The process of transferring property titles from one person to another can be a nerve-wracking process, especially if you are a first time homebuyer. The legal term for the person who helps with this is a conveyancer; however, solicitors as also qualified to do this job. Solicitors who achieve high standards of service in the conveyancing field can be tested by the law society to carry a kite-mark style logo that shows they are part of the Conveyancing Quality Scheme (CQS). The Council for Licensed Conveyancers website lists all authorized and registered conveyancers.
What do conveyance solicitors do?
S/he will conduct searches local authorities, utility companies and other bodies to prevent financial liabilities and to adjust flaws with any current or future plans. Searches will reveal things such as sewage lines, church repairs or other key details such as these.
- Offer advisement of any incurred costs, such as stamp duty or chancel repair, for those homes that are near churches.
- Check and draft contracts regarding the purchase and exchange of property.
- Ensure the mortgage lender has all needed information regarding the property from all involved parties.
- Pay out all needed fees, including estate agency costs and stamp duty. This allows you to pay the solicitor alone rather than four or more separate collectors.
- Prepare and submit new owner forms within the Land Registry.
- All of this could technically be done yourself, however the fines and fees for not properly filling or submitting forms can cost a much higher fee than a solicitor would have.
- charged you in the first place. Ensure things are being done properly and efficiently, hire a conveyancing solicitor.
When should I choose a conveyancing solicitor?
When selling it is best to choose your conveyancer as soon as you decide to sell. This allows as much paper work as possible to be sorted and submitted even before a buyer is found.
Appointing a conveyancer at the same time you choose a mortgage lender can save time. Many mortgage lenders only work with certain approved conveyancers. These are typically those whom they feel have the highest scruples for checking searches and verifying the home is free of problems. This process is commonly called due diligence. If for any reason you do not need a mortgage, you should still get a conveyancer very early on in the house buying process.
If you have already chosen a mortgage, lender you can often gain a list of pre-approved conveyancers from them. You may use your own conveyancer in most cases; however, this may incur an additional charge on your mortgage.
Find out if you chosen conveyancer works online. This will allow you to check progress online. Typically, you will be contacted via email or text for additional paperwork or approval needs. If you are computer illiterate, you may want to ensure that your chosen conveyancer does not rely on this technology.
Choosing the best conveyancer often comes down to cost. For advisory on this, please see the (conveying fees) article.