Everything You Need to Know About Conveyancing
Posted on: 25 March 2015 by Andrew Newitt
The process of conveyancing may seem overwhelming and even intimidating to some, but don't let the word scare you off, it's actually much easier than it seems.
The house you have been living in for the last couple of decades seems so big right now, and you feel like you do not need as much space as you did before. Instead of selling it, you might consider assigning your property to one of your children, who have just decided to start their own family. If you are not familiar with the legal procedure and the process of transferring the house to someone else, we can offer you a few advices on how to go through it with minimal stress and worries.
What is it?
Conveyancing is a procedure of legal transfer of ownership from seller to buyer, or in general, from one person to another. It might sound like quite a simple process, however, if one is not an expert, he might encounter several difficulties, but you can always look for professionals in conveyancing agencies who can help you go through this procedure much faster and easier.
There are just a couple of stages you have to get familiar with, having a professional by your side or not, so that you would understand what is going on every step of the way.
After you have found someone who is an expert in this field to help you, he will guide you through the whole process, starting with setting up the terms of engagement and signing numerous contracts. Always remember that no matter how long they are, read them carefully, and if you are not famili
ar with any legal terms, be sure to ask for an explanation or check some online sources before heading over to sign it.
Looking For a New Home
Once the paperwork is done, and the house is signed off to someone else, it is high time you started looking for a new home. You can go through ads with your solicitor, but there are many things you should pay closer attention to, not just decide whether you like it esthetically or not. That is why you have someone who knows exactly what problems might occur with the property, and do thorough research for you to see if there is a flood risk in that area, or whether local authorities have the right to build a motorway over your backyard. This might sound highly unlikely to you, but the fact is that these things happen, and even way too often.
Once you decide on a house, you will meet with your seller and exchange contracts that you have signed with the help of your solicitors. Once you do this, that property is legally yours, everything is transferred into your name, and you will be informed about the exact moving date.
Finally, do not forget that the really important thing is to get building insurance for your new home as soon as possible. You might forget really soon about all of these steps, and you will need a reminder once you definitely decide to leave the house to someone else and move into another home. That is why you should know that there is nothing wrong in admitting that you are not an expert in certain field, and find someone who is, and who will guide you all the way through.