Everything You Need to Know about Conveyancing and How it Can Help Sell My House
When you are looking to sell my house , you must go through a legal process known as conveyancing. This is the name given to the transfer of legal title in property from one person or party to another. Whether you are selling, buying, or remortgaging, it’s important to understand what conveyancing entails so that your real estate transaction is successful.
What Does a Conveyancer Do?
A conveyancer will be responsible for completing all the legal aspects of the transaction. They should have experience of dealing with this type of work, and they will often be qualified solicitors. For conveyancing, they will review title deeds and contracts, research local searches, manage funds to complete the transaction, prepare stamp duty return forms, register transfers with the Land Registry, and contact other parties or third parties involved in the sale. Once the paperwork is complete and both buyer and seller have signed all the relevant documents, it means the transaction has been successful.
Main Benefits of Using a Conveyancer
The most significant benefit of using a qualified conveyancer is that they are able to provide expert advice on a wide range of matters. They will ensure you have the correct documents for the sale, clarify any complicated legal terms, and help protect against any possible liabilities. A conveyancer can also help save you time by undertaking much of the paperwork needed to complete the transaction. In other words, if you are selling my house and deciding between a conveyancer versus a solicitor, the former is usually the best option.
Conveyancing Fees
The cost of hiring a conveyancer can depend largely on the complexity of the transaction, but most people will pay an average fee of around £500-£1,000 including VAT. Some conveyancers may charge an hourly rate, which will add up to a higher total, while some may quote a fixed fee. It’s sensible to shop around and compare quotes before committing to one conveyancer, and remember to ask what services are included in their fee structure.
Conveyancing Timings
Once you have hired a conveyancer and the agreement is in place, it’s usually possible to complete the transaction within two weeks if everything proceeds smoothly. Complex issues such as boundary disputes or financial problems can slow down the process, but it’s much less common for transactions to take longer than four weeks. Remember that having experienced and knowledgeable conveyancers doesn’t just help save time, but it can also help to reduce the risk of any delays.
Preparing for Conveyancing
When preparing for conveyancing, it’s important to ensure that all the correct paperwork is in order. If you are the current owner of the house you’re selling, make sure your title deeds and mortgage documents are up to date. You may also need to get a certificate of occupancy or land surveyor plans if they haven’t already been provided. Having all this information ready ahead of time can speed up the conveyancing process significantly.
Conveyancing in Other Legal Processes
In addition to helping with sales and purchases, conveyancing can also be useful during remortgaging and transferring ownership of a property. When a borrower wants to remortgage their house, the lender normally requires detailed legal titles to confirm their position. Similarly, if you are transferring ownership of a house to a family member, or into a trust, then a conveyancer can carry out the necessary checks and documentation.
Seeking Professional Advice
When you’re looking to sell my house, it pays to seek appropriate professional advice and guidance. Not only does this help you to understand the legal processes involved, but it can also ensure your interests are protected. An experienced conveyancer will be aware of all the details required and the necessary steps to take, so you can be confident that your real estate transaction will proceed smoothly.
