A compulsory but often stressful element of buying or selling property is the conveyancing. Conveyancing is the process of transferring ownership of property, and must be carried out by a qualified solicitor or dedicated licensed conveyancer.
Conveyancing covers the following:
- conducting vital searches with local authorities, utility companies and other relevant organisations to ensure there are no future plans or liabilities over the property, such as liability for local church repairs or proposed development next door
- telling you about any costs you will incur, such as stamp duty or chancel repair liability
- drafting and checking the legal contract for the purchase of the property – this contract will include details such as the agreed price, the property boundaries, any fixtures and fittings that are included in the sale, any planning restrictions that may apply, and so on
- making sure the mortgage lender has all the relevant information about the property
- administering the fees at the end of the transaction, such as estate agents’ commission and stamp duty
- informing the Land Registry of the property’s new owners.
With so many specialised tasks involved in conveyancing, it’s vital you choose a solicitor with the right skills and expertise to carry this out for you efficiently and correctly. This would usually be a solicitor who specialises in property law. A good way to find a solicitor can be to ask around locally for recommendations. You should also ask what the conveyancing fees will be before you instruct a solicitor or conveyancer. Make sure you understand and are happy with these before you begin.