Conveyancing is a crucial if somewhat underestimated part of the homebuying process, and one that can save or cost you a lot of money in the long run depending on the provider you opt for. This makes it particularly important that first time buyers are well informed about how it all works and how best to approach a deal if they want to protect their investment.
What is conveyancing and why is it important?
Conveyancing is simply the official name of the legal process by which ownership of a property is transferred from one person to another. The legwork involved in this is vital because of how much money is wrapped up in property, as it’s only right that both the buyer and seller are protected from any nasty unexpected charges.
Essentially, a conveyancer’s role is to investigate all the factors which could cost you further cash or affect a sale, such as leaseholds, access to utilities like water and electricity, land rental, proposed building works, flood risks, right of way, etc. Once they have done all of this, they pass on the information to the prospective buyer, and then proceed to draw up contracts and liaise with mortgage lenders to make sure all necessary funds will be available at the right time. If a sale goes ahead, they will then file the transaction with the land registry and handle the payment of all relevant fees, ensuring everything is above board.
Don’t be afraid to shop around
When a process exists to help save or protect money, as conveyancing does, it can be all too easy to forget about the actual costs it will incur in its own right. Services like those from Homebuyer Conveyancing give prospective buyers the opportunity to compare online conveyancing solicitors’ quotes provided by members of their panel, made up of CLC licenced conveyancers and SRA regulated solicitors in England and Wales.
There are many reasons why it’s worth taking the time to compare prices, as not only are there search filters that allow you to find the price and provider that work best for you and your budget, but you don’t have to provide any personal details, the quotes are fully itemised so you can see exactly where your money would be going, you can organise a call with a conveyancer at a time that suits you, and no obligation advice is available free of charge. This all means you can enter a deal feeling confident that you’re getting the full bang for your buck.