Common Enquiries Or Problems Solved
Conveyancing is a tricky and lengthy process. Buying or selling property is no simple deal, it can take months to complete the transaction. Prospective buyers are often frightened or intimidated by technical terms or the complications that may arise during the process. If you are such a person, then you should know that there is nothing to fear. This article answers some of the most common questions that people have about conveyancing and conveyancers. Once you come to realize that conveyancing is not all that complex, it will help your transaction go smoothly and you can buy or sell your home without any fear or stress.
- What are the things I have to do?
Although most of the conveyancing process is handled by your conveyancing solicitor, there are certain things you have to do. One of the most important tasks will be signing and returning your contract, which you should do as quickly as possible so as to not slow down the overall process. Talking with your conveyancing solicitor in the early stages is an excellent way to find out exactly what will be happening and what you’ll need to do and that way there won’t be any surprises along the way. Read the contracts and the rest of the paperwork carefully. If you don’t understand anything, as your solicitor to explain it to.
- How do I choose a conveyancer?
Make sure you pick a solicitor who is a member of the Solicitors’ Regulation Authority (SRA). If you hire a licensed conveyancer make sure they’re registered with the Council for Licensed Conveyancers (CLC). These professional organisations help assure high standards amongst their members. You should also ask to see testimonials from previous clients or reviews online from other clients. Choose a well reputed firm, possibly one recommended by friends or family members. Your real estate agent can also refer you to licensed conveyancer. Furthermore you should expect to receive a client care letter when you first start the conveyancing process. This will explain all the financial aspects and costs and will also detail the firm’s policy on customer complaints and grievances.
- How much will it cost?
Costs will always vary and it depends on certain factors such as the type of property being sold, and if there are any other issues that have to be sold first. Generally, solicitors and conveyancers charge a basic fee for their time and services, with any disbursements in addition (e.g. fees for land searches etc.) Choose a firm with a ‘no sale no fee’ policy, so you won’t have to pay anything if the deal falls through.
- How long will the process take?
There is no proper answer for this question, as each transaction differs when it comes to the time it takes to complete it. The easiest way to make it go faster is to complete all the legal formalities as early as possible. Buyers and sellers will often agree a date and, as far as is practically possible, solicitors and conveyancers will try to work to this date. However, there is no fixed time as no two transactions are the same. If the title and searches are returned promptly and are clear with no complications, realistically the quickest the process could be completed in is around 6 to 8 weeks. However, if the case is complex, or if any issues come up, the entire process can take months to complete.
- Can a solicitor act for both the buyer and the seller?
Many people think that with a solicitor or online conveyancer acting in both ways that the bill could be cheaper and the process going through quicker. This is not permitted because it causes a conflict of interest for the solicitor. As a result, you need two different firms to deal with your transaction. Otherwise it creates a dilemma, making the whole process impossible.