It is not easy to purchase a property without conveyancing. This is a procedure that includes transfer of property ownership from one owner to another. However, you must understand how much will this process cost and who will perform the procedure for you. In this article, the conveyancing process simplified for your convenience.
The conveyancing procedure involves three easy steps including-
- The sale agreed
- Exchange of the contract papers
Once you have hired the conveyancer, the professionals will initially conduct researches with different local authorities. They will make sure that there are no building plans afoot. While conducting the research they will make notes of several things. They will check whether there are any sewers near the property. They will conduct thorough inspection to check that area is categorized as a flood prone area. There are several residential areas having financial liabilities pending from past inhabitants.
What is the role of the professionals?
Not only this, these professionals will inform you of stamp duty and other incurred costs. They will thoroughly check the contracts provided by seller’s conveyancer so that nothing goes wrong. Once the procedure is about to complete, the professional will pay fee on your behalf so that you do not face any inconvenience. Lastly, they will register the property in the new owner’s name.
The cost of conveyancing depends on several factors like the value of property, the professional you choose and so on. On an average, the conveyancing procedure will cost somewhere around $850. This amount includes everything from the conveyancer’s calls, timings, letters, and fees of council searches to the registration charges.
Learn more about the online conveyancing procedure
If you go for the online conveyancing option, you will actually save about hundred bucks easily. The online procedure will cost you somewhere around $400. Some of the conveyancers often demand a fixed upfront. It is not wise to sign the deal with such professionals. The reputed professionals will demand for the fees only after successfully completing your process.
If you do not wish to spend money on professional conveyancers you could perform the process on your own. However, it will consume some time and energy. You must also gain useful information about conveyancing before completing the procedure on your own. It will be disastrous if you fail to identify the boundary dispute or any other issue with the property.
It has been observed in many cases that sellers do not have right to sell the property due to a family dispute. They still manage to befool the buyers by preparing the fake agreements ready. If you are not able to identify such scams, it would turn into the house buying nightmare. To prevent such situations, you must talk to a knowledgeable family member or friends if not the conveyancer.
To be on the safe side and to avoid the above mentioned circumstances it is better to choose the conveyancer that demands reasonable fees. While choosing the right professional, do not forget to take recommendations from the friends and family.
Author’s Bio : This article has been written by Ken Wilson. You can purchase properties and apartments in the UK and get the conveyancing procedure simplified by hiring experienced solicitors. To find the nearest solicitor to your location, please visit their website.