When you buy or sell immovable property, the ownership needs to move from the seller to the buyer. The legal document, also referred to as the title deed, conveys the transfer and the term conveyancing refers to all the legal formalities associated with the transfer of title. Though there is no bar on anybody else on performing conveyancing, usually solicitors or licensed conveyancers perform this task as the legal aspects can sometimes be really complex. Since property sale and purchase are usually back to back transactions, it typically requires a great degree of skilled project management and conveyancing experience to enable a successful and smooth completion of property transfer.
What Can You Expect from a Property Conveyancer?
If you are selling your property, a property conveyancer will take charge of preparation of the sale contract, including the necessary certificates, and will arrange for submission of the contract to the client and the agent. He will also participate in the negotiations with the conveyancers representing the purchaser and organize the settlement. If you are purchasing a property, then the conveyancer appointed by you has the responsibility of explaining the details of the contract drawn up by the seller, negotiate amendments on your behalf, discuss the property report, exchange the contracts as well as clarify the details of the mortgage documents, and organize the settlement.
Don’t Deal With Novices
Since the entire process can be really complicated, it is advisable to choose conveyancers who are specialists and are conversant with all aspects of law relating to property. The most important reason why most people prefer to engage licensed solicitors or conveyancers is because they want that everything should be right and legally watertight so that there is no scope for any disputes later on. The fees charged by solicitors and conveyancers depend a lot on their credentials as well as nature and value of the property, and complications involved. Do a detailed research on the Internet and obtain as many online conveyancing quotes as you can so that you can to get a fair idea of the charges.
Choosing the Right Solicitor or Conveyancer
The first thing you should take into account is the experience and competence of the solicitor in question because you should ideally deal with only those who are fully qualified in aspects of property law and also have substantial experience. Do not be shy of asking for testimonials and proof of credentials. Find out if they are ready to give references with whom you can have a chat to establish their quality of service. Ensure that you verify that they are licensed as otherwise your title transfer could run into great problems. Also make sure that the conveyancer has a full cover of professional indemnity insurance so that you are fully protected from any mistakes or misdemeanors on his part.
Approachability and Affordability
You should only deal with solicitors who are approachable and stay focused on helping you out with whatever concerns that you might have rather just be concerned with minting money from their clients. Your appointed conveyancer should be responsible enough to return your calls and reply to any email sent by you so that you can be completely free of the stress of continually chasing your solicitor. One of the most important factors that play a part is of course cost. Remember the most expensive ones are not necessarily the best. Try and locate somebody competent who will not charge you by the hour but a flat fee and is ready to provide a detailed breakup of costs. Insist that all costs be divulged and there should be nothing hidden that can give you a nasty surprise. It may be possible to get a fair amount of cost savings by dealing with solicitors who have tapped the power of the Internet to exchange documents online for faster transmission and cost-efficiency. Generally these conveyancers are also better at keeping their clients updated about the status of their case as they tend to be more IT savvy and have automated their updates with any of the several smart computer applications available.