Conveyancing involves the legal processes undertaken during the purchase or sale of a property. Due to its complexity, it is not something you can do by yourself. Thus, you need the help of a professional conveyancer proficient in the processes. They will assist you in financial matters, searches, tax adjustments, document verification, and zoning enquiries, among others.
The property buying process involves numerous steps. However, these steps are not always the same since each process has its unique challenges. Below are the basic procedures.
Find a Solicitor
Once you have decided to purchase land, the next step is to find a solicitor to walk with you throughout the process. They will open your file, set charges, and confirm everything needed. So, once you have found the right seller, you can kick start the process right away.
Do a Search and Seek Clarifications
A search is vital as it gives the current status of the land. It protects you from hidden issues that might affect the usability of the property in the future. In most cases, the search is mandatory. For example, many mortgage lenders ask for the search document.
The other thing your conveyancing lawyer will do is to seek any clarifications about the land. After receiving the title, they ask questions to ensure all is in order. They might need to know information on the existent rights in that area and ask for planning permission for developments.
Securing the Mortgage
If you are not buying the property in cash, you might want to register for a mortgage. You need to have all the information you have requested for confirmation by the lawyer. There should not be any suspicion that may cause you to change your mind. Next, you need to request a surveyor to confirm that the price offered corresponds with the findings. You may also use the same surveyor for other necessary checks deemed fit.
Sign the Contract
Some of the documents involved when buying a property include a property information form for the seller. Moreover, you need a record stating all fixtures and fittings on the land. A plan and title information document and a report stating the crucial details regarding the property are also necessary. You will also sign the mortgage deed and the transfer documents. Finally, you will need to make a partial payment or deposit.
When hiring conveyancing services, you might want to ask about the cost and timeframe for the process. Frankly, there is no specific answer for both. The price usually depends on the size of land and legal fees requested. Ensure that you hire a reputable and competent conveyancer for a smooth and quick buying process.
Share3 May 2021
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