property conveyancing

Most people consider property conveyancing quotes to be extremely complex and covered in mystery, and while there are very serious implications attached to a conveyancing transaction it really is very straightforward process of transferring property rights from one party to another usually from a seller to a buyer.

It is advisable when carrying out a property conveyancing transaction that you consult a conveyancing solicitor or a conveyancer. Estate Agents and Mortgage brokers are essentially agents in the transaction however they are not qualified to look after your legal interests in the transaction neither are they able to protect the rights and interests of all parties to the transaction.

Another important party to property conveyancing transaction is also the mortgage lender whether that is in relation to providing a percentage (usually the vast majority) of the purchase funds or in the case of a sale the recipient of the redemption funds to discharge the existing mortgage on a property. In such cases regarding the conveyancing transaction a solicitor or conveyancer will understand the necessary requirements and the essentially steps to carry out.

At the start of the property conveyancing transaction once you chosen a solicitor they will provide you with an overview of the transaction and also advice you regarding their costs and the charges associated with the transaction. Then they will carry out important searches for example bankruptcy and priority searches in relation to the individual and property that a buyer is purchasing. In the case of a sale the solicitor would request that the seller provides as much information as possible in relation to the property its condition, any warranties and permissions in relation to building works and conversions these are essentially in order to ensure a smooth transaction.

Property conveyancing has various aspects however each of these are interrelated, you firstly need to find a cheap conveyancing quote.

The aspects of property conveyancing mentioned above relate to the pre contract stage of the transaction that is enquiries and searches carried out before the solicitors acting for the parties commit their clients to an exchange of contracts with a defining date for the completion of the transaction, here again it is essential that the solicitors are abreast of the sequence of the transaction ensuring that on the day of exchange of contracts and usual 10 per cent of the purchase funds they are able to effectively carry out the completion on the contract date.

Thereafter the exchange of contracts and completion in the property conveyancing will follow the post completion matters which will involve the preparation and exchange of paperwork and applications at the land registry and stamp duty applications and submissions where applicable.