The Conveyancing Process Made Simple: A Home Buyer’s Guide

Posted on August 9, 2016

The legalities that go hand-in-hand with purchasing a property of your own can be difficult to grasp, but understanding these and conveyancing as a whole will ensure you go into the buying process with your eyes wide open. As time served Sunderland estate agents, we have helped thousands of commercial and residential clients make their mark on the local property scene and now we’re here to help you make sense of the conveyancing process by answering some of the most frequently asked questions on this subject. Read on to discover more…

How is the term “conveyancing” defined?

Conveyancing is the legal and administrative processes that go into transferring the property ownership titles of a plot of land or building from one party to another. These processes begin as soon as you make an offer on a property and it gets accepted, and continues until you have signed the contracts and handed over the money that you offered. Conveyancing is handled by the solicitor, property lawyer or licensed conveyancer that you hire to act on your behalf, and many solicitors specialise in this area of expertise.

What steps will my representative go through to complete?

Choosing a solicitor or lawyer with specific expertise and qualifications in conveyancing is vital, after all, as you will see, conveyancing is particularly complex. The process begins with the completion of vital searches with local authorities and utility companies, which will reveal whether any building works are due to take place in your new property’s vicinity, if any sewers run close to the property and if the area in which the property is located is deemed at risk of flooding.

Another integral part of your representative’s role is to advise you on any costs that will be incurred as a result of you buying the property, this includes stamp duty. Your representative will also check all contracts drawn up and delivered by the seller’s representative, documents that will state every last detail of the purchase from the sale price to the boundaries of the property.

What is the average cost of conveyancing?

The overall cost of conveyancing will depend on the value of the property you are looking to buy, the sale of a flat is certain to be considerably less complicated than the sale of a mansion. On average, conveyancing costs will be approximately £850; online conveyancers are available for a reduced fee but the quality of service may vary. It is possible to undertake your own conveyancing, however you may find that £850 is a small price to pay for a complicated and time consuming task.

Enough about conveyancing, you need to find the home of your dreams first! Check out our diverse property portfolio to get started and please don’t hesitate to contact our Sunderland estate agents for further details.