If you’re buying or selling a property, you’re going to need the services of a residential conveyancing solicitor. But what exactly is conveyancing, and what do these solicitors do? This blog post will give you a crash course in all things conveyancing so that you can be better informed when it comes time to engage the services of a professional.
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What Is Conveyancing?
In its simplest form, conveyancing is the process of transferring ownership of a property from one person to another. This process can be quite complicated, however, which is why it’s always best to engage the services of a qualified professional.
A residential conveyancing solicitor like AVRillo will take care of all the legal aspects of buying or selling a property on your behalf. They will also handle the transfer of money between the parties involved in the transaction. In short, they will ensure that everything is above board and that you are protected throughout the process.
What Services Do Residential Conveyancing Solicitors Provide?
Residential conveyancing solicitors provide a wide range of services to both buyers and sellers. These include:
- Drafting and reviewing contracts: A conveyancing solicitor will draft and review all contracts related to the sale or purchase of a property. This includes sales agreements, leases, mortgages, and more.
- Conducting searches on the property (e.g. local authority searches, environmental searches): Conveyancing solicitors will check out the property in question to make sure that there are no hidden issues or potential problems.
- Liaising with mortgage lenders: If you’re taking out a mortgage to purchase the property, your solicitor will act as a go-between with the lender. Exchanging documents and negotiating terms are some of the services your solicitor will provide.
- Dealing with Stamp Duty Land Tax (SDLT) returns: You may be required to pay SDLT when you buy a property. Your solicitor will work out any payments due and file the relevant returns on your behalf.
- Arranging for the transfer of utilities into the new owner’s name:Your solicitor will make sure that any utility bills are transferred into the new owner’s name.
- Organising buildings insurance: Your solicitor will arrange for buildings insurance to be taken out on the property in question.
- Completing the registration of the transfer of ownership with the Land Registry:Once all of the paperwork is complete, your solicitor will register the change of ownership with HM Land Registry.
How Much Do Residential Conveyancing Solicitors Charge?
Fees charged by residential conveyancing solicitors will vary depending on a number of factors, such as the value of the property being bought or sold and whether there are any complications with the transaction (e.g. if there are multiple buyers/sellers involved). As a general guide, you can expect to pay between £500 and £1,500 + VAT for standard conveyancing services.
Conclusion
If you’re planning on buying or selling a property, you’ll need to engage the services of a residential conveyancing solicitor. These solicitors provide a wide range of services to help make your property transaction as smooth and stress-free as possible. These professionals will take care of all the legal aspects of the transaction on your behalf and provide you with invaluable advice and guidance throughout the process. Be sure to choose a reputable firm with plenty of experience to ensure everything goes smoothly.