Moving house is an exciting time but it can be stressful. The process of finding a great property, getting an offer accepted on it, navigating through to exchange and finally completion can raise many queries and legal issues. Having an experienced conveyancer to guide you through the process is essential.
Go-between
A solicitor will act as the go-between for all parties in the sale of a house or flat. The longer the chain, the more complicated your purchase will be. It is highly advisable to find a reliable legal expert who you trust to work in your best interests during what can be an extremely complex process requiring excellent communication at all times. It is advisable to research local solicitors and find a good one before you even make an offer as this will mean as soon as you find the perfect property you will be in a position to quickly get the ball rolling.
Duties
Your solicitor will be responsible for all the conveyancing aspects of your purchase including initiating the relevant local searches, checking the land registry and advising on stamp duty and home information packs. In certain cases they can also work for your lender, dealing with the intricacies of getting the mortgage deed written. A mortgage deed is a vital document that will be kept by your lender until the loan is paid off, after which many people entrust it to the safe keeping of their bank.
Recommendation
Ask your friends and family to see if you can get a recommendation for a solicitor. If you are starting from scratch, try and get several quotes before committing, as charges can vary significantly from practice to practice and they may have different charging structures. Ask to see any testimonials from satisfied clients and try and meet the person who will be handling your sale before you sign anything.
Payment
The way your payment to your solicitor will vary from firm to firm. Some work on a fixed fee basis, which is helpful when working within a tight budget. Others charge a percentage of the total value of the property in question and due to the complicated nature of buying and selling houses, there can often be additional charges from things that crop up along the way.
You may have an itemised bill including a charge for every letter or fax written and even every phone call made, so it is important to have a clear idea of the charges you may to fund. Buying a freehold home is more straightforward, as there is no requirement for your conveyancer to check the lease, so do bear this in mind if you are interested in a leasehold property.
Searching the land registry and local authority checks carry a charge, so factor this in. In addition to the solicitor’s fee, do not forget to factor in your stamp duty, which will depend of the price of the property you are purchasing, estate agent commission and your moving costs.