Conveyancing is the process of transferring the ownership of a property from a seller to a buyer. The property of concern is usually a house or a piece of land. Such properties are worth a lot of money; hence caution should be taken to secure your investment as a buyer or seller. Here's what you need to know about conveyancing and how it can be of benefit to you:
Conveyancers and Conveyancing Solicitors
To facilitate conveyancing, you need a conveyancer. This is a specialist who is qualified and licensed to handle matters concerning the transfer of property ownership. When looking for a conveyancer, you will come across various phrases; the most common ones are conveyancing solicitor and conveyancer. Is there a difference between these two specialists? Yes, there is.
As indicated above, a conveyancer can handle the transfer of property ownership from a seller to the buyer. However, if something arises that requires you to be represented in a court of law, the conveyancer cannot represent you, you might need to hire a lawyer.
A conveyancing solicitor is a lawyer qualified and licensed to handle the transfer of ownership of properties. Since they are a lawyer, a conveyancing solicitor can represent you in a court of law if legal matters arise.
Benefits of Conveyancing to a Buyer
Your conveyancer will help you gather all relevant information about the property in question. This is crucial in ensuring you don't purchase a property that will give you problems in the future. The kind of research done is deep and thorough. It entails finding out whether the seller is the owner of the property, the property is under dispute, a future artificial or natural activity will damage or reduce the value of the property and whether the set value of the property is fair.
Your conveyancer also helps you organise or manage how you are going to complete making payments for the property, especially if you are taking out a loan.
Benefits of Conveyancing to a Seller
A conveyancer helps you save time. Since you might be busy with other crucial areas of your life or business, your conveyancer receives phone calls from buyers, engages with them and notifies you only when there is a serious buyer.
Your conveyancer also makes sure that you receive the full amount you are asking for by carrying out research on the buyer and determining whether they will complete payment. The conveyancer can also help you create a transfer of ownership agreement that safeguards you currently and in the future. Reach out to a professional in the conveyancing industry to learn more.
Share22 October 2020
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