The Property Conveyancing Process: A Buyer’s Step by Step Guide
Most people choose a solicitor or conveyancer to carry out the conveyancing process. For more information on this take a look at ‘Do I need a conveyancer or a solicitor for my property transaction?’
Although it is possible to take care of the conveyancing process yourself it is complicated and can be confusing, and for this reason many people choose a conveyancer instead. Often your estate agents will recommend a property conveyancer, but these are likely to be commission based and could cost you more money. It is best practice to get a quick conveyancing quote off these and shop around for the best price.
Look for Conveyancing Cost and Service
When you’ve found a property conveyancing service you’re happy with, you need to instruct them to do your property conveyancing for you. Your appointed conveyancer will then draw up their terms of agreement with you, and contact the seller’s conveyancer or solicitor to confirm they have been instructed to act on your behalf and request a copy of the draft contact and other details such as the property title, for example. Your conveyancer will then run through the details with you to make sure everything is covered.
Your property conveyancer will examine the contract when it has been received and go through it with you, so you can raise any queries with the seller. Legal searches on the property will also be completed by your conveyancer, which may detect factors you were unaware of, including: flood risk, water authority searches, checking the title register and more. You then need to get your mortgage in place; your property conveyancer will need a copy to go through the details. Before signing the final contract your conveyancer will need to ensure that:
- All enquiries have been returned and are as expected
- A completion date has been agreed between the two parties, usually 4 to 12 weeks after the exchange of contracts
- The fixtures and fittings as listed in the inventory list are all still there and have not been damaged
- You have agreed a deposit with the seller’s solicitor/conveyancer
Your property conveyancer will then exchange contracts for you; this is usually done over the phone by reading the contracts aloud to make sure they are exactly the same. When the contracts have been exchanged you are in a legally binding contract to buy the property – if you drop out for any reason you will lose your deposit or 10% of the price of the property.
Fast, Convenient and Efficient Property Conveyancing
You should then organise the moving process; in most cases it is around this time you will need to pay your conveyancer’s fees. With Property Transaction you can get a quick conveyancing quote in less than 10 seconds – and it’s guaranteed to be great value with no compromise on service. When you choose our conveyancing services you’ll be assigned your own dedicated conveyancer who you can contact by phone or email – saving you the hassle and inconvenience of visiting us in person.
For a fast and efficient property conveyancing service talk to Property Transaction today or get a quick conveyancing quote.June 26, 2017