A conveyancer ensures that the process is as smooth as possible by explaining jargon, solving problems, communicating with other parties, handling the exchange of contracts and funds, representing your best interests, and identifying any issues that may arise.
Choosing the right conveyancer can have a real impact on your experience of buying or selling a property, so understanding the process and what to look for when selecting a firm is key.
When to instruct a conveyancer
If you are selling a property, we recommend getting in touch with a solicitor when you put it on the market, so they can begin preparing the paperwork for a sale. If these documents are ready when a buyer is found, it can help to speed up the transaction.
If you are purchasing a property, think about instructing a conveyancer when you are ready to make an offer. This way, they can begin the necessary searches as soon as possible and identify any issues early on.
Unsure if it’s too early to start the process? Get in touch and we will be happy to discuss your individual situation.
How to choose a conveyancer
With so many conveyancing firms to choose from, making a decision can feel overwhelming. Begin by looking for solicitors in your area with a long-standing reputation for handling property transactions and speak to friends, family and colleagues to see if they have any recommendations from their own experience.
Ensure that the firm has a dedicated conveyancing department, as this means they’ll have the necessary expertise and look at reviews for different members of the team. Also, check that the practice is regulated by the Solicitors Regulation Authority (SRA) and on your mortgage lender’s approved panel.
Whilst it’s advisable to gather a few quotes to compare prices and services, you really do get what you pay for when it comes to conveyancing. A bespoke, personalised service may come with a slightly higher cost, but a good, responsive conveyancer makes the difference between a drawn-out, stressful process and a smooth one. As such, make sure to consider the sort of service you’d like, not just the price, before making a choice.
What steps are involved in the conveyancing process?
Property searches: The process begins with local searches to investigate any issues associated with the property and the surrounding area, such as flood risks, restrictions and ground stability.
Legal documents: for sellers, this involves filling in a fittings and content form, outlining what’s included in the sale, and a property information form on boundaries and utilities providers.
Title deeds: verifying boundaries and ownership.
Deed of Trust: If you are buying a home with someone else, a Deed of Trust outlines what percentage of the property is owned by each of you.
Contracts: once any issues are resolved and all searches are complete, your conveyancer will handle the exchange of contracts. If you are the buyer, this is the point at which you pay the deposit and the transaction becomes legally binding.
Completion: On completion day, a conveyancer is responsible for making sure funds have been transferred and received to enable the keys to be handed over.
Taxes: following completion, your conveyancer will ensure any Stamp Duty and Capital Gains Tax has been calculated and paid.
Transfer of ownership: the paperwork will be sent to the Land Registry to ensure the new ownership of the property is recorded.
What does a conveyancer not do?
Conveyancers do not check the structure and condition of the property; this is the job of a surveyor, whom you should instruct to complete a survey separately. However, a conveyancer may be able to advise on what to do if the survey flags potential issues and communicate with the seller’s solicitor about work that needs to be done or a reduction in the purchase price.
Additionally, a conveyancer does not negotiate on the price of the property, provide advice on mortgages or inform utility providers of a change in home ownership.
How much does conveyancing cost?
At Hill and Company, our standard fixed fees for conveyancing start from £900 plus VAT for straightforward transactions. However, exact costs will depend on the complexity of the sale and/or purchase and the property value. If you choose to instruct us, we will provide a detailed quote personalised to your individual situation.
Our fees are inclusive of all legal work, Land Registry registration, the submission of Stamp Duty, electronic money transfer fees and liaising with your mortgage lender.
How long does the process take?
On average, a residential property transaction takes 12 to 16 weeks from the time an offer is accepted. However, this can vary significantly depending on the length of the chain, the responsiveness of other parties and the return of searches.
Choosing the right conveyancer is key to ensuring the process isn’t delayed.
Why choose Hill and Company to handle your property transaction
Our conveyancing department has been helping families buy and sell properties for more than 170 years and we pride ourselves on excellent communication and a personalised service.
You’ll work with one solicitor from start to finish, who will keep you updated and respond to emails and calls promptly. If you are local to Altrincham, you can pop into our office or we can come to you should you have any questions or concerns.
Hill and Company is also Law Society Conveyancing Quality Scheme accredited, meaning our team and processes meet the highest industry standards.
If you’re looking for support with buying or selling a property, get in touch today and find out how we can help you, whether you’re stepping onto the ladder for the first time, looking for a forever home, downsizing or adding to your property portfolio.
