What first time home buyers must know about conveyancing

The journey of a first time home buyer is never easy. The initial excitement of owning a home soon fades out and gets replaced with mind boggling amount of complexities. Beginning with the search to finding the right size property and till the time one settles down, property buying is an overwhelming and complex journey with lots of legalities involved.  First time home buyers would come across many new things during their home buying process and conveyancing is one of them.

Property conveyancing, by definition, is a specialist’s job that involves taking care of legal aspects of property dealing and title transfer. Property conveyancers offer specialized services to both buyers and sellers in helping them agreeing on mutually beneficial terms.

Conveyancing services often rendered by licensed conveyancer or solicitors experts in property laws and legalities. Some large conveyancing firm offer countrywide conveyancing solutions to the clients.

Conveyancing lawyers can be appointed by both buyer and seller or by any one party to protect their interest during the deal. Property related transactions can be pretty daunting and therefore, a first time buyer would be better off with an experienced conveyancer.

The conveyancer would see through the process so that no hitches arise during the deal and the buyer receives a clean title of ownership. Conveyancing solicitor would prepare reports asked by mortgage lender and also help with registering the mortgage bond.

Property conveyancer plays a very important role in the whole business. The main tasks undertaken by a conveyancer are listed as below.

  • Conducting title search on the property to establish marketability of the title.
  • In terms of encumbrance, the conveyancer would check property history and restrictions, if any, imposed on it.
  • Drafting property sell contract in tandem with buyer’s or seller’s requirements.
  • Advising buyer on the duties and taxes need to be paid.
  • Processing all legal documents associated with title transfer.
  • Informing mortgage lender accordingly when the terms and conditions are agreed upon by buyers and sellers.
  • Facilitating payment procedure and bank payment on behalf of the client.

Experienced conveyancers certainly worth their fees, which can be hourly basis or fixed rate, however, online searches would give you a fair idea about fees charged by conveyancers in your area. You must also be aware that often conveyancer attorney fees are paid by the buyer since a seller is often at more risk than a buyer in property transaction.

A normal process of conveyancing would take around three months of time to be completed. But sometime it may take longer depending on the different complications associated with the property dealings.

Get more information on: Conveyancing services & countrywide conveyancing

Kirti S is a web enthusiast and a writer. Kirti has afforded his articles and write-ups autonomously and through various online forums.

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