What is Conveyancing?
In the field of property transactions, conveyancing is the process of transferring the legal title of a property from a person to another. Usually, there two stages in conveyancing; the first stage is exchanging of contracts and the second stage is the completion of the process, where the legal title passes to the new owner
The Conveyancing Process
Since moving house is a stressful experience, even when you are not the one to organize the legal duties, there are conveyancers out there that will help you experience ease in going through the process. The conveyancing system has a process to be adhered to and steps to be completed professionally. Below are those steps;
• Initial paperwork and draft contract – Once the offer is accepted, the seller’s conveyancer drafts the agreement to outline the terms and conditions of the sale
• Introductory questions from Buyer’s conveyancer – Once the buyer’s conveyancer has confirmed that all the paperwork and contract is in check, he will make some primary checks about the property and ask the seller’s conveyancer some questions that may arise from the draft papers
• Organizing a survey and searches – The buyer’s conveyancer checks the condition of the neighboring land and also assesses external factors like drainage systems and local developments.
• Approval of the draft Contract – both conveyancers, negotiate the terms outlined on the draft contract, and the contract is made official. Each party then signs the agreement as a sign of readiness for the exchange.
In the event of conveyancing flats, there are more steps to be followed to ensure the terms of the lease agreement are compiled well.
Conveyancing can be a complicated process. It will be beneficial to get a professional conveyancer who will make your work easy by undertaking all the necessary property work.