Legal\Conveyancing Service

What is Conveyancing?

You will need to appoint a solicitor or licensed conveyancer to oversee the Legal aspect of your transaction. The conveyancer or solicitor charges a legal fee for the service and takes care of the paper work on your behalf. They also ensure that everything is efficiently handled till completion, without any hassle or complications. Conveyancing is the act of preparing documents to facilitate a conyeyance (transfer) of property. Professionals who do this are known as either conveyancers, who are the specialist property lawyers or solicitors, and they form a vital part of the transaction. They use their expertise to keep the transaction moving, whilst advising you of any potential issues and if you haven't ever sold a home before or if you're not familiar with the process they can be an absolute boon. All land and property transfers must also be registered with the Land Registry, and it's the conveyancer's job to handle this paperwork and check local records to ensure that there isn't anything that will significantly impact a property valuation.

What do Conveyancers do?

Conveyancers are responsible for all documentation relating to the land transfer process. This starts with ensuring that the property has been correctly identified and ends with the exchange of contracts. Picture some conveyancers work closely with the estate agent to ensure transactions run smoothly. Many clients look for a swift and hassle-free transaction, and permit information to be shared between the lawyer and estate agent to facilitate this. In some modern systems, you can access the conveyancing system, agent's system and have real-time updates of the entire process – so you're never out of the loop. The estate first the conveyancer must receive your instruction to begin the process of conveyancing. Usually, you will receive a letter that details costs, typical fees and the terms of the engagement. The conveyancer will also check your identity (legally required for all UK property transactions). The conveyancer will agree a date at which to exchange contracts and a second date on which to complete. While you can conduct them on the same day, it makes sense to have them on different days so that you have time to arrange a moving service with the knowledge that you are protected by the contract. The conveyancer will also collect the stamp duty payable on the property and will send it to the HMRC, which collects it on the behalf of the government. The rate that you pay depends on whether this is your first property, the price of the property and whether you own any additional properties.

How long does the Conveyancing process take?

The conveyancing process takes anywhere between four weeks and 10 weeks, with six to eight weeks being typical, but it depends on how complex the transaction is. If a long chain is involved, all bets are off, as it depends on multiple conveyancers, solicitors and picture buyers and sellers being ready at the right time. Ultimately, choosing a good conveyancer ensures that the transaction process goes ahead as smoothly as possible. Communication is key and making sure you choose a conveyancer who is available to speak, keeps you informed and updated throughout. In many cases it also makes sense to choose a conveyancer who has worked before with your estate agent, allowing you to manage the whole process with minimal fuss and reducing the stress of moving home.

How do Conveyancers calculate fees?

Conveyancers usually calculate the first part of their fees based on the amount of work that they expect to carry out, as well as the total value of the property that they are dealing with. Once they have fixed their fee, they will also charge for: Disbursements (Necessary third party costs which are charged to you at cost ranging from £3 for a Land Registry document to up to £400 for the cost of local authority searches)Stamp duty (payable by the buyer depending on the price of the house and other considerations). Other fees as required (for example, more complicated tax affairs or the splitting of equity due to divorce). In some cases, you might want to consider a conveyancer with a No Sale, No Fee offering, so if your house sale or purchase does fall through, at least you don't have to pay the conveyancing fees. In addition, it pays to get a quote in advance for services, so that you know how much you're going to pay beforehand. Your chosen conveyancer should be flexible in how they communicate, whether it's by telephone, email or post, and they should make the process as pain-free as possible.