The Basics of Conveyancing
Buying a home, whether this is your first time or not, involves a long process that you can find to be confusing, exhausting, and frustrating. There are a lot of involved tasks and activities such as background checks on the property, verifying and completing paperwork, and a number of legal tasks. If you're not careful about overseeing the accomplishment of these, your home purchase may end up in the bin, leaving you either homeless, broke or both.
This is why instructing a diligent conveyancing solicitor is crucial to ensure the seamless carrying out of this task, ease out the difficulties, and get everything in order. Once you've entrusted a conveyancer to work on this on your behalf, your work is significantly reduced to talking to them about what happened and what else needs done, reviewing and signing documents, and getting your finances organised.
Whether you'redoing this for the first time or not, you should know how important it is, when hiring a conveyancer, to get yourself familiar with the process and understand what the expert should talk to you about. This is so you won't leave everything to them or run the risk of being kept in the dark.
More so, you need to ensure that the conveyancing solicitor you're instructing will do everything properly and won't just waste your money and time. You need to see to it that the tasks they're carrying out are compliant to updated laws and regulations, and are in accordance with high quality standards.
Also, it could be a little difficult to discuss things with them with the jargons being used and the steps taken throughout the process. At the very least, if you know the basics, you'll be safe understanding how the whole process can be transparent.
What is conveyancing?
Basically, conveyancing is the legal process of the transferring a property's ownership from one party to another. This happens as soon as your offer has been accepted by your seller. The process takes place for weeks, generally 6-12, and is considered complete when the Title Deeds are transferred to you (the buyer and new owner) and the keys to the property are handed over.
Who should you instruct?
It is strongly advised that you shop around for a conveyancer a couple of weeks before you make an offer on a property. This gives you an advantage in terms of preparing the paperwork on your end, and getting everything else in place.
But when it comes to finding the ideal one, it's always best that you instruct someone who knows a good deal about property transactions, particularly with different situations and transaction complications, so you would be given proper advice and recommendation if push comes to shove.
There are instances where estate agents you're dealing with would recommend a solicitor to hire. Though there's nothing wrong with it, you might want to think it over. Not all of them will offer the best services, and more often, estate agents are only after huge referral commissions from conveyancing fees you're paying.
While that's not always the case, it pays to be a bit more careful and shop around on your own. You can log on to the Internet and ask for conveyancing quotes from various firms that you can compare and choose from. Just make sure you get in touch with the firms or individuals on your list to ask them further questions and find out which one may give the best value for your money.
More importantly, you will have to make sure you're choosing a member of the Council of Licensed Conveyancers or someone accredited by the Conveyancing Quality Scheme, to make sure they do their jobs according to compliance regulations and excellent quality standards.