If you are interested in buying a new property or want to sell your old one then you may require the services of a conveyancer to see to the legal requirements. He will make sure that no hitches are involved in the title transfer and your rights and interests stay protected during the deal.
Under the prevailing laws of property transfer one can act as his own conveyancer but the sheer volume of legalities and documentation involved in the process can be daunting. Hence, hiring a professional conveyancer is a better option.
Engaging services of a conveyance involves costs of thousands of pounds. You may therefore carefully shop around to find the best quotes in your neighbourhood.
The conveyancing fees vary among conveyancers, which makes it imperative to personally interview and get quotes from multiple conveyancers before finalizing one. This can help you save unnecessary expenses. Often conveyancers aren’t upfront with their charges, which can cause the initial low rate to soon snowball to a huge amount – eliminating the initial cost benefits. To avoid being ripped off you therefore must know the right questions to ask your conveyancer.
Sometimes your estate agent would try to impose his preference of a conveyancer on you but don’t accept his proposal on the face value but at least survey the market and compare quotes. Conveyancing fees depend on the works undertaken by the conveyancer, which are categorized as following:
- Property value evaluation in case of remortgaging.
- Homebuyer’s report for property buying which includes title search, inspection of the property etc.
- Extensive structural survey on very old property.
Your conveyancer may charge a flat fee or percentage of property value or hourly rates based on the terms of the agreement. You may ask him to be as upfront and transparent as possible to disclose the fees for each service undertaken. Don’t get discouraged to ask questions.
Some conveyancers would include charges for preparing documentations for mortgaging, such as –photocopying, paying postage and bank charges etc. You may confirm whether it is a case with yours or not. Read the contract carefully to understand the hidden charges that your conveyance will not disclose to you.
You can now compare conveyancing charges in your area easily online. Some conveyancers let you generate quote on their websites based on the data inserted by you.
Coveyancing may take three months to get completed depending on the complexities involved. Select a conveyancing firm that allows you to track the progress of your case on their website. Some conveyancing firm would work on no-completion, no-fees basis, check if your solicitor is offering the same or not.