Are you thinking about selling your home? There’s a fair few financial aspects to think about. The question we get asked the most is, “why do I need a conveyancer?” Well, put simply, a conveyancer or conveyancing solicitor handles the legal work that relates to the transfer of ownership from you to your buyer. They play a key role in the part of your property sale and ensure that the process is as easy and stress-free as possible.
What Does a Conveyancer or Conveyancing Solicitor Do?
Conveyancing is an 11 stage process of transferring the ownership of a property to another person. Their tasks will typically include reviewing all the legal documents and undertaking the environmental and local authority searches, such as checking for planning permission and flood risks. They will also check over contracts that a buyer’s conveyancer has drafted, maintain contact with a mortgage lender and register a new property owner with the Land Registry.
What’s The Difference Between a Conveyancer and Conveyancing Solicitor?
Whether you use a conveyancing solicitor or licenced conveyancer, the process is pretty much exactly the same. Both types of professionals are regulated and insured to carry out this specialist area of work. Licenced conveyancers are property specialists who only work within this field. They cover what we previously discussed, which is the transferring of property ownership. However, conveyancing solicitors are fully qualified and whilst they may be experienced in conveyancing, they’ll also be qualified in the other areas of the law too.
Should I Choose a Conveyancer or a Conveyancing Solicitor?
If you’re looking to save a bit of money, conveyancers are generally less expensive than solicitors and can handle the vast majority of transactions. As solicitors often work within different legal areas, they may be required to attend court for other clients, which can sometimes make them harder to get hold of when you need them.
However, you may wish to opt for a solicitor if you think your transaction will be complicated or if there’s a dispute over a boundary line. In this situation, more comprehensive knowledge of the law will be needed, so we recommend a solicitor.
What Else is Worth Considering?
If you’re buying a new home and funding it with a mortgage, you should be aware that some lenders only deal with conveyancing and solicitors that are on their own panel. But, if you do want to use someone of your own choice, you’ll simply pay a fee.
As well as finding out these fees, it’s a very good idea to find out as much as you can about a conveyancer or solicitor, including how they work. Some firms have their own online system too, which means you can check the progress of your transaction whenever you want.
Can The Conveyancing Process Go Wrong?
Most property transactions go through with relatively little stress or fuss. But, these transactions are complex, and sometimes things can go wrong (although this is a rarity). From issues with a survey being completed to a buyer changing their offer during the late-stage or pulling out completely, these setbacks can cost you a lot of money and stress.
If you’re looking to sell your home, you must enlist the expertise of a conveyancer or conveyancing solicitor if you want the process to be smooth. Surprisingly, many homeowners still try to handle the conveyancing process themselves and imagine how that ended up for them. Yes, not good at all and lots of money wasted.
The best thing you can do is do a few searches online to see which professionals are in your area and then read through their testimonials to get an idea of their levels of service. This is important information that can help you decide who should handle your property transaction.
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