Savas & Savage Personal Injury Solicitors
Conveyancing Guide: The Basics
Buying a house is a major financial commitment and it can often be a complicated and demanding process. It is therefore important to use a good solicitor or conveyancing lawyer to help you through the legal process.
Conveyancing is the branch of law that is concerned with the buying and selling of property, including land. It is the transfer of the legal title of property from one party to another. Conveyancing can include selling, buying, remortgaging and transferring equity of property. There are numerous complications that come with the selling and buying of property and thus it is important to use a good lawyer to ensure the process goes through as smoothly as possible.
It is the job of your solicitor or conveyancing lawyer to liaise with the solicitor of the other party to ensure the paperwork is in order to ensure the property is transferred in to or out of your name correctly.
Conveyancing is a complicated procedure which has to be followed meticulously with all paperwork completed and filed with the relevant authorities.
No. If you are taking out a mortgage, your lender will insist on a solicitor or conveyancing lawyer to carry out the legal work. There are many rules to be followed to ensure money laundering and property fraud does not occur and firms of solicitors are set up to comply with such rules. Even without a lender involved, there are many processes and checks to be carried out and a lay person simply does not have the legal authority to comply with all the rules and procedures.
If you are a buyer, your solicitor will need the address and price of the property, what is included in the sale, how you will be paying the purchase price and when you want to move in. If you are selling, your solicitor will need the deeds, contact details of your lender and the date you want to complete.
The conveyancing process on average takes 10-12 weeks to complete. The timescale, however, may vary depending on financial or legal factors. On the rare occasion where a buyer does not require a mortgage, the transaction can be completed a lot sooner.
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