Moving house?

What is conveyancing?

Conveyancing is the legal transfer of property from one owner to another. The conveyancing process, if properly carried out, ensures that the purchaser actually owns all the property, land and rights that have been paid for.

Our conveyancing service

We provide a service which is designed to safeguard your interests at each stage of the transaction. Although there are many reasons why delays can occur in the conveyancing process (problems on survey, the wait for local authority searches, broken housing chains etc), it is failure to communicate these which can cause frustration and confusion.

The conveyancing staff at our firm are fully aware of the need to keep in touch with clients at every stage of the transaction. We will do our best to ensure that delays are minimised and that the sale of purchase goes through as smoothly as possible.

Selling your property

The legal processes involved in selling a property are relatively straightforward. We will:

  • Obtain the Deeds from your mortgage lender (if you have one)
  • Send a draft contract to the buyers solicitor and answer enquiries raised
  • Obtain an up-to-date redemption figure for your mortgage
  • Redeem the mortgage and send the net proceeds of the sale to you (or put them towards the purchase of your new property)

Buying a property

This is more complicated because here we will be seeking to ensure that the property you buy does not involve you in unforseen disputes over rights of way, boundaries, fences, restrictive covenants, road charges or other legal entanglements.

We begin the process by requesting a Local Authority search. It is important to realise that this only establishes whether there are to be any public works affecting the property (such as motorway schemes) and whether there are any planning restrictions. The information obtained relates ONLY to the property being purchased and not to the neighbourhood in general.

After recieving the contract from the sellers solicitor, we check through the documentation and raise any specific queries. The next steps are:

Surveyor's Report

The building society valuation report is simply that. It is not a full structural survey and it is not certain to uncover defects in the property. If the property that you are buying is not newly-constructed, we would recommend that you appoint a surveyor to prepare a full report. If significant defects are found, it may be possible to negotiate a lower price with the seller.

Receipt of mortgage offer

Written confirmation of the mortgage advance will be received from the bank or building society.

Exchange of contracts

This takes place after the full deposit is paid (usually 5-10% of the selling price). Once contracts have been exchanged, the sale is legally binding.

Receipt of mortgage funds

We receive the funds from your bank or building society.

Completion

The full purchase price is paid and ownership is transferred to you. After completion we continue to act on your behalf, ensuring that Stamp Duty is paid and that the Title to the property is properly registered at the Land Registry. After this, the Deeds will be sent to your mortgage lender or, where there is no mortgage, can be stored by us on your behalf.

The majority of property purchases proceed without complications but we have the expertise necessary to advicse you if problems arise. We dom, for example, check the Title Deeds to ensure that the person selling the property is its rightful owner. We will also tell you of any unusual circumstances which may affect your ownership of the property.

The Cost

Seeing a solicitor provides valuable protection but it is important for clients to know how much the service is likely to cost. We will be happy to give you a written quotation, which includes the cost of disbursements such as Land Registry fees, search fees and Stamp Duty.

To read a full "Beginners guide to surveys" click here

Looking for a surveyor? Contact the Lancashire Surveyors today 

Call us now on 01772 821341

Tags : moving, house, conveyancing, solicitor, lancashire