If you’re not already familiarized with the world of real estate and properties, conveyancing can sound like a lot of legal jargon. When viewing and putting a deposit down on a new home or property, you want to keep things as simple as possible, to avoid any further headaches.
To break it down, conveyancing is simply the legal part of a home transfer between two homeowners. When selling your property, or purchasing a new property, a conveyancer or conveyancing solicitor is brought on board to ensure the process is correctly done under the appropriate laws.
Can I DIY Conveyance My Property?
As conveyancing is the processing of laws and legal documents regarding ownership of a property, it’s highly recommended that you hire a professional to carry out the correct procedures.
Trying to make conveyancing a ‘do-it-yourself- project in order to save money can just cause more hassle and issues in the long run. When purchasing a new property, most mortgage lenders are pretty adamant on enlisting the help of a professional conveyancer to ensure that the process is carried out correctly. Usually you will find that your mortgage lender will recommend a professional from their own registry, to ensure they have the sufficient certifications.
Choosing to DIY your home conveyancing is risky business. If a section of the process is missed or done incorrectly, you run the risk of being sued, which could run up a large bill of legal costs and court fees.
You should be especially careful to avoid ‘do-it-yourself’ conveyancing in property buying situations where there is a divorce or separation involved. As the other side’s solicitor could find easy ways to trip you up, resulting in more fees and potential to be taken to court and sued. You should also avoid DIY conveyancing if the property is leasehold, is not registered with the Land Registry, or if the building is something other than a house or an apartment.
In these situations, it’s better to not worry about how much conveyancing costs, as the outcome of facing court fees would result in having to pay a lot more than originally planned.
Why is Hiring a Conveyancer Important?
When making a property transfer between two people, a conveyancer is there to ensure that the new owner receives the deeds to the home and the surrounding land, and that the process is carried out coinciding with any conveyancing laws.
Hiring a conveyancer or a conveyancing solicitor is an extremely important part of the process. If you’re looking at getting yourself onto the property ladder, or have found your dream home, a conveyancer will guide you through the legal work of taking the next step from start to finish. Each party is encouraged to hire their own conveyancing solicitor. These conveyancers confer with each other to guide both parties through the legal contracts and processes.
Once an offer on a home has been accepted, a conveyancer will carry out various tasks and processes to confirm your home transfer from a legal standpoint. Some of the tasks fulfilled by a conveyancer or conveyancing solicitor are: carrying out any necessary government checks on the property, swapping signed contracts between conveyances, transferring deposits, transferring the signed deeds and much more.