Conveyancing is finding the correct solicitors for you to help you with the purchase or transfer of your property. They will ensure that all of the documentation is prepared properly and contracts are exchanged. This is what makes the purchase legally binding.
Most lenders will insist on having the property conveyed before the mortgage will be finalised. This gives the lender more security on the loan amount.
The conveyancer will do numerous things to help the process. This includes conducting property searches to ensure that there is nothing wrong with the property. As well as this ensuring that there is no legal problems with the property itself or with the contracts being signed and exchanged.
As well as this the conveyancer will also make sure there are no liabilities with the property. This could be liabilities such as financial problems from the previous owners. As well as this if the property is likely to have structural problems that may need to be taken care of before you purchase the property. Also if the property may be liable to flooding which the conveyancer would also be checking for.
The conveyor will go through all necessary details that are involved with the property:
- Searching for the property
- Buying to let
- Working out rights