Whether you are selling or buying a property, conveyancing is one of the most important steps of this transaction. Generally, a licensed solicitor handles the conveyancing process for both the buyer and the seller. It is a legal procedure, which is required for the transfer of any property from one individual to another.
What Is Conveyancing?
Transferring of ownership of a land or building from one to another is a legal procedure. It requires a lot of administrative and legal work. This entire legal procedure is called conveyancing. This is a lengthy procedure and can take up to 3 months to complete. It also involves a lot of paper work.
You can either hire a conveyance to do the job or do it yourself. Handling it yourself might be cheaper but a very daunting task. It is much easier to give it to a conveyancer or people who are specialised to do the job than do it yourself. A conveyancer is a solicitor or property lawyer, who has been licensed by law to undertake this activity.
How to Find the Right Conveyancer? : Once you start looking, you would find that there are many conveyancers to choose from. You can decide the one that best suits you by doing a survey on different services they are offering and their level of expertise. You can make a shortlist of the ones that you think are most suited for your work.
You can start comparing the cost of conveyancing services offered by each one of the shortlisted conveyancers. Now, based on your budget, decide on the conveyancer and hand over the task to him.
What Is the Conveyancer’s Role in the Property Deal?
- The conveyancer will visit the property and access the condition of the property.
- He will check that all the utilities are working properly and that no financial liability to any utility company is still pending.
- He will then evaluate the value of the given property.
- He will advise on any additional cost that will be incurred while drawing up the contract like stamp duty etc. and pay them on your behalf.
- Once evaluated, he will do all the paperwork required to draw up a Contract of Sale. The Contract of Sale or Title Deed is a legal requirement for every property deal.
- He will then hand over the contact to the real estate agent.
- Once the deal has been finalised, he will help with the registration of the new owner as the owner of the property.
Buying and selling of property is a very important step in any body’s life. These are not tasks, which we undertake daily and are therefore not equipped to handle it. Right advice about the procedures is important to complete the selling or buying of property. The conveyancer is the right person to handle this difficult and lengthy task for us.
Time and effort is needed to complete the steps and paperwork carefully. The entire transaction should be completed without missing out anything because any wrong step or wrong paperwork can have both legal as well as financial implications later.
James Harris is an ardent writer and he has written many blog posts on topic related to finance. For comparing the cost of conveyancing services, you could also visit their website.