Conveyancing solicitors play a vital role in your home buying process
Are you planning to sell or buy property? Buying or selling property in the UK is a very tedious process involving complex legal paperwork. Conveyancing is a way out to smoothly acquire or sell your property without facing any legal hassles. Conveyancing solicitors play a vital role in acquiring your new home, in fact they are the ones who handle the entire legal work for you and help in closing the deal. This process is nothing, but legal transfer of property from seller to the buyer. It may seem simpler, but there is a lot of paper work and legal formalities involved in the transaction which takes almost 10 to 12 weeks to complete. So if you have already decided to sell or buy any property, hire a fully licensed solicitor to speed up the process with duly submission of all the documents.
Conveyancing process takes place in many stages with two parties and their legal solicitors. One is the buying party and their attorney other is the selling party with their respective attorney. Major part of communication takes place between these two solicitors on behalf of their respective clients. First stage involves the buyer party finalizing the desired property to be brought and settling the price, this stage completes with signing of pre-contractual agreement. This agreement will give entire details of the property and the final quoted prices from the seller’s solicitor. Next, the buyer’s conveyancing solicitor will conduct a legal survey of the property and verify all the legal documents provided from seller party. After successful verification of the ownership rights of the seller, the buyer is asked to submit the first installment of the entire payment. Now the seller’s attorney will give a completion date of the deal and the date when the buyer needs to submit the entire amount to the seller party is finalized. On this date the buyer party will also get the keys of the apartment or the property. With the successful exchange of final contracts, it is time to rejoice as the buyer is now the legal owner of the said property.
Although the deal is completed, the conveyancing solicitor’s role doesn’t end here. He needs to complete the post sale formalities like land registration and stamp duty process. After completion of these processes, the deal is said to be successful and the buyer gets all the legal rights on the property. Property conveyancing solicitors play a very important role in the entire transaction making it feasible for both the parties to complete the deal.
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