Getting things locked down
Purchasing a property, and all that it entails, can often be the most trying and stressful undertaking a person faces. That said, it is also arguably one of the most important and positive steps in their lives.
The process, however, is one which entails a great deal of paperwork and legal jargon – and it is for this reason that conveyance solicitors exist – to guide new home owners and sellers in the right direction.
A conveyancing solicitor in Portsmouth is there for far more than just signing and reviewing papers and ensuring everything is in order, they also help both the buyer and the seller with any of the inherent stresses and hiccoughs which can often arise, and do their utmost to ensure that both parties agree to a sale amicably.
As safe as houses
Conveyancing law, in essence, is any law which involves the transfer of a legally binding deed to a property from one party to another. The granting of encumbrances and mortgages also falls within the parameters of conveyancing law.
The conveyancing process is divided into two distinct parts, the first being the exchange of contracts between the two parties who are involved with the exchange. After this, the contracts are thoroughly reviewed by a reliable and trustworthy conveyancing solicitor.
Thereafter, the contract is then settled in the second stage of the process, which is aptly known as the ‘settlement’. It is at this point that the legal title to the deeds of the property is passed between parties and the equitable rights therein merge with the legally binding ownership title.
Signing the dotted line
If you are selling your home, then a conveyancing lawyer is a practical necessity to ensure that the various particular conditions which are required by law to be included in the contract of sale, are met with ease.
These conditions differ depending on each sale, but can include conditions such as the agreement of a settlement date which coincides with the purchase of another property.
Whatever the conditions, it is the role of the conveyancing lawyer to ensure that all the correct paperwork and details are ironed out before the required date, and that the transitional period thereafter runs as smoothly as possible.
For those who are purchasing a property, the role of a conveyancing lawyer is of equal importance in ensuring that all the necessary legal requirements are met. These include making sure the buyer is made aware of the requirements of the contract of sale, as well as the conditions contained.
The conveyancing solicitor can also sometimes assist a buyer with the necessary financial arrangements and ensure that the buyer’s bank receives all the documentation which is required, assisting them with the arrangement of a mortgage.
Another element of a conveyancing solicitors role is to make sure that the buyer of a property is only paying the associated costs of the property after the agreed date of sale.
This makes certain that the buyer does not receive a hefty bill for amenities such as gas, water or council tax, prior to the agreed handover of the deeds and the property legally becomes theirs.