When you’re buying and selling property making and accepting the offer is the easy part. Conveyancing is the longest part of the move process, meaning added stress and wasted time you could be spending in your new home if you’re not prepared. Avoid hassle and stress by being ready and knowing the process.
You don’t have to wait until the offer is made to contract a conveyancer. Once you have decided to sell or buy go ahead you can begin your research and get the paperwork wheel turning to ensure as much as possible is done prior to moving day.
Recommendations Go Far In Conveyancing
If your mortgage is tied to a particular lender it is a good idea to check if they have a list of approved conveyancers. Any solicitor can act as a conveyancer, but it is always best to work with someone who specifies in the area to make sure you get the best service you can. As well as solicitors there are licensed conveyancers who can help you. Due to the legalities behind real estate and conveyancing as a whole it is highly advisable to seek professional help as opposed to trying to go about it yourself.
What to Expect From Your Conveyancer
Conveyancing is essentially the administration and legal end of transferring property ownership. Your conveyancer does a number of things for you to clear the purchase. This includes a number of searches (with the local authority and utility companies, amongst others) to make sure there are not additional liabilities affecting the property and this will also enable them to advise you of incurred costs, including stamp duty. They will check your mortgage lender has all the information about the property from both parties and then carry out the payment of fees on your behalf when everything is done. They will also check the contracts and take care of registering the new owners with the Land Registary.
This part of the process can be the longest, most arduous part of buying property. According to reallymoving.com it can take 8 to 12 weeks to go through. The first part can take up to 10 weeks while all the searches and paperwork are completed and everything checked. During this time either party can still pull out of the deal, but may be liable to pay fees for any conveyancing work already done. After this the exchange of papers happens, and from this point you are legally tied to the purchase.
Conveyancy fees vary, costing up to £1,300 depending on the value of the property, and it is essential to get a quote in advance. As well as the fee conveyancers may charge costs for a variety of things out side of normal working hours, including postage and legal expenses. Quick Move offer a transparent fee and they work with all the big mortgage lenders. They also offer a no-move-no-fee promise, giving you the security of knowing if the other party pulls out of the deal or you have to you won’t have to pay. This is especially reassuring as you prepare to make the biggest purchase of your life. While the process may seem stressful, getting a conveyancer you trust is important and will help you get the home of your dreams or that new investment property without the headache.