Moving home within a chain requires your legal service provider to handle conveyancing, agency agreements and sale contracts, whilst liaising between yourself and other parties. Here is some basic advice and guidance to help inform your choice of legal expert.
Conveyancing is the process involving the legal transfer of a property from a seller to a buyer. It starts when an offer on a property is accepted and becomes legally binding when contracts are exchanged. Completion takes place when monies are transferred and the keys are released.
Buying and selling a property can be a stressful and complicated process. While it is possible to deal with your own conveyancing, it is advisable to use the professional knowledge and expertise of a legal representative to ensure that complicated legal matters are dealt with correctly.
In a property sale, your legal service provider will draft the contract of sale and provide the buyer with legal information about the property. In a property purchase, they will make all the necessary legal investigations and searches for you and your mortgage lender to ensure that you have full information about the property before you enter into a binding agreement. Your legal service provider will take all steps to complete your sale and purchase on the agreed date and will deal with the repayment of any mortgages over the property you are selling.
The conveyancing process typically takes 6 to 8 weeks. There may be delays caused by various factors, such as if there is a chain.
It is worth considering a number of factors when choosing a legal expert to assist you with the sale and purchase of a property. You may wish to consider the location, reputation and cost of a firm. Answer a few short questions now and start comparing legal service providers based on what matters most to you.
Legal service providers typically charge fixed fees for the sale and purchase of residential properties. Find the best solution for you by comparing costs with The Law Superstore now.
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Buying & Selling a Property