Are you in need of conveyancing services?
Posted on: 9 November 2020
If you are trying to buy your first home, then you will soon discover that there are plenty of steps involved in the process. While it would be nice to simply draw up a simple agreement between the seller and the buyer, there are always going to be many different professionals involved in the sale. One of those professionals should be responsible for completing the conveyancing so that the sale can be completed. Here is what you need to know about how conveyancing services work.
What is conveyancing?
Conveyancing can be defined as the legal transfer of property from one owner to another. There are generally seen to be two parts to the conveyancing process which are central to the sale. These are the point where contracts are exchanged and the time of completion when all parties are free to move into their new properties. To enable these two events to occur, there is plenty of administrative and legal work that will take place in the background.
What is involved in conveyancing?
As soon as you find a property that you want to buy, your conveyancing solicitor will need to be sent a copy of the legal title and a contract. Once they are in possession of these items, they will be able to check that they are in order and ask any questions that these documents raise. For example, they will want to check that planning consent was granted for any alterations that have been made to the property. They will also be responsible for any searches that are needed to check that there is nothing which could affect your enjoyment of the property or which could have an impact on the decision to grant you a mortgage.
Arranging your mortgage
If you need a mortgage, then your conveyancing company will confirm to your lender all of the information with which you provide them. The lender will also ask the conveyancing firm to carry out numerous checks on their behalf and ensure that any conditions in the mortgage offer are met.
Exchanging the contracts
Once all of the details have been agreed on, it is time to agree a convenient day for contracts to be exchanged and completion to take place. Between these two events, your conveyancing service will be busy performing any final searches and arranging the financial aspects of the transaction.
When it comes to choosing the right conveyancing company for your property transaction, it is essential that you choose a company with whom you feel comfortable since there must be a constant flow of communication between you and them and you must be confident that they will communicate in a timely manner and act in your best interests throughout.
Reach out to a conveyancing firm to learn more.
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