Government to introduce New Homes Ombudsman
The government announces a New Homes Ombudsman to protect consumer right...link
Conveyancing Solicitors.
Step by step guide to help you understand the process of Conveyancing and moving.
If you are in the process of buying, selling or re-mortgaging a property you probably need a conveyancer to oversee the legal requirements and ensure what is one of the most stressful events in your life, is as straight forward as possible.
We have put together a step by step guide to help you understand the process.
If you are unsure about a legal term that has been used refer to our Glossary of legal and Latin terms.
Instructing a conveyancer - do you need to?
The short answer is 'no', you can undertake the conveyancing yourself.
Conveyancing can be complicated that's why licensed conveyancers and conveyancing solicitors undertake years of training, are regulated and Insured.
A Licensed Conveyancer can only help with Property Law If any other legal problems arise you may need to call in a solicitor.
The vast majority of conveyancing transactions are carried out by solicitors in England and Wales.
If you are buying a property in Scotland you must seek Legal advice in Scotland as the conveyancing process is different.
Step by Step Guide to House Buying.
Conveyancing is the transfer of legal title from one party to another.
The points below cover the main stages you will go through when buying a home.
■ The first step is understanding what you can afford.
■ Speak to your mortgage provider to obtain a Mortgage Agreement in Principle.
■ Choose Your Home.
■ Hire a Solicitor or conveyancer.
■ Make an Offer.
■ Complete your mortgage application.
■ Have a Survey and Valuation Done.
■ Legal Work - your solicitor or conveyancer will give you through this.
■ It is recommended that you make provision for Life Assurance.
■ If you need to organise a removal company check availability.
■ Exchange Contracts.
■ Complete on the house purchase.
It's yours enjoy!
The conveyancing process can take any length of time depending on the complexity of the transaction or multiple property sales and purchases that may need to happen at the same time (referred to sometimes as 'a chain')
This conveyancing process will start when either you as a seller or buyer, agree on an offer price for the property.
Most people apply for a mortgage when they find a property, we recommend that you should speak to your mortgage provider or financial advisor when you start considering purchasing a property, they will be able to give you an indication as to the amount they can lend you and the costs, this is sometimes called an agreement in principle, this will put you in a strong position when buying and enable you to act quickly when you do find the property of your dreams.
Draft Contracts
Producing contracts forms an integral part of the conveyancing process this section explains the Draft Contracts that will need to be completed and exchange of contract.
Property Surveys
Once you have found the property you will need a Valuation/Survey undertaken on the property - you will have three choices - this section describes the choices available to you, if you are a cash buyer you will not need a survey but we strongly recommend that you have a survey in all cases.
Completion and Post Completion.
It is possible to exchange and complete simultaneously but we would recommend that you allow time to do those final checks - the utilities, removal men etc.
Upon completion as the buyer you will be given in advance a statement showing the balance payable, sometimes your mortgage company will pay your solicitor in advance the agreed funds sometimes you will have to wait....and wait....and well you get the picture, but the waiting is worth it once the mortgage company have paid the monies over the property is yours.
The whole transaction is now complete and you just have to find who has your keys now, the estate agent should know.
Post sale your conveyancer will register ownership with the Land Registry and organise the payment of stamp duty.
related news
Agricultural Law.
link
Aviation Law Solicitors.
This is a highly specialised area of the Law and covers both aircraft and their facilities as well as many other areas detailed here.
link
Charity Law Solicitors.
As a charity it is important to understand your legal obligations and rights, a Charity Law solicitor swill be able to help with this, find Charity Law Solicitors from Solicitors.com
link
Civil Liberties and Human Rights | Solicitors.com
Solicitors.com - if you are looking to take action under the Human Rights Act, understand your rights and how a solicitor can assist you.
link
Construction and Civil Engineering Law | Solicitors.com
link
Consumer Law, Consumer problems.
We have produced a few guides to help you but would recommend that you speak to a solicitor as all situations are different.
link
Education solicitors | Solicitors.com
link
Property Abroad.
If you are looking to buy a property abroad you will need expert legal advice, this section details services provided, and offers guidance on how to find a solicitor for your needs.
linkrecent articles
Flying Freehold
What is a Flying Freehold and should it matter?..
linkLifetime Mortgage.
Mortgages for life, may soon be an option...link
Property Surveys.
Understand the different Survey options available to you if you are buying a property...link
Government to introduce New Homes Ombudsman
The government announces a New Homes Ombudsman to protect consume..
linkUnderstand Conveyancing Quotes
When you look for a conveyancing solicitor to act for you we recommend that you contact a few to compare price, obviously price is not the only factor you look ..link
Landlord Solicitors - solicitors.com
Landlord Solicitors. Landlord solicitors will be able to advise Landlords and Letting Agents of residential property on all issues arising out of residential te..link
Selling a house, what do I need to declare?
As part of selling a house or flat in England and Wales you must make sure anyone buying is aware of problems with the property...link
Tenancy terms reviewed.
Minimum rental terms of three years could be introduced under new..
linkChoosing the right mortgage rate.
Fixed Rates and Discounted Rates on a Mortgage - One of the decisions you will make concerning your property, is what type of Mortgage you should choose, short ..link
Property Ownership.
Property Ownership - Tenants in Common or Joint Tenancy?
Buying a property with a friend or partner, is one of the most exciting things but, with a house purch..link
Guide to Restrictive Covenants.
Restrictive Covenants.
Restrictive Covenants on a property will affect what you can do with your property, and can be applied to private or commercial property..link
Is there anything wrong with this page? - any amendments will receive accreditation - email us link
Solicitors.com are not a firm of solicitors, and any content on the site should not be used in substitute for obtaining Legal advice from a solicitor regulated in the UK, Solicitors.com recommends that you contact a firm of solicitors to discuss your individual legal requirement. Whilst we strive to bring you accurate up to date content, all content on this site is not legal advice and is not guaranteed to be correct. Use of this site does not create a client relationship.
Information by area of law
Conveyancing Solicitors.
Step by step guide to help you understand the process of Conveyancing and moving.
link.jpg)
Criminal Solicitors.
We have put together a few guidance notes for your help with Criminal law matters, if you require a solicitors please use the search facility or ask a question.
link
Commercial law.
If you are looking for a commercial solicitor understand your options by contacting one of the 100s of commercial law firms on solicitors.com
link
Clinical or Medical Negligence Solicitors
If you are considering making a claim for Medical Negligence understand your rights and the process, find a medial compensation solicitor via solicitors.com.
link
Personal Injury Claims.
If you have suffered an injury and are looking to make an accident claim for compensation, understand how a personal injury Solicitors can help make you injury claim for you.
link
Debt Collection Solicitors.
The amount of money owing may dictate the route you take to reclaim your money, we recommend that you discuss your situation with a solicitor, or you can call the CAB on 08454 04 05 06.
link
Dental Negligence Solicitors
To undertake a dental negligence claim you must have sustained an injury or damage, as a result of the dental treatment understand the options available to you.
link
Family Law Solicitors.
Family Law Solicitors can help you resolve the problems which may arise in the break-up of relationships, including financial issues and matters concerning any children.
link
Motoring Offences Solicitors.
Will be able to assist on all areas of Motoring Law for Example Drink Driving, Dangerous Driving, Careless Driving, Totting Up, Speeding, Driving Without Insurance motor offences.
link
Will & Probate
Find a solicitor that can assist with wills, probate and estate planning in your area.
link