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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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How To Speed Up the Conveyancing Process
Conveyancing usually takes 8-12 weeks to complete; however, this can vary depending on your situation. Delays can occur when both parties are not as responsive or proactive. Delays are also common in cases where the purchase is part of a divorce case or a leasehold property.
2022-10-20
What Are Conveyancing Searches?
Conveyancing searches, also known as property searches, are enquiries into a property you plan to purchase to identify more information and potential risks. Your conveyancer will conduct these searches with public authorities at the start of the conveyancing process.
2022-10-10
Stages of the Conveyancing Process
Conveyancing covers the legal and administrative processes by which the ownership of a home is transferred safely from one person to another. It is our intention to ensure that your move proceeds smoothly and that ownership passes from the seller to the buyer. It is important for all parties concerned to have some understanding of the conveyancing process.
2022-10-10
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
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
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
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 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
Frequently Asked Questions
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