The Work of Conveyancing Solicitors
What is conveyancing? This article explains the basics of the process of conveyancing.
If you are looking into buying a property you might have heard the term “Conveyancing” before, but perhaps you are not sure what it means. Here are a few answers to some of the questions that you might have about conveyancing:
What is Conveyancing?
Conveyancing refers to the branch of the law which is concerned with preparing documents for the transferring of property. A typical conveyancing transaction is the legal transfers of the title of property from one person to another, and you must go through this process when you are buying a property.
Who Can Do It?
In the UK, conveyancing is done by a specific conveyancing solicitor or a licensed conveyancer. It is also possible you to do your own conveyancing, but this is not recommended to those with no experience as the process can be somewhat complex and confusing. When you are choosing a conveyancing solicitor, make sure that you find someone who has plenty of experience.
How Does the Process Work?
The process of transferring property from one party to another begins with two qualified solicitors, one representing the seller of the property and one representing the buyer.
The buyer’s solicitor negotiates a price with the solicitor of the seller of the property. After the survey is conducted and the solicitor carries out their searches and enquiries, the seller’s solicitor will prepare a draft to be approved by the solicitor of the buyer. The solicitor who is serving the buyer will likely raise enquiries regarding the transaction about the property and the land which is being purchased. The solicitor of the buyer will also check with other parties in the area such as the local council to make sure that there are no planned future projects or other developments which will impact the land that is being sold. They might also ask a local environmental agency if there have been a history of flooding in the area of the property. Each conveyancing solicitor will have their own unique way and order of approaching the process.
Once the buyer’s solicitor is satisfied that everything is fine and that all paperwork is in order, they will ask for a confirmation from the buyer in order to proceed. Once the contracts have been signed by both buyer and seller, the sale is legally final.
How Long Does it Take?
The average conveyancing transaction will take around 10-12 weeks, but can take more or less time depending on the nature of the transaction. While the conveyancing process is underway, either party is legally free to pull out of the transaction for any reason without having any legal obligation to the other party.
Now that your questions about conveyancing have been answered, you can start looking for a conveyancing solicitor to help you with your home purchase today!