For most people, buying a new home represents their largest single investment. This is why using an experienced property lawyer is so essential. Here Warners Solicitors explain what is involved in the business of conveyancing – the legal transferring of home ownership from the seller to the buyer
At Warners we believe in making the conveyancing process as straightforward and as informal as possible and we pride ourselves on the quality of our service. Here is some of the complicated conveyancing explained to help you through the process.
When buying and selling a property it is vital that you instruct a lawyer that has the technical capabilities, time and experience to ensure a smooth transaction. Without these qualities, the transaction can be fraught with problems and frustration.
Our team of residential property lawyers both possess and understand the importance of the above qualities and by instructing us, you are giving yourself the very best chance of a smooth and stress free transaction.
TransAction – The Conveyancing Protocol
‘TransAction’ is the name given to the conveyancing protocol operated through the Law Society, which aims to make conveyancing both simpler and quicker. Participating solicitors use a standard and jargon-free procedure. ‘TransAction’ also breaks with traditional house-buying procedures by shifting some of the work in the conveyancing transaction from the buyer’s solicitors to the seller’s solicitors.
At exchange of contracts (when the buyer becomes legally bound to buy the property), the seller will expect a deposit to be paid. However, as part of the ‘TransAction’ scheme, if you are selling another property your buyer’s deposit can usually be passed on.
If property is leasehold, buyers will need to look carefully at the lease terms in order to establish the maintenance obligations for repair, level of rent and any service charges etc, in addition to any restrictions or obligations in respect of gardens, car parking and so on.
We have specialists that can advise in respect of lease extensions and/or a collective purchase of the freehold (enfranchisement).
Housing association and shared ownership schemes
We have considerable expertise in dealing with purchases and leases from local authorities, housing associations and under shared ownership schemes.
How much will it cost?
We will always supply clients with a written costs estimate for handling their conveyancing. The estimate will also set out all out of pocket expenses such as searches, stamp duty and land registry fees etc.
Find out more at www.warners-solicitors.co.uk