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The following article was published in our article directory on February 20, 2012.
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Article Category: Real Estate
Author Name: Lara Ryan
If you are selling your property, you may think that you don t require the services of a conveyancing UK solicitor and you can undertake the process yourself. While your administrative duties will not be as extensive as those of a buyer, you will still need to complete a lot of tasks that you may not be qualified to handle and end up making errors that will cost you more to correct later.
The first stage in conveyancing UK is the creation of a sale agreement. As soon as you receive an offer from a buyer you will have to exchange contact details with them as well as the particulars of the sale, including the selling price, the size of the property and what items will be included as part of the sale. In addition, you will have to send over the title deeds since the buyer will need them when approaching a lender for a mortgage.
The buyer s conveyancing solicitor will also send you a property information form to be filled up. The form will require you to supply information such as the boundaries of the land, any disputes over the property, what services there are, i.e. water and electricity, who is presently occupying the property and their ages, and any changes that have been made to the property. Make sure that you answer all questions as honestly and completely as possible. When in doubt, disclose everything.
The next step is the drafting of a contract. Keep in mind that the contract will likely be revised several times throughout the conveyancing process. The contract is generally divided into two parts: the particulars which spell out the details of the property and the conditions of sale, which include details like the deposit required and the proposed completion date. Once a satisfactory contact has been drafted, sign it and send to the buyer s solicitor. Keep in mind that singing the contract does not mean that the sale has been completed. It only becomes legally binding once you have exchanged contracts with the buyer.
Once the exchange of contracts has taken place, you will receive the buyer s deposit as well as the remainder of the sale price from the mortgage lender. Then the deed will be signed over to the buyer, finishing the transaction.
If you decide that you need a Conveyancing UK solicitor to act for interests in a real estate transaction, make sure you hire one that is a member of a recognized industry organization such as the Council for Licensed Conveyancers since this will ensure that the solicitor has the qualifications to handle your case as well as adhering to the highest standards of industry practice. You can also ask for recommendations from mortgage lenders, real estate agents and even family and friends.s
Once you have a list of conveyancing UK solicitors, contact them and ask for quotes. Make sure that you don t make your decision based purely on their fees, but also consider the kind of services they offer and if you are comfortable with them, since you will have to work very closely with each other.
Keywords: conveyancing, cheap conveyancing, conveyancing uk, conveyancing wales, compare conveyancing
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