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Property Conveyancing
Property conveyancing is the means by which the transfer of title of ownership of a property is made from one person to another.
There are 3 main steps taken in the typical conveyancing transaction:
• Pre-exchange
• The time between exchange and completion
• Post completion
During the Pre-exchange the solicitor has to check the identity of the client, carry out money laundering checks, get the terms of business agreed and signed, if it is a sale they also need to obtain title information, prepare the response to pre-contract enquiries from the purchaser's solicitor and prepare the contract or if it is about a purchase they need to check the contract received from the other side, consider the replies to pre-contract enquiries, obtain the necessary searches or purchase a title indemnity insurance policy, and if there is a mortgage receive and check the mortgage offer and provide a report to the client.
At the second stage, the time between exchange and completion, the solicitor should: send the report on title to the lender, make sure the mortgage money and any money required from the client is received in time for completion, carry out Land Registry and Land Charges Registry searches, obtain bills from third parties such as estate agents , send the bill to the client and getting it paid before completion and last but not least, complete the transaction(s).
Finally, the post completion involves making sure that everyone who should be paid is in fact paid and that the registration of the title at the Land Registry is done.
And as in every law related matter, there's usually a cost associated with the process of property conveyancing.
Some of this cost is fixed, and unavoidable such as the VAT, the Land Registry Fee and the Land Registry Search Fee. And you also have the Disbursements in which sometimes you might find some fees and charges which are a bit of a con, so keep your eyes open for trouble!
The good news is that the "legal fee" part of your costs is totally variable. Some solicitors charge more than others. But an expensive solicitor doesn't always mean a quality service! How many times have you paid over the odds for things and you weren't satisfied with what you got?
At AgentQuote.co.uk we let you instantly compare the legal fees of many solicitors, so that you can get a great deal. We offer cheap, experienced, professional and efficient solicitors which might do more than ensure that the process goes smooth! They might even manage to pass some savings onto you!
The results are shown in a convenient comparison grid, and you won't be asked for any personal details before being shown your quote.
Conveyancing is conveyancing. Why pay more than you need to? Get a quote from us now. You won't be disappointed.
