The moment you plan to buy or sell a house or speak to someone who is buying or selling one, you will hear the term ‘conveyancing’ floating around. It simply means the transfer of the title and property rights from the seller to that of the buyer. However, if you do not hire conveyancing experts, there are many fine prints that you may miss out in the entire process, which could cause added harassment later on. Although many people might consider the conveyancing prices as an added expenditure, it is a necessary expense if you want complete peace of mind.
Buying a house has many legal liabilities attached to it. That is why one should be very cautious while purchasing a property. Once the contracts are exchanged with the parties involved, you are legally bound to the property and detangling yourself from it may take up the rest of your life. If you have conveyancing experts to do your bidding, you will know what you are getting yourself into, before you get into it!
To understand whether you need a conveyancing solicitor or not, you need to know what they do and what they have to offer.
• The first thing they do is to get the title deeds from the seller’s solicitors and examine them for any irregularities. The conveyancing prices you pay are nothing compared to the trouble you might have to face in case of any sort of irregularities.
• Conveyancing experts would also check whether there are any planning conditions attached to the property.
• The solicitor also needs to check whether the current owner has taken all the required permissions to make changes in the property like significant alterations or extensions if required.
• Conveyancing experts also make it a point to check whether there are any local developments happening in the area like building of new roads or the like as this may significantly raise or lower the future value of the property.
• They check whether the local amenities are all in order – the water, sewage, power lines, roads, etc are all in working order or are as is mentioned in the contract.
• Then the solicitor negotiates with the seller or his solicitor the terms of buying and drawing up the draft of the final contract. He then seals the deal by registering the change of title of the property and the mortgage deed with the Land Registry.
Whenever you choose to purchase a property, make sure you consult with a conveyancer, discuss the conveyancing prices and ensure complete peace of mind.