Why Do You Need Conveyancing Service and Solicitors?
Buying and selling of property entitles you to a lot of legal bindings and liabilities.
Whether you are buying a home to live, for investment, or for acquiring a lucrative asset, it is important to know that you have complete legal rights on that property and no one, but your very own conveyancing solicitors can guarantee you that.
Besides the seasoned property dealers, the task of acquiring or selling a house is a daunting one for most people who are engaged in the process for the very first time.
There is no doubt that a lot of time, effort and resources get involved in the dealings.
If one is cheated in one such transaction, chances are that the person would be well on his way to bankruptcy.
Though hiring conveyancing services might seem extravagant for some, when you consider the alternative, this route is found to be safer and helps remove most problems from your path.
If you are still in two minds about whether or not you need conveyancing solicitors, it is important to know what is it that they do! First and foremost, you must know that the process of conveyancing is applicable whether you are buying or selling your house.
The first step of the process is agreement of sale.
Once a mutual agreement has been established, your solicitor will obtain your title deeds and ask you to fill in a detailed questionnaire.
Once that is done, he will, then, prepare and send out a package of legal information as well as a contract for sale.
Then, he will ask for an appropriate mortgage settlement figure and any other secured loans in question.
He would then negotiate with the party on a tentative date on which they would like to close the deal.
The next step in the process includes the steps that are taken after the contracts have been exchanged.
At this point conveyance solicitors will receive the down payment from the party.
After that, they will prepare a final settlement and organise the final accounts.
Then they will collect any balance of funds, if required, approve the deed transfer and arrange for you to sign it.
This leaves only the final steps of paying off the mortgage, notifying the HM Land Registry and handing over the deeds and balance amount (if any) to you.
The great thing about availing conveyancing services is that you get a clear idea about what is happening at every step of the process and hence you need not be in the dark.