Conveyancing is a process that involves transfer of ownership of legal title of property from a person to another or from one entity to another. The process typically has plenty of transactions that need to be completed before contract, before completion and even after the completion. A conveyancer makes the process less tedious to sellers and buyers who may not know how to go about it and follow all legal requirements.
A conveyancer is a qualified and licensed professional responsible for providing advice and information on the property sale. This is the expert who also prepares all documentation needed for the transfer and conducts settlement on behalf of the seller or buyer. The services of a conveyancer are important when selling or buying property, subdividing land, updating the title or when registering, removing or changing an easement.
When hired by a property buyer, the conveyancer will prepare, clarify and also lodge legal documents like memorandum or transfer and sale contract. They also research property and title certificates, handle deposit money in a trust account, calculate rates and taxes and settle the property. Your interests as a buyer will also be presented to the vendor through the conveyance. When hired by a seller, the conveyance will complete and sort all necessary legal documents, respond to buyer requests and represent to the buyer.
The fees
Conveyancing costs vary from one firm to another. There was a time the fees were calculated on a percentage basis with 1% of the purchase price and VAT and outlay making the basis. With increased competition, many firms have reduced percentage figures, whereas others offer fixed prices for the services instead. Usually solicitors charge professional fee plus VAT for the services. In most cases outlay is chargeable on top of the fee. Outlays can be defined as ancillary costs that are payable when buying a house. They cover the search fees and stamp duty as well as registration costs. The costs usually are fixed by statute and will therefore not vary between the solicitor.
One of the best ways of ensuring that you are charged reasonable fees you can afford is using conveyancing quotations. There are very good platforms that give you the chance to compare conveyancing quotes and fees so you choose a firm that is reasonable enough and bound to deliver beyond your expectations. These quotes are usually broken down so you can see how the final figure adds up. They are usually from the best and reliable solicitors so you know that the decision you make will definitely be valuable.
When looking for best conveyancing services ensure that you will be assigned a solicitor who is not only qualified, but also experienced in handling the process and settling the deal to enjoy a smooth pleasant experience whether you are selling or buying property. Compare solicitors and make sure that you also choose one that you can get along with so you enjoy best value for the conveyancing feed that you pay for the important services.
