Buying and selling property has to be safe and secure for both the parties from legal angles as also for enjoying property without any complexity in future. The whole process is intricate and takes a few months. It may be longer if the property transfer is part of a series involving several buyers buying different parts of the same property for instance, sale of apartments in a housing estate. Out of all procedural activities involved in sale or purchase of properties, property conveyancing is the most important. For seller, it is getting a genuine deal for receiving the value of property and for buyers it is a genuine investment for peaceful possession free from all legal complexities and use of property in future.
Conveyancing property is the most intricate part of transfer of properties that digs up vital information involving successive transfer of ownership, whether a property in question gets affected in any way with future plans of development and use by local administrative bodies and more. Amongst all outside agencies involved in property deals, responsibility of conveyancers have is utmost. They are qualified and recognised to do this work and ensure a deal free of liabilities in future.
Property conveyancing categorically involves a lot of things like
1. Buyer’s social liability of drainage repairs if the property is in proximity of local church.
2. Searching history of property according to the records of the department of Land Registry.
3. Getting all relevant information as required by mortgage lenders, examining and suggesting about draft of agreement of sale.
4. Advising on stamp duty and various other administrative expenses involved in transaction and follow registration of new ownership with Land Registry department.
For easy mortgage financing, use of conveyancers empanelled by the lenders is most advisable. However, no hard and fast rule exists about it and the parties are free to choose their licensed conveyancers unless particular mortgage lender has a reservation on this issue. In such cases, there is no choice but, using any of the listed professionals.
Like the modern days’ facility of online property search meeting specific requirements of the buyers, online property conveyancing has also come into existence. Since this sort of functional arrangement cuts down producing and sending number of documentation with online transfer, online conveyancing becomes little cheaper.
Signing of Exchange Contracts is alone the recognised link that establishes legal commitment between the parties. Conveyancers make sure of a safe deal overseeing it from every angle including the day scheduled for handing over the key. Property buying is lifetime investment for most of the people involving large amount of money. Similarly, for sellers, it is highly emotional act and necessitates getting into genuine deals for realising agreed value of the property. Conveyancing property is the professional practice that checks and advice the investors on essentials like Energy Performance Certificate, stamp duty, search findings, tax and other dues with local authorities against a property etc. Their professional responsibility also goes to checking and advising on appropriation of the draft agreement on property boundaries, fittings and fixtures, services to the property, and planning restrictions.
Property Conveyancing-Enjoy property without legal complex