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Conveyancing Tips Straight From Our Conveyancing Teams!

Author : Brazg Gavin

1. Ensure that your conveyancing firm is regulated by the SRA/Law Society or The Council for Licensed Conveyancers/CLC.

2. These days you do not have to 'go into town' to see your conveyancing solicitor any longer - you can do your conveyancing online, so contact can be done via email or over the telephone.

3. Online conveyancing is usually a far speedier experience than using a high street firm.

4. If you decide to get a quote, you really have to make sure that all the charges are made known to you. There are always things that crop up, but by being regularly updated, will ensure no surprises.

5. If the firm of Solicitors or Conveyancers you are using has more than one office, then they can act on both sides of a transaction; that's, one side acts for the vendor, the other acts for the purchaser. This should help keep time scales down to a minimum. If they do not have more than one office, then they cannot act for both the vendor and purchaser, as this will be a Conflict of Interest

6. According to the BBC website, typical solicitor fees (not including Disbursements & VAT) in England & Wales is approximately ?550.00.

7. Following the abolishment of the HIPs, buyers now pay for the searches and the seller's only have to supply an EPC

8. Check who your conveyancing firm is governed by. The SRA and CLC are the only regulatory bodies recognised in terms of the protection offered.

9. Try not to stop your search at the cheapest priced Conveyancing firms; it may not be worth your while, as cheap may mean that corners could be cut. In the same token you really don't want to be paying over the odds.

10. It is always prudent to acquire several quotes and look at them together. It may be that one firm is including something that another firm is not. If that is the case find out what the 'extras' will be and the costs.

11. If you're buying a property, does it have a HIP? If it does, how old is it? Only searches found in HIP's that are less than six months old can be used. This could potentially save you having to purchase brand new searches.

12. Budget for extra disbursements - Some properties May be located in a mining area for example, so your mortgage lender will require a mining search to be carried out.

13. Put aside around ?200 to cover any extra searches which may come up.

14. Buying a home near a church? You might be liable for chancel repairs so you'll most likely require a chancel repairs search.

15. If you are a first time buyer, you'll be exempt from paying Stamp Duty on a property that's below ?250,000.

16. However, if your partner has ever owned a property before, you will not be able to purchase together as first time buyers.

17. When remortgaging, ask your lender if the product also comes with free legals. This will help save hundreds of pounds in conveyancing fees, plus takes the effort out of locating a conveyancer to do the work

18. Ask your conveyancer if they provide a no completion, no fee service

19. Check if your conveyancer takes payment for writing emails, letters and photocopying- most firms tend to.

20. Ask your conveyancers if they offer online case tracking, and if so, is it free?

21. Thinking of carrying out your own conveyancing? Think carefully about this one, it is possible, but it can be extremely stressful and even may take longer than if you were to use a conveyancing expert. If going alone, you may find it incredibly difficult to get a mortgage offer.

22. If you're buying a leasehold, expect to pay slightly more for your conveyancing as the conveyancer will also have to deal with the property management company

23. Purchasing a new build? The norm is to complete and exchange within 28 days, as developers are keen to get their money, so count on paying more for your conveyancing.

24. Shared ownership purchases take the conveyancer more time to complete and consequently will most likely cost more.

25. Find out if your conveyancers have a client services or customer care team. Sometimes it is not always possible to speak to your conveyancer, so a customer care team that will keep you up to date is crucial.

26. According to the Council of Mortgage Lenders, over 28% of home sales fall through as a result of buyers getting cold feet.

27. Set reasonable timescales, on average it will take around 3 months to complete a house purchase or sale.

28. If selling do you have all the building regulation documents, related planning permissions, FENSA/CORGI certificates to hand? It could cost you more if you have lost or mislaid them.

29. If purchasing, make sure you have evidence of your source of funds (money used other than the mortgage) for money laundering regulations, usually 6 months of bank statements - ask your conveyancer.

30. Are family or friends gifting you money to assist with your purchase? Ensure you inform your lender and conveyancer as quickly as you possibly can.

31. Several firms have a client services team that can supply updates to you without needing to wait or make an appointment to speak with your conveyancer - handy if you need an instant update or are unclear about anything.

32. If the purchase price varies from the original you really must inform both your lender and conveyancer as soon as you possibly can - it might holdup the exchange as new documents and amended mortgage offers need to be put in place.

33. If buying/selling a leasehold property be prepared for other charges payable to the managing agents for example apportionment of service charges, notice of transfer fees - these are not included in any quotation you will get from the Conveyancing firm as they will not know how much (if any) is required until the conveyancing is half-way through.

34. If buying a mortgage in possession property, remember it is 'sold as seen'. Any questions you might have associated with the property might not be answered because the seller will have limited information. Exactly the same applies for executor estates.

35. Be prepared to be flexible with completion dates, depending on just how long the chain is. Don't arrange removals dates until you are certain that everyone is ready to exchange.

Author's Resource Box

Now that you know the challenges you face in the current property market, visit the our website and read our expert guide on how to find cheap conveyancing quotes.

Gavin Brazg is editor of The Quick House Sale Advisory - UKs largest free resource of free expert advice for UK House sellers.

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Tags:   conveyancing, solicitors, buy house, sell house, property solicitors, conveyancing costs, conveyancing quotes, conveyancing process

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Submitted : 2010-10-11    Word Count : 870    Times Viewed: 201