Understanding the different types of conveyancing professionals
If you’re hoping to buy or sell a property in England and Wales, then a conveyancing solicitor will ensure that your move goes through smoothly and satisfies all legal criteria. Along with arranging your searches and transferring the title deeds, your conveyancing solicitors Essex professional will also offer legal advice about the property. If this is your first time buying or selling, then you might be confused about the different types of conveyancing professionals available. Make sure you understand which to hire so that as soon as an offer is accepted, you’re ready to proceed with the sale or purchase.
Conveyancing solicitor vs Licensed Conveyancer
A conveyancing solicitor is a fully qualified and practising solicitor who will be registered with the Law Society. This is regulated by the Solicitors Regulation Authority so you can always be confident that the work your conveyancer carries out for you adheres to their strict standards. Conveyancing solicitors in Essex and throughout England and Wales follow the same process, whereas if you’re buying or selling property in Scotland then your conveyancer of choice will be overseen by the Law Society of Scotland instead.
In comparison, a licensed conveyancer works as a specialist in property law but doesn’t practise other areas of law which you may find limiting. Licensed conveyancers are governed by the Council for Licensed Conveyancers who maintain professional standards in the industry.
What happens after you’ve had an offer accepted?
Instructing a conveyancer to act on your behalf is your first job after an offer has been accepted in either a sale or purchase. The process begins with a draft agreement which will highlight the terms of engagement and the fee you will be charged. Once you have accepted the agreement, then a buyer’s solicitor will contact the vendor’s solicitor to receive a draft copy of the contract, as well as property title deeds and any supplementary forms including fittings and contents.
After these have been shared, you’ll be expected to go through them so you’re aware of exactly what is included as part of the contract. This might include items of furniture, curtains and light fittings or even the garden shed.
Your solicitor will also conduct property searches if you are a purchaser. Often these are required by your mortgage lender, but they can also be useful in determining the location of any drains, hidden mines, or the potential for flooding in the area. In some areas, Chancel repair laws require properties within the vicinity to owe money towards local church renovations. This is all essential information that your conveyancing solicitor Essex pro will be able to advise you on before you proceed with your purchase.
Ready to exchange
Following your searches, and when all queries have been satisfied between buyer and vendor conveyancers, you will negotiate and agree a date to exchange contracts. Your deposit is required at this point, and the deal is binding. A completion date will also be agreed across the entire property chain.
On the day of completion, which is often the day you’ll move house, your conveyancing solicitor will liaise with the bank and arrange for the cleared funds to be transferred from the buyer’s solicitor to the vendor’s solicitor. Once this step has occurred, then keys can be released by the estate agent.
Following completion
Some after-sale tasks for your conveyancer include registering new property owners with Land Registry, providing copies of the deeds to the mortgage lender and paying stamp duty if owed.
Contact Hook & Partners
If you’re hoping to buy or sell property, then our conveyancing solicitors in Essex will provide end-to-end support throughout the entire process. Hook & Partners are available on 01268 692 255 or by email at info@hookandpartners.com.