From surveyors and estate agents from mortgage lenders to estate agents and lawyers, you will find a variety of professionals you can communicate with when selling or buying an investment property. The purchase of a home is likely the biggest investment you’ll ever make, so it is essential to be aware of the roles that each individual plays in the sale process. If you begin the sale process without sufficient information, it could lead to confusion, delays and additional expenses. It is therefore wise to spend some time prior to the sale to be aware of the steps throughout the process.
If you’re working with estate agents as well as mortgage lenders, you’ll discover their roles pretty clear. They should each clarify the scope of their service and their responsibilities to you in advance. However, confusion can arise when you have to find an appropriate body to finish your legal requirements for the purchase since you can choose to choose between an agent for conveyancing or solicitor.
Conveyancers or conveyancing solicitors can be identical, however there are some differences between them.
Conveyancer or Conveyancing Solicitor
Is there a difference ? If there is, what’s the difference?
The majority of the time either a conveyancer or solicitor will finish a home sale on your behalf.
If you choose to go for a lawyer, make sure they’re a conveyancing solicitor (or the property lawyer) because there are a few solicitors who have been educated in the field of conveyancing, which refers to the formal procedure of transferring house from one proprietor to the next. A licensed conveyancer has been trained and certified exclusively to conveyancing and is an expert in the conveyancing process however, they are not an attorney.
It is important to note that a conveyancer isn’t in a position to conduct transactions, but only provide advice on other legal matters that might be raised in the course of selling. In this case you’ll need to seek the help of an experienced lawyer in the area.
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The main advantage of using the services of a conveyancing lawyer is the fact that they have been educated in all areas of legal services, with a particular focus in conveyancing. This means that they have a vast understanding of other legal procedures to utilize, in addition to the easy access to a vast collection of legal advice through their own professional networks and practices. This is a huge advantage in the complicated process of buying a home and the related issues that come up when purchasing a property.
If you are selling and buying a home simultaneously , it could make sense to employ the same conveyancing lawyer for both. While this isn’t legally required but it will aid in the process of communication to flow more efficiently. Utilizing a local company can be beneficial, for instance when you live in Essex Conveyancing solicitors located in Essex is familiar with the region where the property is.
Services covered by a Conveyancing Solicitor
A conveyancing lawyer will handle and manage all aspects of your property purchase or sale, however the three main stages are the following:
A conveyancing attorney can study the contract’s draft thoroughly and identify any areas that require further research. For example, if the property is leasehold or freehold.
There may be a myriad of negative issues that are not revealed when a home is offered for sale.
They could be due to the property being located on an area of floodplain, with limited planning permissions, or being within a conservation zone. The results of these investigations will place you in a good negotiating position, or at the very least let you think about the potential issues before you move forward with the sale.
Once the process is completed the conveyancing, your conveyancing attorney will complete the transaction by exchanging deeds, making payment of any stamp tax that is due on the property , and making sure that the transfer of ownership is recorded in the registry of land.