Property Solicitors: What is Their Role in Your Big Home Move?
Property solicitors play a vital part in helping you move home, whether you’re buying or selling.
They take care of a huge number of factors involved in conveyancing – factors you might not notice but would mean the process would fall apart without them.
The pace your property solicitors work at dictates the pace at which you can move. This is why it’s vitally important to ensure you choose the right ones.
Solicitors are typically more expensive than conveyancers because they are legally qualified, so they can provide you with a fuller service. This would be beneficial in the event your move turns into a complex legal issue.
Buying a house
When you want to purchase your new property, your property solicitors will handle the contracts, conduct the necessary local authority searches, deal with the Land Registry and transfer the funds to pay for your property. They also find out the details of any chain you might find yourself involved in. You’ll need to get your solicitor involved when you’ve finished negotiating with your vendor and they’ve accepted your offer.
Selling a house
When you want to sell a property, there are significant aspects to be covered before you can proceed. Property solicitors are responsible for transferring ownership of the home to the new owner. Once you’ve accepted an offer on your house, it’s time to instruct your solicitors. They then obtain the title deeds to the home you’re selling from your mortgage lender. They will also carry out the transfer of funds and the exchange of contracts.
Buy to let
In the same way you’ll need a solicitor to act for you when buying a house you intend to live in, you’ll need one when purchasing a buy to let property. Before you can officially become a landlord, you need to complete all the proper procedures and paperwork. You’ll need to obtain a number of certifications and regulations. As these are more complicated purchases, you’ll need an expert solicitor who can help you through any potential surprise complications.
Tenancies
Property solicitors can help both landlords and tenants – both personal and commercial. This can be at the initial stages, when drafting tenancy agreements, or in the event of a dispute between and landlord and tenant. They can also help with possession proceedings against squatters or trespassers. Any conflicts arising from deposits can also fall under the duties of a property solicitor.
Remortgaging
In order to complete a remortgage – often to switch to a cheaper deal after your current one expires or to borrow money against a property – you’ll need the services of a solicitor. They’ll ensure that all official registrations with the Land Registry are completed, all property checks are completed and that your old mortgage is paid off.
Transfer of equity
An equity transfer involves the addition or removal of one or more people from the legal ownership of a property. It typically takes place after a relationship ends or someone wants to add a partner to their title deed. Depending on your specific circumstances, it could be a complicated process, so it pays to obtain the services of an experienced property solicitor.
Equity release
If you want to free up some money, equity release could be a way of doing so without selling your property. It is advisable to consult with a solicitor before embarking on an equity release scheme. Since there are so many of these plans available, a legal expert can help you make the right choice – that keeps you within the law.
Leasehold properties
The UK government has estimated that there are roughly 4.3 million leasehold homes in England (pdf). With the sheer number of them in existence, there is a good chance you may end up buying or selling one. Leasehold properties are more complicated to both buy and sell, so experienced property solicitors can help drive the process forward as smoothly as possible.
Property solicitors in Scotland
The rules for conveyancing are different in Scotland, so you’ll need to be aware of exactly what the legislation states before going ahead with a property purchase or sale. In fact, the rules are so different, in many cases, property solicitors are involved in the marketing of the property as well as all the legal processes.
If you require a property solicitor’s services for that big move or life event you have planned, First4Lawyers can help you find the right one for you. Just start your enquiry here, give us a call or request a call back at the top of your screen.
