Anyone who has ever bought property, whether as a buy to let or as a permanent residency will know that there is a significant amount of paperwork which is required to be completed before the sale can be finalised.
The length of this process can vary, especially if there are any difficulties encountered surrounding the deeds of the property or due to the presence of any information held by the Land Registry - but nonetheless - it is a process that is required by law.
To help you understand this process better, we’ve compiled this guide which will detail all the steps that you need to be aware of.
What is Property Conveyancing?
Whenever a property is bought, sold or transferred from one person to another, there are a series of checks which need to be performed. These checks comprise of the compilation of legal and administrative paperwork which is designed to protect both parties and ensure that everything is above board.
The scope of these checks will include;
* Conducting searches with a range of organisations including the relevant local authority as well as utility companies.
* Liaising with planning departments to ensure that there are no plans for construction in the nearby area which could be detrimental to the value of the property.
* Whether the property is marked as a flood risk.
As soon as an offer has been made and accepted on a property, the conveyancing process starts and only completes when the final contracts have been signed and the required funds have been transferred.
Who Can Carry Out Conveyancing on My Behalf?
Anyone that is qualified to do so. This will typically be a licenced conveyancer, a solicitor or a lawyer who specialises in property. What you might find is that qualification to carry out such work doesn’t always amount to having the required experience in doing so.
For this reason, your mortgage lender will sometimes require you to seek conveyancing services from an approved list of providers which will be presented to you. When buying a residential property, always seek out a solicitor experienced in residential property transactions rather than commercial property solicitors.
The Costs Involved in Conveyancing
The costs will vary depending on the amount of work required but the average figure across the UK is around £850 per transaction. This figure will include the conveyancers time spent on your case as well as any fees associated with conducting the searches required for the property.
It should be stated that the fee you pay for this service is at risk of being lost if the sale falls through which is why we suggest making use of a no completion, no fee service if possible.
Property Conveyancing in Nottingham and Loughborough
Hawley and Rodgers possess the required experience and expertise to ensure that your next property transaction is completed as smoothly as possible. If you’re looking for commercial law solicitors who can provide professional conveyancing services on your behalf in Nottingham, Loughborough and the surrounding areas, speak to a member of our team today by calling us on either 0115 955 9000 or 01509 230 333 or by sending us an email to enquiries@hawleyandrodgers.com.
