Conveyancing is defined as the transfer of property ownership from a seller to a buyer.
Once a sale is agreed, both parties need to instruct a conveyancing solicitor or licensed conveyancer.
Their role is to essentially put the whole transaction together.
Using a conveyancer is, therefore, an essential part of buying or selling a house.
It’s one of the first questions the estate agent or property buying company will ask you.
If you’re selling at auction, you’ll need to have a conveyancer in place before your property goes up for sale. Auction buyers should also have a conveyancer in place to avoid costly delays.
In addition to the above, the buyer’s conveyancer will…
In addition to the above, the seller’s conveyancer will…
If you are in a chain, then then you may be using the same conveyancer to represent you as both buyer and seller.
Either way, they should understand that you may be new to the process, avoid legal jargon and make themselves available to answer any questions.
It’s worth noting that these kinds of occurrences are rare and the UK has one of the safest legal systems in the world.
Please also note that you’ll usually also need to work with a conveyancer if you are transferring equity or re-mortgaging your house.
Although it’s not always apparent, it’s worth knowing the difference between a conveyancing solicitor and a licensed conveyancer.
This is a legal professional that’s a fully qualified solicitor that often specialises in conveyancing.
They usually have a deeper understanding of inter-related areas of law which makes them useful if your case is a little more complex.
This is a legal professional licensed by the Council for Licensed Conveyancers (CLC).
They are specialists in property law only and do not deal with other areas.
Although they do not have the wider legal remit of solicitors, there’s an argument that using a Licensed Conveyancer has it’s a number of extra advantages.
They’re dealing with property transactions day-in-day-out and therefore have a profound knowledge of every eventuality that could happen with your house sale.
They also have to undertake a series of examinations to get where they are.
Generally speaking, you’re going to be paying less for a licensed conveyancer.
There are some lenders, however, that will only deal with certain conveyancing solicitors (usually the ones that have a minimum number of partners)
In these circumstances, conveyancers often work with solicitors in order to get over this issue. Or you may have to pay the mortgage lender’s legal representation fees yourself.
In our experience, many conveyancers will absorb the extra costs themselves to keep your business.
Similarly, on the rare occasion that an issue appears during the transaction, a conveyancer may refer the case to a specialist litigation solicitor from a different firm to handle.
Note that both conveyancing solicitors and licenced conveyancers must have professional indemnity insurance in place. This insurance will mean that you’ll be protected if anything goes wrong.