Solicitors or Conveyancers play an essential role in the process of house buying. Choose your Solicitor with care, a lot of sales fall through due to time taken for the conveyancing work to be completed. You should try and find out how experienced they are, how fast they move and check that they stay in touch with regular updates.
Obtain a copy of the draft contract and the title deeds from the seller’s solicitors which proves that the sellers own the property.
The Solicitor will then check all the legal documentation relating to the property you wish to buy such as title deeds, land registry documents.
The solicitor will raise any questions called pre-contract enquiries with the seller’s solicitors in relation to the fixtures and fittings being left in the property and whether any alterations have been made and, if so, the required planning consents obtained.
Once a response has been given in relation to all the enquiries raised and your solicitors and the buyers are satisfied; the searches have all been returned positively; terms of the contract including completion dates have been agreed; and the mortgage has also been agreed, the solicitor will then prepare the contract for both parties to sign.
Once both parties have signed the contracts, they are exchanged which makes the agreement legally binding. The solicitor will inform the mortgage lender of the completion date and arrange for funds to be made available on completion day. They will transfer the title deeds into the buyer’s names, finalise the land registry searches and request the purchase funds from the buyer.
Copyright © 2021 NiceChoice.co.uk