Conveyancing is a process of legal transfer of ownership titles from the seller to the buyer. It is a process set by the UK government to smoothen the entire selling and buying transaction. Conveyancers or property solicitors play a vital role in the entire house conveyancing process. It may sound simple, but there is a lot of paper work and legal formalities involved in it. So if you are looking for a new house it is advisable to hire a smart and qualified conveyancer for your deal. They know the industry well and usually speed up the process with timely document submissions and property surveys.
House conveyancing takes place in many stages. It involves two parties: one seller and one buyer with their respective property solicitors. Most of the communication regarding the deal is handled by the two solicitors. First stage, is the pre contractual stage where the price negotiation, final price settlement and signing of the agreement takes place. Buyer’s conveyancer will conduct various property surveys and searches to verify the property rates in the area. This survey will also tell if there are any land disputes or defects related to the property. Licensed conveyancers are authorized to conduct property surveys in a particular area, which saves a lot of time. Hiring a non licensed solicitor will lead to getting stuck in situations like these where he will have to wait for the permission from local authorities to conduct surveys.
After a successful survey, the buyer is requested to pay the initial deposit amount and the deal reaches to the completion stage. Here, the seller and the buyer will exchange contracts and agree to the terms and conditions mentioned in it. In this stage, the seller will give a date to hand over the keys and possession to the buyer. Buyer is also intimidated to deposit the rest of the amount on a fixed date to the seller. It is time to rejoice as the deal has reached the completion stage and no party can back out from the deal now.
One of the most important stages of the house conveyancing process is the post-completion stage. Buyer’s property solicitor is responsible to handle all the post sale legal formalities. It usually includes the stamp duty and land registration formalities. After completion of these processes, the deal is said to be successful and the buyer gets all the legal rights on the property. Property solicitor plays a very important role from starting the deal and taking it to the final stages. A qualified and professional solicitor will assist and handle all your legal hassles from the scratch to the completion.
Importance of property solicitor in the house conveyancing