When buying property, the buyer must ensure that they have ‘title’ to the land that the property sits upon; meaning that the seller is the legitimate owner of the property, with their details lodged as the registered owner with the Land Registry. This ensures that the seller has the right to sell the property and that there are no factors that could prevent a mortgage being taken out on the property, or a re-sale in the future.
Conveyancing explained
Conveyancing is the process that pulls together the transfer of the legal title of the property from one person to another, the granting of a mortgage on the property and typically involves two major landmarks in the purchase process; the exchange of contracts where the transaction becomes essentially immutable, and ‘completion’, when the legal title passes from seller to buyer.
Residential conveyancers ensure that the seller has a valid title and will arrange the appropriate contracts, to achieve exchange of contracts and, ultimately, completion of the transaction.
5 Key Considerations
1. It is important to ensure that the conveyancing solicitor you choose is regulated and insured and has the appropriate indemnity insurance. Ideally, the conveyancer will have Conveyancing Quality Scheme (CQS) accreditation.
2. Check the conveyancer is conveniently located. This can be invaluable in terms of pre-existing local knowledge. If you’re looking for the best conveyancing solicitors Rugby, for example, a London-based firm would notionally be able to work for you, however, a local firm may be already aware of any issues that could arise specific to the local market. If this is not an issue, be prepared to communicate via telephone and email.
3. It is important to check the fees that are quoted for the job. Based on the reputation and location, the conveyancer will charge accordingly. Buying property involves a significant level of investment, so it is essential to check fees before hiring. The conveyancer should offer a full breakdown of their fee structure. This will give you peace of mind in understanding how the conveyancer is charging and for what services.
4. Primary point of contact and accreditation. Firms such as Sam Conveyancing can take control of the entire conveyancing process for you. Ideally, you will have a named specialist allocated to your case from the moment it commences, serving as a primary point of contact for you. Any firm you select should comply with the Solicitors Code of Conduct published by the Solicitors Regulation Authority
5. Source recommendations from online reviews, together with friends and family who have been through the process. Most companies will show reviews on their website through reputable third-party review sites such as Trustpilot. In today’s online world, be inquisitive if you cannot find any online reviews, and ask yourself why the company doesn’t present this invaluable feedback.
When compiling your quotes, it is not unreasonable to ask for a timescale. Of course, there are many factors to consider, for example, the length of the chain involved and any pre-existing factors such as whether the properties involved are freehold or leasehold. However, a rough estimate giving the anticipated timescale will give you an indication as to how busy they are and how long you can expect the process to take.