Conveyance is the act of transferring the title of the property or assets via a legal process. It can also pertain to issuing a certain encumberment, which includes mortgage or lien. You will need a conveyancing solicitor or a mortgage solicitor to make sure that you are getting the correct and legal title or encumberment. It seems like an easy process, but it is best to get a property solicitor so you can be assured that you are not leaving any stone unturned. Your property or mortgage solicitor will go through all the legal jargon, and protect your interests.
Two Major Parts of Conveyancing
Conveyancing involves two major stages: the exchange of the contract, and the completion of the contract. Though these two parts are pretty straightforward, there are other minor acts that should be completed in a conveyancing transaction.
Your property solicitor should be able to make sure that the property your are purchasing or selling is of marketable value, and that it has its corresponding deed or title. Once this has been confirmed, the two parties should then exchange contracts. Your property or mortgage solicitors should make sure that you are getting what you want in this exchange of contracts. He should be able to ascertain that both parties are getting fair deals. The next stage is the completion stage, which means that the contracts are settled legally.
The process seems to be simple, and you can actually do this on your own. However, as mentioned, property solicitors are better equipped to go through all details of the contract and make sure that you are not being cheated.
What to Look for in Your Conveyancers or Solicitors
It’s hard looking for someone to trust especially with purchases that involve large amounts. It is therefore, a must that you choose a property solicitor or a mortgage solicitor that is trusted and is reputable. You may ask your real estate agent to refer you to someone from the industry. You should check for credentials. Make sure that they are certified, and know where they hold office.
There is no harm in being extra cautious, so feel free to look around for other options if you don’t feel sure about a particular solicitor. Trust is important in this agreement, and the respect should be mutual in order to move forward in negotiations or discussions.
Look for a property or mortgage solicitor who is very direct and honest. You will know if he is merely taking you for a ride. Be upfront about your fees, and make sure that you ask about hidden fees. Clarify if the fees that you are paying him for a particular service is one-time, or if it will recur.
Conveyancers or Solicitors can do a lot in securing your property, so make sure that you pick the best from your area.