Conveyancing is an important part of the home buying process, and it’s important to note it’s required when both buying and selling a property.
So what should you consider when choosing a property solicitor to carry out your conveyancing? It’s important to use a qualified property solicitor who’ll be able to take care of a range of issues on your behalf, including:
• Dealing with the land registry
• Carrying out searches
• Managing Stamp Duty
• Collecting and transferring funds
Cheapest isn’t necessarily best
Solicitors charge for their time in different ways. Whilst some may offer a fixed fee, others will charge a percentage of the value of the property, so shopping around is a key factor to consider. Additional costs such as postage and VAT may be treated as disbursements, and therefore they’ll be added to any original quote, so you should clarify how this is handled when you first enquire. If a solicitor has been recommended by a family member or friend who’s used them before, this can be a good indicator of a good service.
Online or DIY conveyancing?
There’s been a rise in recent years of online-only conveyancers who offer you the chance to track the progress of your case online at a time that suits you. You can also choose to do conveyancing yourself, and this can help keep costs down. However, you should proceed with caution because if any searches and other formal legal procedures are not done properly, or not completed at all, this can cause major problems. If you use a professional conveyancer, you may be covered by their insurance for some of the things that could go wrong.
You should make sure that the solicitor or firm you choose takes the time to explain everything to you, and that they’re available to answer any questions you might have about the process.
Your property may be repossessed if you do not keep up repayments on your mortgage