As soon as you plan to buy your dream house, a lot of questions start rolling into your mind because investing in a property involves a huge amount of money. You cannot start living in a house you have chosen by just paying its cost, as done when buying different commodity from the market. It involves some lengthy and daunting legal transaction between the buyer and seller of the house. If you are into the real estate business then the job will be easy for you but if you are a layman then surely you will need an experts help.
While dealing with the procedure, one common statement that you will come across is the word conveyancing. Some of you must have heard this for the first and might be a bit confused. Conveyancing means passing the legal rights of the property to another person, means from buyer to the seller or vice versa. The meaning of the word may sound very simple but the deed prepared to transfer the rights has some clause which has to be minutely read and understood. If you are not experienced then surely you will miss out on some important points, which might be costly and here comes the role of a solicitor.
There are many online companies that provide conveyancing solicitor service. The companies help in buying and selling properties. They ensure that the procedure is smooth and in lieu charge an amount as fee. Before selecting an expert for real estate investment you can ask them to provide online conveyancing quote. Usually the conveyancing quotes include charges for sale, purchase, combined sale, and remortgage services.
The conveyancing quote usually has a legal fee, an amount paid to the expert or specialist lawyer who looks after all the buying and selling procedure. This amount may vary, depending on the cost of the property because the more the cost, the more is the responsibility. Then comes a mortgage fee, this is to make sure that all the charges on the property are released before handing it to the other party. A leasehold transaction fee is also charged by the conveyancing company. This is charged for handling the queries which might arise from the other side. Some companies also charge some additional fees, which depends on the situation which might arise while dealing with the transaction. Make sure to ask about the cases where the company might charge additional fees and how much.
Disbursement means extra expenditure made while selling or buying property. The conveyancing companies charge the amount separately. Usually these kinds of fees are charged for identifying the two parties, buyer and seller and make sure that they are genuine and there is no money laundering involved. Disbursement is also charged for getting a copy of plan or registry papers from the government office. Fee charged for these kinds of services are usually nominal but you must ask them the percentage before assigning the job.
Kirti S is a web enthusiast and a writer. Kirti has afforded his articles and write-ups autonomously and through various online forums.
Latest posts by KirtiSaxena (see all)
- Benefits of Using Microfiber Materials for Cleaning - February 4, 2014
- What is Microfiber and Why Does it out Perform Cotton? - February 4, 2014
- What is Microfiber and Why Does it out Perform Cotton? - January 28, 2014