What is Conveyancing?
Conveyancing, simply, is the legal process by which property is transferred from one owner to another. Whilst this concept in itself sounds simple, and it can be, unfortunately conveyancing has something of a reputation of being lengthy, complicated and overwhelming.
As experts in conveyancing, we try and reduce some of the mystery of conveyancing and our ultimate aim is to give our customers a fast, seamless completion with the minimum of stress during one of the biggest transactions faced in life.
As part of this, we’ve provided a selection of conveyancing facts and answers below to help those considering instructing a conveyancer or looking to understand more about how the conveyancing process works in real terms. We’ve also covered off the big conveyancing milestones, and detailed the step by step process you should expect as part of your experience working with a specialist conveyancer like Redbridge Law Chambers.
How do I choose a conveyancer or solicitor?
If you’re jumping onto the property ladder for the first time then amongst all the other tasks such as getting a mortgage in principle and house viewings, selecting a conveyancer or solicitor should be considered a priority before putting in an offer.
More than likely you’ll seek advice on a conveyancing recommendation from friends and family on who they will have used for their property transactions in the past, whether good or bad.
Your mortgage lender or mortgage advisor may also be able to give a recommendation on a reputable conveyancing firm as well as the estate agent you’re dealing with.
A quick online search is likely to show local as well as national conveyancers. It’s not essential to appoint a conveyancer that is local as many conveyancers offer online portals to access important information as well as to keep up to date on where your transaction is.
Therefore it’s down to preference on how you like to liaise with the person managing your property transaction.
Like many monetary outgoings, it’s always worth looking to obtain several quotes to help make your final decision. The cheapest firm may still charge you even if you don’t complete the transaction, therefore, making it a more expensive option. While a more expensive firm doesn’t automatically guarantee the best user experience.
For added peace of mind make sure your conveyancing solicitor is a member of the Law Society of England and Wales and a member of the Law Society’s Conveyancing Quality Scheme.
Conveyancers, like us, must be members of the Council for Licenced Conveyancers.
What does a conveyancer do?
Essentially your conveyancer manages your property transaction from start to finish working through the legal aspects of the transfer of ownership, including:
- Draw up draft contract
- Verify your identification
- Order local searches* & title documents (*and additional property searches if required)
- Check for any conditions outlined in your mortgage offer
- Raise any issues highlighted within a property survey
- Go through the paperwork and each search carefully to raise any queries with the seller’s conveyancer
- Negotiate a date for exchange
- Agree a date for completion
- After completion, there will be a few loose ends to tie up. If you are buying they will:
- Pay Stamp Duty Land Tax on your behalf
- Register you as the new owner at the Land Registry
- Notify the freeholder if the property is leasehold
If you are selling they will pay off any mortgage and settle your estate agent’s fees, and then provide you with the balance of remaining money.
