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Posts Tagged ‘conveyancing solicitors’


The Difficulties Of The Conveyancing Process When Property Part Of Probate Sales | Sunday, April 1st, 2012

When considering the conveyancing process, one of the difficult areas for both the solicitors instructed to complete the conveyancing process and the individuals concerned, is when the property has been left in a will. The sale of this property by the individual is called a probate sale and it may come about for a range of reasons. The beneficiaries of the will may have been given the property between them and want to split their money evenly, they may already have a house and not want the hassle of a second one or they may just simply wish to free up the capital from the property. Whatever the reason for the sale, choosing a helpful and competitively priced solicitor to take care of the conveyancing process for you is essential to ensuring the transaction runs smoothly.

 

It is not uncommon for those looking to purchase a house and commence the conveyancing process to find that the property is owned by a man or woman who has passed away, and the property is being sold by the executors of their will. This changes the conveyancing process as it adds certain things onto the original aspects of the conveyancing process. For example, the solicitor responsible for the buyers conveyancing process will be required to obtain a copy of the grant of probate. Usually part of the conveyancing process that is performed by the solicitor involves registering the property with the land registry under the new owners names, but without a copy of this grant of probate the land registry will not allow this transfer.

There are benefits to purchasing a property from an individual who has passed away (or more accurately, purchasing it from the executors of their will). The main advantage is that the buying and conveyancing process can run a lot quicker and smoother as their is no chain, i.e. they are not waiting on the homeowner to move out or relying on the homeowners successful purchase of another house. However, there can also be disadvantages. On hearing a will, many beneficiaries will then begin to advertise the property for sale before they have actually obtained a grant of probate – which can understandably effect the conveyancing process and slow down the whole conveyancing process until it is obtained.

 

The conveyancing process and solicitors are not exactly well known for their speedy nature as it is, so a complication such as an unobtained grant of probate may make the conveyancing process even harder. Equally concerning, many solicitors commence the conveyancing process on behalf of clients having quoted an hourly rate – complications with regards to getting hold of the grant of probate may not only slow the conveyancing process down but may well end up resulting in higher charges.

 

The grant of probate is a document issued by the probate registry and as mentioned above, can have a big impact on the conveyancing process. For this reason it is always advisable to enquire early on in the conveyancing process or when considering making an offer on a property whether or not it has been obtained.

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.