Understanding the Conveyancing Process
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Understanding the Conveyancing Process
When buying or selling a property you will need to enlist the help of a licensed conveyancer or conveyancing solicitor to help with the legal transfer of the property title from one person to another.
When buying or selling a property, all you probably want is for the process to complete as quickly as possible with as little stress as possible. Choosing a conveyancing service with competent licensed conveyancers or conveyancing solicitors can help ease the whole process.
To help you better understand the conveyancing process, listed below are some of the important tasks that must be carried out before the purchase or sale can complete.
" Drawing up the contracts
The role of a seller's conveyancer involves many tasks, one of the most important is drawing up the contract for the buyer's agreement. The buyer can negotiate the terms if necessary and their conveyancer will advise them on the contents of the contract.
The contract will include details such as how much the property is being sold for, what the boundaries of the property are and what fixtures and fittings are included in the sale.
" Dealing with mortgage companies
The buyer's conveyancer will liaise with their mortgage lender (if any) to obtain a copy of the mortgage offer and the seller's conveyancer will request details of the existing mortgage (if any) from the seller's lender. This is to ensure that the buyer has sufficient funds to complete the purchase of the property and the seller has an up to date balance on what is left to pay on their existing mortgage.
" Carrying out the required searches
A licensed conveyancer or solicitor for the buyer will carry out searches as part of the conveyancing process. Searches are carried out to check whether there are any problems with the property. The main searches that will usually be carried out include: Title search, Local Authority search, Drainage and Water search and Environmental/Contamination search.
There are other searches which may also be carried out however these are dependant on which part of the country the property is in. Your licensed conveyancer or solicitor will be able to advise you on what searches will be required for the property being purchased. |
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Author Resource:-
The Co-operative Legal Servicesoffers a professional conveyancing service that is convenient to use and dedicated to helping you move with as little stress as possible.
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By :
Gareth Hoyle
Submitted
2011-10-31 08:07:24 |
Article From Article Mayhem
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