Essentially, conveyancing is the term used to describe the transference of ownership of property. Using the conveyance lawyers wealth and knowledge, they are able to help guide you through the process of both buying and selling a property. If you choose to not use a conveyance lawyer, then certain issues might be present without you knowing. Buying or selling a property can be a complicated and daunting process, that’s where conveyancers can be used to sort out the intricate details whilst making the process easier for yourself. At Trent Law, our highly experienced team of property conveyance lawyers can offer a number of services to ensure the legalities surrounding the purchasing or selling of a property is all in order.
So what are the services that conveyance solicitors can offer? See this handy guide to find out more!
Mortgages and Purchasing the Property
A conveyance solicitor can help with both the mortgage and purchasing of a house. Although you are able to do the legal work when you buy a house, it is much safer to hire a professional to assist you. If you are buying a house, the solicitor will undertake actions such as; requesting copies of the title deeds from the seller’s solicitors and arranging for contracts to be exchanged. In some instances, the mortgage lender might require you to use an expert. When helping to sort mortgages, conveyancers communicate with your mortgage company and the seller’s solicitor to deal with the legal documents regarding the transfer ownership. After all paperwork has been completed, conveyance solicitors will help to register you as the new owner of the property.
In addition to this, they also investigate whether there are any issues with the property and the area itself. They do this by checking building work in the local area, as well as speaking to the Environment Agency and other companies to try to identify any problems that could impact your home. For instance, if your property is built over a sewer, then the water board might have to make adjustments to your home so they can actually access the sewer. Another example could be discovering that the land on which your house is built is a lease that’s due to expire. It is therefore imperative that you identify these problems before actually purchasing the house.
As well as helping with the mortgage and purchasing of a house, the conveyancing process also describes the legal work required to complete the transaction of switching from one mortgage supplier to another. Whether you’re remortgaging to get a better deal, to borrow more money or because your personal circumstances have changed, solicitors are there to help you with the process. A solicitor will be highly experienced when it comes to the finer points of a remortgage, meaning their help can maximise the chances of your mortgage being accepted. The services that solicitors provide when it comes to remortgage involve assessing the details of your current mortgage and carrying out all the necessary checks surrounding areas like the valuation of your property and your current leasehold agreement.
Property Conveyancing & Selling the Property
If you are selling a property, the conveyancer’s role is to provide evidence to the buyer’s solicitor. As the seller, it is your responsibility to present the buyer with as much information as possible about the property. Some of the tasks that a solicitor completes might include:
● Drafting the contract - the solicitor helps to create the initial legal contract and sends it to the buyer’s solicitor. Without having a solicitor, then the risk of creating an inadequate legal document is more likely. Therefore the role of the solicitor is to ensure the correct documents are sent over. As a result of this, you can be confident that the application you send off has the greatest chance of being accepted which means you can sell the property quicker.
● Answering any queries - after the draft contract, legal title and the property documents have been sent over, then the selling solicitor must respond to any questions from the buyer’s solicitor. This part of the process can usually lead to delays in your sale, so it’s important to have a professional to answer any queries that the buyer’s solicitor may have.
● Providing further evidence - if the buyer’s solicitor has an enquiry that cannot be easily evidenced, the conveyancing lawyer’s role is to investigate and supply further information.
Considering there is a lot of money involved when a property is changing hands, it is important to ensure that you are following the correct process. At Trent Law, our highly-trained conveyancing solicitors have the ability to help you with the sale of your property. Our qualified team of solicitors are more than happy to undertake the house conveyancing process from start to finish.
Differences Between Commercial and Residential Conveyancing
On the surface, it might seem that the residential and commercial conveyancing process is the same but there are in fact differences. It is likely that if you’re a residential client, you might be new to the world of property and therefore could be confused by legal jargon and contracts. Residential conveyancing solicitors can step in to offer their support and advice when it comes to the details surrounding mortgages and shared ownership purchases.
As part of the residential conveyancing process, the lawyer will also contact the seller’s solicitor to obtain the contract and carry out necessary searches and check the contract closely. When it comes to the final stages, the solicitor will also prepare a completion statement, send a stamp duty and register the property with the buyer’s name.
For commercial clients, conveyancing solicitors will investigate the property title, negotiate the draft contracts and also deal with the deposit payment. The primary difference between commercial and residential conveyancing is the need for a commercial lease. This is arranged between your solicitor and the property’s landlord, which gives permission to operate a business from the premises.
Benefits of Using a Conveyance Lawyer
Perhaps one of the main benefits of using a conveyancing lawyer is that they are experienced within that field. As stated previously, most mortgage lenders demand that a professional conveyancer or solicitor be involved. Going through the conveyancing process without legal advice is risky. Failing to recognise a defect in the home or incorrectly transferring ownership can lead to you being sued by other people in the chain. It is therefore imperative that you use an experienced solicitor to guide you through the process. Considering that solicitors deal with legal processes every day, they know exactly how to deal with certain situations to get the best results.
Whether you are selling or purchasing a property, having professional and knowledgeable advice from a solicitor will help you to make the right decisions. Particularly if you’re a first-time buyer or trying to get onto the property ladder, you might not be informed on a large part of the process. So if you are unsure about any aspect of the legal process, the solicitor can help to explain this. Whilst legal advice helps you massively when it comes to complex paperwork, it also protects you from any issues arising in the future too!
Smoother Selling Process
Considering that legal processes can be convoluted in terms of terminology and obligations, this means that the selling process can be held up. Instead, having an experienced solicitor to direct you through the procedure will ensure the process is completed in a smooth and easy manner.
Find the Best Conveyance Solicitor with Trent Law
This brief guide may have just pointed out how intricate the legal process can be surrounding purchasing, selling and remortgaging of a property. No matter what legal process you are in, you need to ensure that you are making the right decision at every step. At Trent Law, our property conveyance solicitors can give you the best advice when you need it the most. We fully understand it can be a stressful time, that’s why our highly-trained team of conveyancing solicitors can help undertake the process from start to finish. If you are convinced that Trent Law is the right company for you, get in touch with our team today!