Buying or selling a property can be a daunting prospect, but by making the right choices at the outset of the process a lot of the pitfalls can be avoided.
Top of your to-do list should be finding a quality conveyancer, and the Law Society is now operating a Conveyancing Quality Scheme trusted by major lenders.
Your conveyancer will be able to explain the steps involved in the conveyancing process, the service you can expect and what the costs are likely to be.
Wherever you are looking for a firm of conveyancing solicitors Reading, Rotherham or Rochester, you will find help at sites such as https://www.samconveyancing.co.uk/conveyancing-solicitors/conveyancing-solicitors-Reading.
Once you have chosen a conveyance, you can begin the process of buying or selling the property, and there are many steps in the process. Here are five of them.
1. You will need to formally instruct your conveyance, which simply means entering into an agreement for them to act on your behalf. It is important that you feel comfortable with your choice and that you clearly understand what the fees involved will be before formalising the arrangement, when the conveyancer will need to verify your identity.
2. If you are a purchaser, the conveyancer will carry out some initial tasks in relation to the property, including checking the contract bundle provided by the seller’s agent. This will include the draft document, Land Registry Title documents, any lease information and the seller’s property information pack relating to fixtures and fittings and any building regulation documents relevant to the property. Your conveyancer will check any restrictions or covenants which relate to the property and look at boundaries and access.
3. There are several searches which need to be carried out with the Local Authority planning department to uncover any plans for the area in which the property is located. Environmental searches will also be undertaken as well as enquiries into water and drainage operations. There may be other specific local searches involved.
4. Usually your conveyancer will also act for your mortgage lender, ensuring all the correct processes are followed.
5. Finally, the conveyancer will negotiate exchange of contract and completion dates and handle the transfer of monies and payment of any stamp duty and Land Registry fees due and undertake any post-exchange searches to make sure all legal charges have been removed.