Until they actually come to buy a residential property, many people are unaware of what a Conveyancing process is or what it entails.
Conveyancing refers to the legal process of legally transferring ownership of a property from the seller to the buyer. The process begins at the time when the offer is accepted and the matter is transferred from estate agent to solicitors in Canterbury and ends when the buyer is the legal owner of the property. However, the steps in between are lengthy:
Step 1 – Finding a Conveyancer
A conveyancer is a solicitor or legally qualified individual who will manage the transaction on behalf of the buyers. Once instructed, they will act as the communication between the seller, the buyer, the mortgage company (if one exists) and the estate agent (if one exists).
Once they have received instructions from the buyer, they will contact the sellers’ solicitor in writing to confirm their instructions. They will ask for a copy of any documentation, such as the official property title, draft contract and any other relevant information.
Step 2: The Enquiries
One of the main reasons for employing a solicitors Canterbury is to ensure that no points go unnoticed. A solicitor has the advantage of examining documents on a daily basis. Therefore, when they receive all of the paperwork from the sellers’ solicitor they will know exactly what to look for and may raise enquiries with the sellers’ solicitor, especially if they spot a problem such as a potential issue with boundaries.
Step 3: The Searches
Looking at a property isn’t always enough to assess it. Therefore, searches and surveys are necessary. Not only will these involve a surveyor who will assess the structure and condition of the property but will also involve the local authority who will confirm whether there are any plans for the property or the land surrounding it, the Land Registry, and the local water authority. These will be applied for and then assessed by family solicitors Canterbury who will then be able to let the buyer know that everything is okay with the property they plan to buy.
Step 4: The Mortgage
Although it is not the responsibility of Canterbury family solicitor to obtain the mortgage on behalf of their client, they will receive the mortgage offer and examine the terms and conditions carefully.
Step 5: The Contracts
Once all of the information has been received by the buyers’ solicitor they will then invite their clients to sign the contracts. This appointment can be lengthy as they will go through the terms of the mortgage, the responsibilities of the new owner and any points which they may have learned from the surveys and searches. At a similar time, the sellers’ solicitor will be doing the same thing with their client and once both contracts are signed they will be exchanged with a date set for the completion of the sale.
Step 6: The Completion
In preparation for the day of completion, it is the responsibility of law firms in Kent acting for the buyer to request the mortgage funds and to transfer them to the solicitor of the seller.
Once this has been done, the buyer owns the property and the paperwork for the land registry and HM Land Registry must be submitted. If you require any further advice I would recommend contacting EMD conveyancing solicitors in Kent or Whitehead Monckton solicitors in Canterbury, these are two of the leading law firms in Kent however always ensure that you research law firms for the best local solicitors in your area.
