It’s tempting to think you can deal with buying a property by yourself. Surely it’s just a case of filling in a few forms, right? Wrong. A conveyancing solicitor London oversees the legal process of a sale and purchase and ensures that lawful ownership of a property is legally transferred from once person to another.
But what does a conveyancer do?
Below is an overview of the main services you can expect to receive from your conveyancing solicitor:
- Searches — your conveyancing solicitor will carry out checks with the Local Authority, and other parties to find out if there are any environmental issues or building controls you should be aware about.
- Enquires — your conveyancing solicitor will raise any necessary enquiries with the seller’s solicitor to make sure that they have all the information they need to legally transfer the property into your name. This will also help you in future if you want to sell the property on.
- Bank transfers — to make sure the purchase funds reach the correct accounts, your conveyancing solicitor will set about the transfer, which incurs a bank charge.
- Fraud checks — as you know, transferring money can be particularly risky. But the risks are reduced significantly by your solicitor verifying the legitimacy of the other party and your identity.
- Stamp Duty Land Tax — your conveyancing solicitor can ensure you pay the correct amount by calculating the sum due based on the property’s purchase price.
- Land Registry — your conveyancing solicitor registers the property with the Land Registry and obtains the new title deed for you. This is the document which shows the legal ownership of a property.
How long does conveyancing take?
If you are purchasing a property as a chain-free buyer, the process can take as little as 4 weeks. But it can depend on the type of property being bought; leasehold flats tend to take longer than freehold houses, for example.
Additionally, searches can take longer if there is a concern about the property or the land it is built upon. It is probably more realistic to factor in at least 6-10 weeks for chain-free purchases, if everything runs smoothly. And it is wise to give yourself at least six months to buy a house in a property chain.
Finding a good solicitor
Probably, the fastest way to find a conveyancing solicitor is to search online. The Law Society also has a searchable database which can help you find solicitors nearest to you, as well as providing details of their accreditations.
Your estate agent may also be able to recommend a conveyancing solicitor, however, you should exercise care here, as the estate agent often receives an introduction fee for the referral.
Whoever you decide to use to help in your search, it is sensible to obtain a range of quotes to make sure you’re not paying over the odds. It is always better to be cautious, because getting the right professional on board can save you time, money, and sleepless nights in the long run.
Conveyancing solicitor London is a feature post