Put simply, conveyancing is the legal transfer of a property’s title from one party to another. This is a complicated legal process that assures that all aspects of the property transaction are in order and then legally transfers the property from one party to another. When deciding whether to do the conveyancing yourself or hire a solicitor it is important to consider the amount of work that is involved and the heavy consequences there may be if mistakes are made. Your UK property transaction conveyancing is likely to be the largest and most important financial deal you are ever involved in and great care must be taken to assure that your UK property transaction runs as smoothly as possible.
There are several steps involved in conveyancing that should be taken into consideration including:
- Setting up building and pest inspections
- If the property is part of a strata scheme the strata inspection report must be examined
- Arranging financing
- Thoroughly examining the contract of sale
- Paying the deposit
- Paying stamp duties
- Preparing the mortgage agreement
- Investigating possible outstanding arrears or unpaid tax obligations
- Verifying whether any government authority has a vested interest in the land
- Confirming whether any future planned development could affect the property
- Exploring the possibility of previously undisclosed problems with the property
- Calculating adjustments for council and water rates for the property settlement
- Supervising the change of title
- Attending settlement
A mistake in any area above could sour the property deal and have serious and detrimental financial consequences for the involved parties. Any money that may have been saved will quickly be lost in exponential amounts if deadlines are missed or key steps omitted or completed improperly. A qualified UK Conveyancing solicitor can make the whole transaction go much more smoothly and ensure that the transaction is completed properly and legally which removed a great deal of the stress from the individual.
Conveyancing can save you a lot of money in the long run
A qualified Chelmsford conveyancing solicitor has a great deal of experience in handling the many aspects of getting a final property settlement from getting the home inspected to investigating any liens or claims to a property that might cause problems. These experienced Chelmsford conveyancing professionals use a sophisticated tracking system that enables them to see exactly where a particular property is in the conveyancing process and precisely what steps need to be taken to complete the deal smoothly and efficiently. This is something that a do-it-yourselfer doesn’t have access to and can make a huge difference in ensuring that each step of the conveyancing process is handled at the right time and in the proper fashion. Eliminating mistakes saves the client money and it also saves them a great deal of time and aggravation.
Hiring a Chelmsford conveyancing solicitor is far less expensive and frustrating than trying to do it yourself. Even if a person doesn’t make costly errors during the process, the amount of time they will spend handling all the details will likely cost them more than hiring a Chelmsford conveyancing solicitor would.