The process of buying and selling houses or of buying and selling any property for that matter requires the fulfillment of legal formalities. While the estate agent can help you with finding a buyer (in case you are a seller) or with finding a house (in case you are a buyer), no estate agent has the legal knowhow to complete these legal formalities. While estate agencies do offer clients the service of solicitation or conveyancing, they basically outsource this task to solicitors or conveyancers. It’s not a good option to let your estate agent handle this task as you would end up paying a lot more to the estate agent for conveyancing than you would have had to pay if you had got in touch with a conveyancer or in touch with a solicitor on your own.
Once you have decided that you will get not ask your estate agent for conveyancing, you will have to decide whether you want to use the services of a solicitor for the purpose or those of a conveyancer. Before delving into the differences between conveyancers and solicitors and who would prove to be the better choice for your requirements, it’s important to first learn about what is conveyancing services?.
Conveyancing is the process in which a property is transferred legally from one person to another i.e. from the seller to the buyer. Conveyancing services are the services that are provided to complete all the legal requirements of the transfer of the property like drawing of contract, conduction of searches, registration of property, applying for mortgage etc. It must be understood that you would need conveyancing services regardless of whether you are a buyer or a seller. The functions carried out by a conveyancer or a solicitor when representing a buyer would obviously be different to when representing a seller.
So, who would be the better option for conveyancing services when you would be selling or buying a property – a conveyancer or a solicitor? Let’s take a look at both these professions to better understand who will be able to provide you the better services.
Solicitors get trained and educated in criminal law and litigation in general and then it is left up to them to specialize in one area or to continue covering all areas. Solicitors who offer conveyancing services usually know property laws well but since they study a more diverse range of topics, their insight specifically on property law isn’t very strong.
The sole focus of licensed and professional conveyancers lies in property law and this is why they can only offer conveyancing services. This provides them the edge over solicitors though as their sole focus is on property law and therefore, they understand the nuances far more deeply than solicitors.
It’s not just about the fact that the sole focus of conveyancers is on property law that gives them the edge, conveyancers are also preferred by mortgage firms since they know the legalities of property transfers better than anyone else. Since conveyancers can only work on cases related to property law, they are far more accessible than any average solicitor who would be swamped with cases and might not be available when you need him/her because of the individual being in court or being out of the office. So, conveyancers would be quicker in following up on your case and would be far more efficient than solicitors in handling your case as well. Lastly, another point that goes in the favor of conveyancers is that they offer very competitive rates for their services and legal fees are something that you can’t ignore when buying or selling a property.
If you would look at mortgage introducer’s article on conveyancers and solicitors, you would get a deeper insight on which professional should be your preferred option for conveyancing.
You would need to know the stages of conveyancing to better understand what a conveyancer brings to the table. The tasks a conveyancer has to perform differ according to the individual he/she is representing.
The tasks of a seller’s conveyancer include:
The tasks of a buyer’s conveyancer include:
|Looks into the buyer’s identity.||Completes a survey of the property and applies for the mortgage if required.|
|Gets information for the property information and fittings and content form.||Makes the offer legally to the seller’s conveyancer.|
|Gets the required registration documents from the relevant Land Registry.||Checks the draft contract and explains it to the buyer.|
|Prepares the draft contract and explains it in simple jargon to the seller including details about when the sale would be concluded and when the keys would need to be handed over.||Prepares the transfer deed along with other legal documents like completion statement and gets the property registered in buyer’s name and gets a copy of the registration before handing it to the buyer.|
You should choose your conveyancer wisely in order to ensure smooth sailing during the legal transfer of the property.
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