Most people who have thought about buying or selling a property have heard the term 'conveyancing', but they don't always have a clear idea of what exactly conveyancing is or why they need the services of a conveyancing company.
What exactly is conveyancing?
If you want to buy or sell your home, buy-to-let, remortgage or simply extend the lease on a property then conveyancing will probably be involved. When it comes to buying a property, the conveyancing work will begin once your offer on the property has been accepted. It will involve creating and checking contracts, working with the land registry, liaising with the mortgage lender, and transferring money between the buyer and the seller. The job of the conveyancing service is finally completed once you receive the keys to your new home.
If you are selling a property then you will use conveyancing services to provide the buyer with all the information they need. They will need to know about any structural work you have had carried out on the property, whether you have made changes to the plumbing or electrical systems, and whether you can demonstrate that any work that has been carried out has been completed by qualified professionals. All of the information you provide will be used by your conveyancer to finalise the sale with the buyer and to complete the legal contract.
Solicitor or conveyancer: What's the difference?
One question that frequently emerges when discussing property sales is whether you should employ a solicitor or a conveyancer to act for you. It's true that all solicitors are qualified to offer conveyancing services and you could choose a solicitor to undertake all the work you need, but it is important to understand that not all solicitors choose to specialize in conveyancing. If you want to be sure that your property transaction is getting the attention it deserves from someone with the right experience, then choosing a specialist conveyancer or a solicitor with a good understanding of property law who specialises in conveyancing would be a sensible decision.
What happens if the sale falls through?
Property sales are not always straightforward, and there are times that a purchase or sale doesn't make it to completion. If you make the wrong choice of conveyancer then a failed purchase could leave you with substantial bills. To avoid unexpected bills, it is best to look for a conveyancer who is able to offer you a 'no-move, no-fee' arrangement so that you only pay once you are sure that the sale has completed.