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Archive for the ‘Property Conveyancing’ Category


The Property Owner in Conveyancing | Friday, March 23rd, 2012

Conveyancing is a process that involves a number of parties that include the buyer, seller, solicitor and witnesses. The individuals that are involved in the housing businesses have to meet certain personal and functional requirements in the transfer of ownership of property. There are a number of reasons that might influence the sale of a given property and in each case the factors in regards to the sale are different. In the property field, there are several investment opportunities that might arise in a given location thus leading to development of the acquired land.

Conveyancing can have the terms determined by the owner of the property since they have lots to determine the sale of the property. In most cases people usually associate the seller with setting the price of the property, but there is a lot more that is involved in the conveyancing on part of the buyer. The seller is a very important participant in the conveyancing process and the deals that are involved in the process. The initial and mid stages of the conveyance usually rely on the  property owner quite a lot since it involves the double checking of documents that are presented in the process of marketing and research on the property.

The relation between the seller and the local housing authorities, the local councils, the contractor as well as their financial agent had lots of say on the sale of the real estate property. There is a huge number of individuals that sell their property due reasons such as a failing mortgage or an unmanageable debt. Knowing the conditions that surround the property in form of debts and taxes should be quite helpful in a conveyance deal since it allows the buyer and seller to settle on a deal that is mutually beneficial. Property that has lots of debts attached to it might not be the best real estate investment to acquire but the solicitor should look through the condition of the property before deeming it bad for purchase.

Cheap house deals can be gotten from a number of sources such as the reclaimed houses. There is a lot that has happened over the years in acquisition of the real estate property with a huge number of people looking to sell their property to make sure that they do not soil their credit records with their banks. Conveyancing solicitors will help one in showing the history of ownership of the house and thus help in knowing the financial condition of the property to acquire.

Another reason why it’s possible to find cheap real estate property is the condition of the house. Usually as a house or any other product ages, the more value it loses and thus this leads to a lower price on reselling the property. In housing, if the conveyancing deal involves a deplorable property, then the cost that is paid to the owner is quite low based on the fact that repairs. The solicitor should account for this in advising their client when engaging in the conveyance.

What you will need during the Conveyancing Process | Saturday, July 17th, 2010

If you are a seller who is preparing their house for the buyer you will need to consider collating the information required for the conveyancing process. This is basically all of the information about the house as it applies to any outstanding mortgages or monies owed, the forms required for the conveyancing process and information required to draw up the contracts that are going to be required to transfer ownership. Of course you will also need your deed of ownership that stipulates that you actually own the property and have the right to sell it. This may not seem like a great deal, but when you break it down it is easy to see why it takes so long to go through the conveyancing process as any information that applies to the house is needed in order to finalise the sale.

It is wise to start by getting together the easily obtainable information. You probably have (or you should have) the title deed for the house locked away safely in a filing cabinet. The solicitor that oversaw the purchase of the property should also have a copy of this in the event you can’t find it. This should be step one of the conveyancing process – ensuring you have a copy of this document. Next, get any information that you have conglomerated while having the property on the market. This will include things such as surveyor reports, real estate documentation and things that specify what the house is worth and why it is worth the amount that has now become the sale price. Alternatively, you might have been made an offer. Get this offer in writing and include it in the documentation.

If your property is mortgaged you will require some information from the bank. Get all of the information that you can as it relates to the current mortgage status. You will also have to let the bank know the particulars of the potential buyer to ensure they can allow them to take over the mortgage. If you are using the proceeds from the sale to finalise the mortgage, you will have to let the bank know. There may be a fee for paying the mortgage outright. After all of this and you have managed to get the basic information together you can start filling out the forms required to kick start the conveyancing process. I won’t detail all of the forms you will require here. You should consult a conveyancing firm from this point onward.

What is Conveyancing? | Saturday, July 17th, 2010

Conveyancing is designed to protect both parties (although it is most beneficial to the buyer or receiver of the title) in the event of a transaction relevant to the exchange of a land title. It can be a drawn out process that ensures that the buyer has the right to sell the title to the land and that there is nothing to suggest that the land is acceptable for resale at the behest of the buyer. It is also a formality for banks or lenders in the event the land is to be bought via a mortgage or long term loan. This ensures that if the person borrowing the money neglects to pay the money back – the banks have some option in regard to reselling the property to get their money back.

Other important reasons for conveyancing includes drawing up the relevant contracts for the buyer and seller that stipulate the terms of the sale. This is to ensure that the buyer is given the right to do with the land what they wish. If no agreement is made during this process it gives the buyer and the seller the opportunity to back out of the deal before anything is signed. The conveyancing process is a necessity in that it ensures a transparent means of equity transferral. Because purchasing land is a major expenditure on the part of the buyer, there needs to be a system in place that records all of the details of the exchange in order to allow the buyer and seller come to an adequate understanding as it applies to the deed of sale.

Conveyancing is also relevant in regards to the transferral of any mortgages or monies owed on the property that is being sold. As conveyancing is more akin to facilitating the transfer of equity from one person to another, a person may opt to take over the mortgage or loan repayments on the property if they are still outstanding. Because of the large time frame in which the process is undertaken and the many variables involved in the undertaking of the process, it is not a simple task. This is compounded by any outstanding loans of mortgages on the property as it will require a bank to sign off on the transfer of the loans. It is important that people who require this form of transfer deal with a buyer that has a clean credit history in order for the bank to allow the process to continue.

Solicitor versus Conveyancer for the Purposes of Conveyancing | Saturday, July 17th, 2010

There is not a lot of difference between a licensed conveyancer and solicitor. However, the minor differences can help you make an informed decision about whom you wish to use in regards to any conveyancing work you need done. The first thing to consider is price. Again, there may not be a great difference in what each charge. However, a solicitor is more likely to charge you a regular hourly rate as a solicitor – unless the solicitor specialises in conveyancing, then they may charge flat fees. A licensed conveyancer is more likely to charge you a flat fee then a little extra for getting the contracts finalised. The flat fee is sometimes relevant to how much the property is selling for or how much equity is being transferred in the conveyancing process.

A solicitor may have a broader understanding of specific legalities that apply in a broader sense. This can be useful in the sense that they can help you avoid legal pitfalls that are not specifically applicable to the conveyancing process. A licensed conveyancer will know all of the ins and outs of the conveyancing process and may have a better grasp of the legalities as they are applicable to conveyancing regulations. In this regard, both have their strengths and weaknesses. Although they are both probably adept at fulfilling the requirements of a conveyancer; one may be more specialised in the other. However, the other may not have a good understanding of external legalities that can apply to the process.

If you are selling a property or transferring equity as part of a business venture then you may be more inclined to use a solicitor that you have already working for your company. Although that is not to say that you can’t get advice from another source. Having a licensed conveyancer work hand in hand with a solicitor can yield excellent results. It will also ensure that if one or the other can’t fulfil a specific obligation within a certain time frame then the other can pick up the slack. This can help push the conveyancing process through a lot quicker. Although, you are still at the whim of the other parties that are required to process the paperwork so it may not be a huge advantage in this sense. Shop around, get some references if need be. There is no dearth in the amount of conveyancing experts out there.

Getting Cheap Conveyancing Quotes | Saturday, July 17th, 2010

Conveyancing fees can differ dramatically from solicitor to solicitor. Some will even charge you a percentage of the value of the property – which is ludicrous. That is why you should always shop around when you require the services of someone who can do your conveyancing for you. Licensed conveyancers can be a little cheaper but the price you are likely to pay for conveyancing services will be around the same price as that of a solicitor. That is why it is always advisable to get quotes from people who offer conveyancing services to ensure you are getting the right price. You will also want to ensure you get a flat fee instead of getting charged every step along the way during the conveyancing process. Many conveyancers will charge you for just signing a contract – however, it is worth noting that they are the people who are preparing the contract you are signing.

There are so many conveyancers out there that it may seem overwhelming at first. Start with a few conveyancers. Because there are so many conveyancers out there the market is quite competitive. Conveyancing has become a massive industry unto itself. So finding the right person for the job may be easier than you think. If you can’t find a reasonable price at first, keep looking. You will find someone eventually. It is just a matter of knowing what to look for when searching for the right price. You will probably see some dramatic differences in fee structures. Only after seeing how their fee structures work will you be able to accurately gauge what a reasonable price is. You may opt to pay a little more if the conveyancer is highly regarded. However, someone who is fresh to the industry may really know their stuff and will charge a little less in order to build a client base.

Never take the first quote as the best you will find. It may even help to play conveyancers against each other in order to get the best deal. Ensure you know what fees you are likely to incur and get something in writing. It may also help to get other conveyancers to look at other quotes you have received in order to see if they can match the price of another firm. Conveyancing is something every property buyer and seller has to go through in order to sell or purchase a property.