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Compare House Conveyancing Fees

The process of buying and selling a property is dealt with by a conveyancer. The reason a legal reprehensive need to be brought in to carry out this process is to deal with the legal ownership. House conveyancing handles the transfer of the title of the property. This enables the ownership to be legally transferred. Before doing this the conveyancer must check that everything is in order which can take as little as 1 day or 3 months and longer.

House Conveyance Process

Step 1 – Draft Contracts

The process begins once an offer has been made by the buyer. It is then the seller’s responsibility to have a contact drawn up. This will have details about what fittings and fixtures have been kept along with price agreed, boundaries, planning restrictions etc. An estimated completion date will be put on the contract but a large percentage of the time this is not met. There must also be an EPC (energy performance certificated included.

Once you receive the paperwork and contract you must carefully read to make sure everything is correct. That is a daunting prospect for many which is why a conveyancer is there to help you understand it. As well as going through the contract the conveyance will conduct checks and searches on the property.

Step 2 – Property Survey

It is advisable to speak with your bank or mortgage broker before starting to look for a property. This will give you an idea of how much you can spend. The mortgage company will give you an offer in principle. That is not a formal offer and only becomes one once a survey has been carried out on the property. Just because you can get a large mortgage does not mean that you have to stretch yourself to the limits. Always calculate into any mortgage an increase in interest rates once you come to re-mortgage. The likelihood is that rates will have increase by the time that you come to do this. You need to be sure that comfortably afford any rises once you come to re-mortgage to be on the safe side. The conveyance works on yours and the lenders behalf to make sure the property you are purchasing is worth the price you are paying.

If you are purchasing a property for cash you do not have to get a survey done. It is important to get one carried out to ensure that the building is of sound structural state and no hidden surprises. Surveys come in three different types; valuation, home-buyer`s report and structural.

What are the three different types of surveys?

1. Valuation: This is a basic survey to establish the valuation of the property. It is used regularly for purchasing a new build property or re-mortgaging. This survey will value the property and have a brief look around to make sure the property exists and is what is shown on the contract. It will not include if the property is sound structurally or not. If you are buying a resale property it is worthwhile investing in a structural survey. It will highlight any issues with the building so you can be certain you are getting a sound investment.

2. Home-buyer`s report: The survey which most people use is the home-buyers report. The surveyor checks the state of repair and highlights any issues which will cost money to solve. They will look for any subsidence evidence along with the condition of the windows and roof. Even though, this is an in-depth review of the property it does not fully inspect every aspect of the property.

3. Structural Survey: If you’re looking to purchase an older house or refurbishment property, a structural survey is essential. This is the most expensive out of the three surveys but it gives a completely comprehensive review. When investing your life savings and taking on thousands of pounds worth of debt there is no point taking any risks. This will provide you with an in-depth investigation into the property you are purchasing.

Step 3 – Exchange of Contracts

Once both parties are happy and have agreed everything in the terms it will move to exchange of contracts. Once this process has taken place there is no backing out as both parties are legally obliged to complete. A deposit is generally taken at this stage of between 5 – 10%. It is possible though if both parties agree that an exchange can take place with no deposit.

Step 4 – Completion

Exchange and completion can take place simultaneously. Most buyers exchange first and then complete up to a week after. This gives time for a final check and to arrange your moving arrangements. On completion date the balance remaining of the purchase price after exchange money is taken off is paid. If you are taking out a mortgage your solicitor will have to request this money from the mortgage lender. This process can take a couple of days so it needs to be requested early enough for it to be available.  Once the seller’s solicitor has received the funds via your solicitor the property is complete and you can move in.

It is the house conveyancer’s job to resister with the Land registry the ownership of the property. They will also arrange the payment of the stamp duty which you would have to pay as part of the completion monies.

How to Instruct a Conveyance

You can do the conveyance yourself if you have enough time to spend learning the complicated procedure. Most people would choose to avoid this to avoid a problem occurring. That is why 99% of people use an expert to handle this on their behalf.

A conveyancer is a solicitor that is an expert in property law. The industry is regulated in Wales and England by the CCL (Council for licensed conveyancers). You can instruct a solicitor to carry out the work but a conveyance is generally cheaper. If however, you encounter any legal matters which are not subject to property law you will need a solicitor.

Solicitors are able to carry out work for conveyancing and are able to help with laws in other areas. That been said a conveyance is better as they specialize in property related law.

House Conveyancing Costs

When deciding on a conveyancer it is helpful to choose one which is located near the property. This is because they will know the area in which you are purchasing or selling. You can compare house conveyancing costs by using our website. Another advantage is that you will be able to read the feedback for each company. That way you can pick one that has been highly recommended by other customers.

Conveyances costs can be high depending on the type of survey you and property you are buying. It is important to compare fees to make sure you are getting the best deal. When presented with quotes always check that everything is included and there are no hidden disbursements or costs. Our comparison website shows a full breakdown of the full costs. What you are shown you will be charged with no hidden surprises along the way. All the companies on our website offer a no sale, no fee service. This means that if the purchase or sale was not to go ahead there would not be any charges.

When you come to sell your house to avoid any surprises make sure to factor in the costs of legal work. The best form of contact to have is fixed price conveyancing. This means that the price which you are told will not go up or down. That way you can work out exactly the cost of moving home. We have made our house conveyance comparison website completely transparent and in a manner which is simple to understand. Our online service means you can find the cheapest and best conveyancers in the UK.

Online House Conveyancing

You can use our online house conveyancing to be able to track your case any time of the day. You will be able to see real time up-dates to see if there are any problems. This saves you time from having to call the case handler all the time to find out what is going on. A number of our conveyance firms will also update you via text and e-mail should you desire. A number of documents will require your signature which will be posted to you. You will have to have your signature witnessed in order to complete the transaction.

Find the Cheapest and Best Property Solicitors Online

We have teamed up with the best property solicitors across the UK. This means that consumers are able to compare house conveyancing fees online. You can check the feedback of each solicitor to find the best prices and best service. Once you have found the solicitor you want to instruct you can do it online in a matter of moments. It is simple and easy to use plus it will save you time and money.

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