Things You Should Know About Residential Conveyancing
Understanding residential conveyancing can be difficult, especially if you have not needed conveyancing services before. Essentially, residential conveyancing is a legal process that involves buying or selling a property of residence.
It’s vital to have the right help when it comes to buying or selling a property. Although you don't always need to work with a property solicitor, it is advisable. Property solicitors and conveyancers work on your behalf to ensure they legally change the names on the documents in the correct way.
If you’re considering selling your home or buying a property, learning more about residential conveyancing and how property solicitors can help could be useful. To find out the main things you should know about residential conveyancing, read on.
What is Residential Conveyancing?
What is residential conveyancing? Residential conveyancing is the process of changing ownership of a residential property and ensuring that names are legally changed on the documents. Property solicitors who specialise in residential conveyancing are there to guide you through this process and help you organise the transfer of names on your behalf.
Property solicitors ensure that they legally transfer the residential property and put it in your name; making you the new owner of the home. Having a property solicitor at hand allows you to enjoy a seamless, viable and legal process with little to no stress.
When you purchase a new property or sell your previous home, it can be a nervous yet exciting time. Selling your home can seem daunting, but a new beginning is sometimes needed.
Once you’ve found your dream home and had your offer accepted, you can then apply for a mortgage and start the residential conveyancing process. Working alongside a property solicitor or conveyancer comes with conveyancer fees; these can vary.
The Residential Conveyancing Process
The residential conveyancing process can often appear complex and lengthy. The process takes a while, but it’s worth it for the services provided to you. In general, the process can take anywhere between 8 to 12 weeks; however, this duration varies depending on your situation.
Unfortunately, residential conveyancing isn’t an overnight process. During the process, you can expect expert guidance, support and advice if you work with the right firm. Although issues can arise during this time, your handy property solicitor or conveyancer should be able to help you come up with a solution.
All parties involved in the legal transfer of properties from one person to another should be hands-on, contributing to the process at all times. Residential conveyancing requires attention to detail, and property solicitors can offer this. Let’s take a look at the key stages of residential conveyancing:
- You’ll be supplied with an initial quote.
- Estate agents will supply the memorandum of sale to all parties involved.
- A sale or purchase file will be opened.
- A draft contract is drawn up and sent by the seller's solicitor.
- Your solicitor will send or receive a contract pack including office copies, title plan, property information forms, fittings and contents forms, an energy performance certificate (EPC), supporting documents and a copy of the lease with key information from the landlord.
- Searches will be carried out. This stage often requires a local search, drainage search, environmental search, and a mining search (depending on the area you’re based).
- If purchasing, your property solicitor or conveyancer will then calculate and pay the stamp duty payment on your behalf.
- Your property solicitor or conveyancer will ask for your 10% of the purchase price deposit, later arranging to transfer the funds to the seller's solicitor at the completion stage.
- You’ll sign the contract documentation and exchange contracts with the other parties involved.
- Once the exchange of contracts is fulfilled and completion has taken place, you’ll receive your keys on the day of completion.
- After completing the conveyancing process with a trusted property solicitor or conveyancer, your conveyancer/solicitor will apply to HM Land Registry to register ownership of the property.
Residential Conveyancing at Bell Lamb & Joynson
It’s understandable if you have worries when it comes to choosing the right team of solicitors to handle your conveyancing needs. Here at Bell Lamb & Joynson, we take pride in the excellent services we have to offer to our loyal clients.
Over the years, we’ve accumulated a wealth of knowledge and experience in all aspects of law. Our trusted firm has been operating since 1821, which has allowed us to share our 200 years' worth of expertise with UK residents.
Our dedicated and hard-working team remains by your side to help make your property dreams come true. We have a trusted team of conveyancing solicitors who are on hand at all times during the residential conveyancing process to answer any concerns or ongoing questions. The Bell Lamb & Joynson team is experienced in all areas of conveyancing in both England and Wales.
Regardless of whether you’re a first-time buyer or a family looking to upsize or downsize, you can rest assured that we will be able to assist you. We offer bespoke advice from highly reviewed conveyancing lawyers, efficient services and a friendly team who you can rely on.
Our firm uses the latest conveyancing technology that provides instant updates and case tracking through our very own mobile app - making the process as streamlined as possible for you.
Having us to hand comes with limited stress. We aim to make the residential conveyancing journey go as smoothly as possible, allowing you time to deal with us as well as enjoy other important aspects of your life.
We break down each step of the process and ensure that you’re fully aware of all your rights and responsibilities before signing any contracts. If you’d like to discuss our professional services further, don’t hesitate to contact us. We look forward to hearing from you soon.