Saturday, April 11, 2015 / by Steven Annth
When moving to a new home, you should be aware of the proper process required to transfer property from one person to another. In real estate transactions, this process is known as conveyancing and is necessary to complete a property sale. During this process, the title of the property is transferred from one person to another.
Conveyancing may also involve the process of moving water, electricity, gas or drainage services. In most instances, the process describes an exchange of contracts where both a legal title and equity title are transferred from one person to another. This process is completed to ensure that the buyer obtains a marketable title to the land or property.
This will allow the person to be able to buy and sell the property without a lien or other factors affecting the sale or re-sale. The legal process of conveyancing ensures that there are no restrictions on the land prior to purchase. Public records are often secured to verify that the title has no restrictions.
Why Should I Hire a Conveyancing Solicitor?
There are several different times when hiring a conveyancing solicitor is necessary. If you are divorcing and selling a home that is owned mutually by partners, a conveyancer is needed to draw up a contract. This contract will describe how the properly profits are to be split in accordance with the divorce proceedings. A conveyancer may also be needed if the property is not registered or if the property is not a freehold.
If you are buying property, real estate agents will recommend that first time buyers secure a conveyancing solicitor. In some instances, a conveyancer may be hired to devise a rental agreement to verify ownership and terms.
How to Find a Reputable Conveyancing Solicitor.
Finding a suitable conveyancing solicitor requires ample research. Referrals are a good way to find solicitors. Be certain to verify the recommendation source. Estate agents or letting agents may often recommend someone, however, they may receive referral fees. Therefore, clients have no way of knowing if the service is reputable or if the service is being recommended for profit. Some people are more conscientious and would only recommend someone that would do a good job.
Most conveyancers use industry jargon that is sometimes not understood by the typical homebuyer. Reputable conveyancing solicitors will cost more but will be able to explain the process in simple terms. Ensure that you understand your conveyancing solicitor. Build a rapport and verify that they are willing to explain the process.
How to Secure a Conveyancing Service.
Online quotes are available for people seeking conveyancing services. Finding a conveyancing solicitor online may be cheaper, because a company that operates fully on-line has less overheads than a company with a store front. Once you obtain the quotes, you can compare the services and the prices. Then, select the conveyancing solicitor that offers the best value. Often, clients are willing to pay more if they are receiving a better quality of service.
Buying a home is stressful enough. Let a conveyancing solicitor handle the rest of the process so that you can ensure that you obtain a home with a clear title. After the process is complete, you can relax and feel confident that your home is legally yours.