It is quite natural for a first time home buyers to often feel overwhelmed by the large volume of legal documentation involved in property conveyancing. Property conveyancing is a process through which the rights of the seller on property title legally shift to the buyer. Conevayncing process can be complex and may involve a lot of legal leg work. Hiring a professional conveyancer would ensure that the property title is properly searched for legal obligations, unpaid taxes and debts etc. All these information are essential for making a wise buying decision. A property conveyancer can undertake the background search task on your behalf.
Who is a property conveyancer?
A property conveyancer is a legal expert in property laws in UK and Walsh. He undertakes the task of confirming marketability of a property title. Under the existing laws the buyer or the seller or both can appoint property conveyancers to protect their interests in the deal.
Property conveyancing is an expert service rendered by conveyancing experts. Solicitors offering conveyancing solutions need to get themselves registered with the Council of Licensed Conveyancers.
Conveyancing is a complex process and it comprises the following stages:
- Before the contract
- During the contract
- And, after the contract
A conveyancer undertakes the task of performing the background search on the property title which involves obtaining the Land Registry Certificate or the title deed.
Instructing a conveyance is an important part of property dealing. You can instruct your conveyancer as soon as you determine too buy a certain property. A conveyancer may also conduct a physical survey of the property to prepare homebuyer’s report which can grossly impact your buying decision.
Apart from performing the background search and inspecting the property the conveyancer also completes the documentation process, drafts the contract, liaises with the other conveyancer and collates contract of sale to protect his client’s interest in the dealing. Professional conveyancers also help their clients with preparing documentations for mortgage.
What is the cost of property conveyancing?
The cost of property conveyancing may vary depending on the area and conveyancing solicitor. There is countrywide conveyancing as well as local conveyancing firms offering services. The charges may vary depending upon the exposure of the conveyancer. The average cost of conveyacing on flat-fee basis in UK is around £750. Conveyancers can also charge percentage of sales price or hourly rate basis as well.
Some conveyancing firms may agree to sign no-completion, no-fees, agreement with you. Under the contract the client isn’t obligated to pay the fees till successful completion of the case, which can take 8 to 12 weeks on an average.
The buyer can also act as his conveyancer but it is advised to hire expert services of a professional conveyance to ensure peace of mind.