A solicitor conducts conveyancing, which is the legal transfer of a property between two parties – a seller and a buyer.
The costs of buying or remortgaging a home can add up quickly. Having the right solicitor on your side is worth their weight in gold and could save you a lot of money.
Your solicitor helps to oversee the legal process of the sale and/or purchase and makes sense of what can be described as a minefield to the inexperienced.
When deciding what solicitor to use, you need to get a sense of experience. They need to be empathetic towards your circumstances and importantly, have the capability to undertake the job you are paying them to do. Considering this, you need to carry out your own due-diligence and market research.
Finding a good solicitor
First go to family, friends, and colleagues to ask for recommendations as it’s the best way to judge one’s service. You can also ask your financial adviser or alternatively, ask us here at Bennison Brown.
We only partner with firms who have similar values to ourselves and can testify many times over as to the level of service given. You can also visit the Law Society’s Official Database which can help you find the ones nearest to you, and also understand their accreditations.
Estate agents may recommend solicitors to you, but before instructing them it is worth comparing quotes as some agents get hefty commission and/or introductory payments that can add hundreds to your bill. It could also work to your detriment that the agent knows the ins and outs of the transaction, compromising your negotiating position.
What do they do
There are numerous roles your solicitor will undertake, such as raising enquiries on the property through the local authority and other parties to understand if there are any building control or environmental issues you should know about.
They will raise enquiries with their counterpart to ensure all the necessary paperwork and documents have been provided to ensure a smooth transition. They will also undertake fraud checks, stamp duty disbursements and deal with legally registering the property.
It is possible to complete the legal process of buying a property in as little as 4 weeks, but it depends on the type of property you’re buying. Searches can take longer where there are concerns about the property or the land it sits on, so it is worthwhile to factor between 6-10 weeks for completion of legal work.
Remember, your solicitor’s role is to protect you so allow them the time they deserve to give you the best service!