What to Expect from Property Solicitors?
Purchasing a brand new family home or a brick and mortar high street business will surely be one of the largest transactions of your life. From mortgage discussions and house viewings to making an offer and conducting environmental searches, the act of buying and selling a property can be an extremely complicated process. And, that’s not even considering the number of potential hold-ups further along the chain. Fortunately, there are qualified individuals who are up to the task and can help you out; these experts are known as property lawyers or conveyancing solicitors.
For those not familiar with this practice, conveyancing is the legal process of buying and selling a property. So, in layman’s terms, a conveyancing lawyer or property solicitor is trained to carry out the services necessary to transfer the ownership of a property from one party to another.
As experts in property law, we understand how incredibly exciting the whole process can be for someone and how important it is to maintain this enthusiasm, even when it starts to become stressful. Whether you’re looking to purchase your first home or are relocating to a new city, just remember that you’re making a big step onto the property ladder as well as in life. Before embarking on your journey, make sure you have the conveyancing experts on hand to assist with any documentation, mortgage talks and exchange of contracts.
How a property conveyancing solicitor can help
Whether you’re in need of someone to aid you in your house move or some comprehensive advice on commercial property law, a property solicitor can take the burden off your shoulders. There are many duties and responsibilities that a solicitor undertakes when it comes to conveyancing, and understanding their legal practices can help you feel less overwhelmed. So, what can you expect from a property lawyer? Let’s explore all the areas whereby they can support you and keep the cogs turning behind the scenes.
Also known as conveyancing searches, property searches are carried out by your chosen solicitor to ensure you know everything about the property you plan to purchase. These enquiries are crucial to understanding what’s hidden beneath the surface and will reveal anything potentially alarming or dangerous. For example, are there plans for a prison to be built on the land next door? Or is your new home built on an abandoned mine? These are extreme examples but similar discoveries have been known to be unearthed.
As part of the process, your chosen solicitor will carry out a few searches including the local authority, environmental and water and drainage, as well as able to analyse the results. These various searches can turn up information regarding building or road proposals, land contamination, risks of flooding, ground stability and more. These searches can take anywhere from 48 hours to several weeks and any information revealed can provide you with a stronger negotiation position.
It’s no secret that there is a lot of paperwork involved when buying or selling a home or business property. Drawing up documents and ensuring they’re legally binding is a service that a property solicitor will be able to do carry out.
If buying a property, you’ll need to fill out all forms provided by the seller for you including a fittings and contents form (TA10). This discusses any items that could be left behind and everything included in property transactions. As well as these, you might need to fill out a property information form (TA6) which includes information like property boundaries, utility suppliers and parking facilities. If selling, a solicitor will be able to draw up documents such as contract of sale and vendor’s statements, to ensure you’re protected from future conflict.
When the time comes for contracts to be signed and property deeds to be transferred, a conveyancing solicitor will be able to draw up all relevant paperwork and conduct all negotiations on your behalf. Whilst liaising with the other party’s solicitors, they can exchange contracts and prepare a statement, ready for the deeds to transferred.
As well as property documentation, a conveyancing solicitor can liaise with all relevant government departments that need to be informed about your move. Your chosen solicitor will search the Land Registry (HMLR) to make sure that no-one else has registered a claim to your new property since the beginning of the conveyancing process. Additionally, they will be able to forward any relevant documentation to the Land Registry, proving that deeds have been transferred and that the property is now yours.
Property lawyers won’t be able to grant you a mortgage but can help advise which mortgage can suit your financial situation best and discuss mortgage lenders with you. A solicitor can sit down with you to help you understand mortgages, how they work and repayment rates.
As well as selecting a mortgage and discuss rates, a conveyancing solicitor may be able to help you later on. At some point further down the line, you may consider remortgaging your property. This could be for many reasons, from searching for better rates and overpayment options to making home improvements. Remortgaging is a transactional switch from your existing mortgage to a new mortgage deal and a conveyancing solicitor can advise and deal with the mortgage lenders on your behalf.
The process of hiring a property solicitor
So, you’ve scrimped and saved, discussed your financial situation, finally found a property you want in your chosen area and made an offer. Now it’s time to think about what happens when it gets accepted and hiring a property solicitor. Below are some tips.
●Firstly, decide on a reliable solicitor to manage your move. Consider recommendations from family, friends and online reviews before making a shortlist of any favourites.
●Then, request a meet and greet before asking their rates - meeting them may help you decide.
●Finally, before making a decision, review their accreditation and make sure it checks out; they should be regulated members of SRA (Solicitors Regulation Authority) and CQS (Conveyancing Quality Scheme).
Once hired, they’ll be fully involved in the process and will begin conducting local authorities and environmental searches, liaising with the other party’s solicitor and checking in regularly for progress updates. Before long, they’ll be exchanging contracts, deeds and keys as well as pay Stamp Duty and submit tax returns to HMRC. It can be a long process, so take all the weight off your shoulders by hiring a reputable conveyancing lawyer to help you.
Andrew Lee Property Lawyers - professional and legal advice on properties
Buying and selling a property isn’t without stress. From collapsing chains to mortgage mix ups, you’ll need as much assistance as possible. As expert domestic and commercial property solicitors in Maidstone, Andrew Lee Property Lawyers can offer professional and reliable conveyancing advice.
As well as home and business transactions, we can also assist landlords and tenants and provide information on commercial investments, lease extensions and property development. So, whether you’re a first-time buyer or an established business owner looking to franchise, Andrew Lee Property Lawyers can help you in any circumstance. For qualified and expert property legal advice in Kent, call us on 01622 750 101 or email us on info@a-lee.com .
