As a property buyer it may not seem essential for you to learn the basics of conveyancing. However, learning a few facts can only help you in understanding the process bit more clearly and lets you make better decision when it comes to buying or selling a property.
Conveyancing is essentially a legal task. Although, contemporary laws allow the buyer or seller to act as their conveyancers if they prefer but it is highly advisable to use the service of a professional conveyancing solicitor for the task as they are aware of nitty-gritty as involved in the whole process.
Solicitors practicing conveyancing are expert in property laws and licensed and registered with conveyancer’s association.
Conveyancers would ensure that fair transfer takes place during property transaction. Around the globe there are many firms that offer conveyancing solutions at very affordable rates. The buyer and the seller would respectively hire their conveyancer. The legal process of conveyancing start with signing of contract with the firm and lasts till the process is closed and title rights shift from seller to buyer.
Conveyancing takes time. Normally three months time is allotted for the process to complete but at times it may take longer depending on complexities involved in the process. It requires all the parties involved in the process to agree upon the terms and conditions of the property deed.
Conveyancing experts would undertake tasks like property inspection, title inspection, drafting property deed, producing conveyancers report, preparing documents for mortgage lender and advising buyers on legal aspects of property deeds. He would act as a representative of his client – taking and executing his instructions. Parties often involved in property dealing prefer services of professional conveyancing experts because it is discreet.
The total process of conveyancing that would complete with parties agreeing upon and signing contract and transfer of title to buyer may take three months to get completed. Many conveyancing firms nowadays allows clients to follow progress of their cases on firm’s website.
Charges for conveyancing may vary significantly depending on property size, location and time. Conveyancers generally bill their clients by three ways – hourly, fixed or a percentage of the total sell value. Amongst these, fixed rate is more preferred by clients. However, one is advised to ask the conveyancer to be upfront with his charges to avoid any element of surprise later on. Some specialized conveyancing law firms might sign a no-completion-no-payment agreement with you and may only charge once the title transfer is successfully accomplished.
Some conveyancing firms are cheap and some are expensive depending on specialized services offered, reputation, experience, locality etc. Searching around would help you find a conveyancing service according to your budget.
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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