the profession is regulated by the Solicitors Regulation Authority (SRA).
Consider that solicitors in Scotland are overseen by the Law Society of Scotland, and that the conveyancing process is slightly different from the rest of the UK.
With the increase in home ownership throughout the 1980s, a change in the legal proceedings meant that conveyancing could also be carried out by specialist lawyers known as “licensed conveyancers”.
Licensed conveyancers do not have the same experience in other areas of law such as solicitors. They are qualified lawyers who deal exclusively with property law.
They work under a different regulatory framework from conveyancing solicitors, called the Council for Licensed Conveyancers. They are responsible for setting and maintaining professional standards in the industry.
You may be surprised to know that anyone can act as a conveyancer. In legal terms, nothing prevents homebuyers carrying out the legal process themselves.
The DIY conveyancing route is not one that is necessarily recommended – the process is complicated and the risk of getting something wrong is incredibly likely. Missing specific elements in a contract, or following up on a property search could mean issues with the property, or your rights as an owner – can be highly problematic.
In regards to what is most likely to be one of if not the biggest purchase of your life, it’s certainly not really worth taking the risk, is it?
What does a conveyancing solicitor do?
Your conveyancing solicitor will work on different tasks depending on whether you’re buying, selling or if you are doing the two things together. The key role is to make sure that the transaction goes through legally, and to deal with all the smaller legalities. Things like thinking out what is included in buying the property, carrying out local searches and conferring with the seller or buyer’s solicitors to choose a completion date are just the beginning.
They keep the process moving swiftly forward, will update you on necessary steps and provide some time to answer your questions as well as concerns.It makes total sense to use the same conveyancing solicitor for both buying and selling, so they can help coordinate the events for the move over time.
The initial stages
Things start moving once you have agreed a purchase price and the offer has been accepted. Consider the fact that accepting an offer isn’t in itself legally binding for either party until contracts are exchanged, and that overall the conveyancing process often takes 8-12 weeks.
When you are selling
Once you have found and instructed a conveyancer, they will often ask for the property’s title deeds. If you own your property outright, you might hold these yourself or have them lodged with a solicitor. If you have a mortgage, then the deeds may be held by the lender and your conveyancer will request them from the lender and do so directly.
Your conveyancer may also query with you and ask for approval of the property information form which details everything that will be included in the draft contract.
The conveyancer will also liaise between the buyer’s solicitor and yourself in regard to any queries or concerns on the buyer’s end about the property, as well as any items to be included in the sale and so on.
When you are buying the property
Your conveyancing solicitor will assist with the necessary groundwork relating to your mortgage lender, work out if you need to pay for Stamp Duty Land Tax, and will carry out searches on the property. These will tell you certain things about the area and confirm your purchase as it will be expected.
From drafting contracts to completion
The exchange of contracts makes the sale legally binding; however, there are a few stages to the overall process. Your conveyancer will first give you a draft contract for you to agree and sign, which will detail to you the Particulars of Sale, Conditions of Sale and the agreed date of completion. The finished draft contract is then sent to the buyer’s conveyancer. Once this has been approved by all, the contract will be drawn up to be signed.
Once signed, the conveyancers will then exchange the contracts. This is also the stage at which the buyer’s deposit will be transferred. On the completion date – when the property has been transferred to the owner – the buyer’s conveyancer will arrange to transfer the outstanding money to the seller’s solicitor. The completion date is often the date the seller needs to be out of the property, and the keys have to be given to the estate agent to hand on to the new owners.
Selecting a conveyancer
Not only conveyancing solicitors but also licensed conveyancers are able to deal with the legal conveyancing process when you purchase a new property. If you’re planning to seek legal advice on other topics as well as the property transaction, then a conveyancing solicitor may be a good choice for you. We can ensure that any property-based legal procedures are handled with the utmost care. Whether commercial or residential, our conveyancing solicitors offer only the best help and advice.
Richard & Lewis – Licensed Conveyancing Solicitors You Can Rely On
Are you looking for conveyancing solicitors near me in Ebbw, Blaenau Gwent or anywhere throughout South Wales to assist you buying or selling a property? If so, Richards and Lewis are licensed conveyancers who can help you with your property-based legal requirements. We understand that the process of buying and selling a home can be very stressful. From searching for ‘property solicitors near me’ to dealing with chains and actually moving, there’s a lot to consider. We provide a very simple conveyancing service as an attempt to take just some of that stress away from you.
We are experts in the field, with years of experience. We are a safe pair of hands and always endeavour to ensure that we provide an excellent service for every client we work with. If you need a solicitor for buying a house, we will provide you with expert care and we always endeavour to ensure we handle every case professionally. Whether you need commercial or residential conveyancing lawyers, we are on hand. Our conveyancing costs are affordable, too. To find out more about the legal services we offer, please contact us today.