As soon as your offer has been accepted on your new home, it’s time to find a solicitor and get the conveyancing started. When you’re buying for the first time, the whole process can feel quite daunting. So it helps to have a basic understanding of the conveyancing process.
In a nutshell, conveyancing is the legal work whereby the title and ownership of land transfers from one person to the other, says Mike Charlesworth, a partner at Glaisyers Solicitors, based in Manchester.
Conveyancing itself is actually about the land, rather than the property built on it, as it’s the land title that has to be transferred, he says.
Information
Having an idea of what the process actually entails means that you can help it to go as smoothly as possible, by making sure your solicitor has all the information he or she needs.
A solicitor’s job is to make sure that process takes place properly and that you are legally made the owner. He or she is responsible for making sure all of the relevant searches are carried out and for making sure there are no legal problems with the property or ownership of the land that may prove tricky when you come to sell it yourself.
Making sure that you understand exactly what you are buying is also part of the remit – for example, the land your home is built on may have building restrictions placed on it, or a public access route may be nearby.
Although it’s not a legal requirement to employ a conveyancer – you can do the work yourself if you choose to – most people would rather hand the job over to a qualified professional.
Conveyancing can be quite straightforward, says Mike Hymanson, head of property at national law firm Rowe Cohen. But it’s during the times when it’s not straightforward that you need a solicitor, so it’s quite a risk to take it all on yourself. Solicitors can spot a potential problem, which if missed, could end up costing you a lot of money when you come to sell the property.
If you need a mortgage, you don’t usually have the option to do the legal work yourself. Mortgage lenders generally insist that the person doing the conveyancing is qualified and is a member of the Law Society.
Personal recommendation
Personal recommendation is the best way to find a conveyancer, so ask your family and friends who they used, or you can contact the Law Society or the Council for Licensed Conveyancers to find one in your area.
It’s a good idea to find out exactly who in the firm will be taking on your work, advises Peter Flemming, head of property at national law firm Betesh Fox.
He says: The solicitor is someone you will be dealing with, sometimes on a daily basis, on what’s likely to be the biggest financial commitment you have. It’s important that you get on with this person.
If you’re in a rush to complete, this may also affect your choice.
If you’re working to a tight deadline, it’s best to choose a solicitor in the local area or near your work so that you can get there quickly, says Flemming. It’s important to sign forms and get them back to the solicitor as soon as you can to avoid unnecessary delays, he adds.
Although the legal process, (and in particular, the local authority and land registry searches) is often blamed by buyers as the cause of delays, that’s not usually the cause of the majority of hold ups, says Hymanson.
However good a solicitor is, the process can only move as quickly as the slowest person in the chain, he says: Delays are rarely due to the searches as many of these are now done online. In which case, if there is not a long chain, the process should take no longer than six to eight weeks.
The chain is usually the reason behind the delay, agrees Charlesworth who says that sometimes other people in the chain underestimate the time it will take to sell their own home, even though they have put in an offer and kick-started the process for the home they want to buy.
Looking for a solicitor who can keep you up to date with the process via e-mail, can be a good idea, as this is often a cheap and convenient way to communicate, says Flemming. This is especially important if it’s difficult for you to have phone conversations during working hours.
Costs
But before any work begins, get an estimate of the costs involved. Many solicitors charge a fixed rate for conveyancing, often around the £300-£500 mark. This includes the search fees, which can cost between £100 and £250. Expenses can increase if the process gets complicated and you haven’t agreed a set fee, so it’s best to arrange one at the outset.
If you’re keen to move as quickly as possible, it’s a good idea to pay for search fees upfront, and instruct your solicitor to send straight off for them. Some local authorities keep their records online, and searches take only 24 hours. Others have to sift through piles of paper files and can take as long as two months. But remember that if you have paid for the searches, you can’t get your money back, if you then pull out of the deal for whatever reason.
Keeping in touch with your solicitor is essential, however; when they send you a form to sign, or ask for copies of documents, most of them want them sent back by return. But that doesn’t mean you should rush the process along, if you don’t understand what’s happening at each stage.
Financial commitment
Buying a home is likely to be the biggest financial commitment you’ve ever made, so if you don’t understand something, get your solicitor to explain it again. It’s the solicitor’s job to make sure that all goes well, says Charlesworth, and people complain that it takes a long time. But it’s important to see the process in context, he says.
If you wanted to buy a £15,000 car, you wouldn’t just pick one you liked the look of and drive it straight off the forecourt, he says: First, you would examine it, find out how much it costs to insure it, get the money together to pay for it, and register it in your name.
So if you’re buying a home that’s worth £150,000, for example, you’ve got to allow even more time and take that process seriously as it’s an important financial commitment, he says.
Understanding on all sides is the key to the process going smoothly. For everyone’s sanity, it’s a good idea to set a realistic moving date that everyone in the chain has a decent chance of sticking to – unrealistic time pressures can lead to disappointment, or even to buyers and sellers pulling out of the deal.
However, everyone wants the process to be quick and efficient so it’s essential that you make sure your solicitor is on top of the work and is being proactive, rather than simply reactive, says Flemming.
Don’t be scared to call your solicitor to ask for an update if things have gone quiet, he says: This is well within your rights.
