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Let’s get to The Basics
What is Conveyancing?
Conveyancing is the legal part of the house buying and selling process. It is required by law that specific parts of the process are undertaken by regulated law firms, like us, and the people that conduct the work are your conveyancers
What is exchange and how does it work?
Exchange, or “exchange of contracts” is the moment the agreement for the sale of the property is made legally binding by the conveyancers for each party, over the phone. It is the point at which the actual completion date, the day you move in/out of the property is fixed. A deposit of 10% of the purchase price is usually paid to the seller’s conveyancer at the time of exchange of contracts
What’s the Process of conveyancing?
Conveyancing involves legal steps to transfer property ownership. It begins with an offer acceptance, followed by searches, inquiries, and contract preparation. Upon exchange, parties are legally bound. Post-exchange, final checks, mortgage arrangements, and settlement occur. The process concludes with the transfer of funds, title deeds, and registration, marking the successful transfer of property ownership.
What is a Search Indemnity?
Search indemnity is an insurance policy to protect against any financial losses a property owner incurs as a result of undisclosed issues that would otherwise have been revealed by search results, if they had been obtained. It provides peace of mind while also ensuring the purchase transaction can progress quickly and smoothly, avoiding delays in awaiting search results.
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Do You Need an EPC to Sell Your House?
In order to sell or rent any property, with only a few exceptions, an EPC (Energy Performance Certificate) must have been applied for. These remain valid for 10 years from the date of the initial survey.
2022-06-07
What is Vacant Possession?
When a property is ‘sold with vacant possession’, it means that the property should be empty of tenants and furniture on the day that you complete your sale or purchase of it. The only items that should be left in the house, if any, are those that have been agreed with the buyer in advance and have been written into the contract.
2022-06-15
New Build Conveyancing Explained
With the government continuing to support the building of new homes, it is becoming more and more likely that the property you’re interested in buying will be a new build. New builds have many benefits; they’re a fresh canvas that you can make your own, chain free, energy-efficient, and they come with a new build warranty.
2022-06-29
What Is a Transfer of Equity?
A transfer of equity is a change in the co-ownership of a property. You might arrange a transfer of equity if:
2022-08-10
What is Stamp Duty?
Stamp duty is a tax you may have to pay to HRMC if you buy a residential property in England or Northern Ireland over a certain threshold. The amount of stamp duty you pay depends on your circumstances. There are different requirements for first-time buyers, couples going through a divorce and those purchasing a second property, for example.
2022-08-10
What Happens on Completion Day?
In the buying and selling process, completion day is the last step. It’s when ownership is transferred from the seller to the buyer, and the money is transferred between the parties. An exciting time for both the buyer and seller!
2022-08-16
Do I Need a Conveyancer to Remortgage?
Remortgaging is a good option for people looking for a lower interest rate or a more competitive product, who want to consolidate short-term debts into their mortgage repayments, or release equity to finance another purchase such as a car, holiday or rental investment. But is a conveyancer essential for a remortgage?
2022-09-21
Should I Sell My House Now?
Many people decide to sell their house for many different reasons; to move to a new city, start a family in a bigger home, downsize or simply because the pandemic made them reevaluate their living space.
2022-09-21
Frequently Asked Questions
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