Solicitors and Conveyancing from ACC Associates
Conveyancing is the legal name given to the transfer of a property from one person to another when buying and/or selling your home or investment property – these are the legal matters normally dealt with via your solicitor and conveyancer. The property can be freehold or leasehold – most houses are freehold whereas most apartments and flats are leasehold in England and Wales. Conveyancing is usually dealt with by a solicitor and conveyancer (these are normally one and the same thing in) – the solicitor and conveyancer acting on your behalf must ensure they obtain a “good title” to the land. “Good title” means the person selling your new home or property has the right to sell and there is nothing that would prevent you from obtaining a mortgage or re-selling it in the future.
Your next step for reliable and speedy solicitors and conveyancers
ACC Associates can provide you with details of reliable, trustworthy and proactive solicitors and conveyancers to take care of your conveyancing matters at a time that suits you. So why not call us on (01249) 599019 to help ensure the legal matters involved in your sale and/or purchase of property doesn’t result in you feeling like pulling your hair out! Read on to learn more about the conveyacing matters or why it is so important to use a reliable conveyancer solicitor for your property transaction.
The importance of using a reliable, trustworthy and proactive solicitor and conveyancer
Conveyancing might seem like a bizarre idea, but actually it’s pretty straightforward – but as in many other instances in life, it can be made more complicated than it needs to be if you choose the wrong solicitor and conveyancer. Thanks to our knowledge, experience and attitude we understand the position you may find yourself in with regards to buying your new home or investment property. However, we are aware that quite often you may find yourself in the position where your mortgage advisor has arranged your Mortgage Offer in a speedy manner taking your needs in to account, only to find you are dealing with a solicitor and conveyancer who appears to not understand your needs in possibly wanting your transaction to take place as soon as possible (for example) – despite your explanation when you instructed them! Over the 15 years we have built up a network of connections which include solicitors and conveyancers who work to the same high level of customer service as ourselves to ensure you get what you want and pay for! Our solicitor and conveyaning connections mean we can offer you competitive prices without neglecting the quality of service you expect in these technologically advanced times. By taking advantage of the solicitors and conveyancers we can introduce to you, we can ensure your needs are met throughout your transaction to ensure the whole process is as stress free as possible and you aren’t wasting your time chasing solicitors or conveyancers whilst you’re trying to do your job! Go to the ACC Associates testimonials page to gain a small insight into how having the right parties involved in your property sale and/or purchase is of great importance.
The legal matters undertaken by your conveyancer and/or solicitor
As mentioned above, conveyancing might seem like a bizarre idea, but actually it’s pretty straightforward. Under English and Welsh law, an agreement for the sale of land is not legally binding until “exchange” of contracts takes place which is part of the conveyancing. This is the point where you are legally bound to buy the property or land. Before this you (and the other party in the transaction) have the advantage of being able to withdraw from buying or selling, but also the disadvantage of wasted time, money and quite often cause heartache in the event that an exchange of contracts does not take place and you lose your new home or investment property.
ACC Associates can provide you with details of reliable, trustworthy and proactive solicitors and/or conveyancesrs to take care of your conveyancing matters at a time that suits you. So why not call us on (01249) 599019 to help ensure the legal matters involved in your sale and/or purchase of property doesn’t result in you feeling like pulling your hair out! Below you will see our conveyancing buying and selling guide – we want to ensure you are not kept in the dark regarding the legal matters involved in the buying and/or selling of your property.
Conveyancing – ACC Associates guide to buying your new home or property
Step 1 – Instruction of your solicitor and/or conveyancer
As soon as we instruct the solicitor and/or conveyancer to complete the conveyancing, they will contact the sellers’ (also known as vendors) solicitors and/or conveyancer and request from them the contract papers which will typically include:
1) Draft Contract
2) Proof of ownership, usually a title information document
3) A property information form which comprises questions of a standard nature answered by the seller
4) A fixtures fittings and contents list, completed by the seller
5) If the property is leasehold, more information about the terms of the lease
Step 2 – The Searches to be completed by your solicitor and/or conveyancer
1) Searches will be completed to ensure that your new home or investment property is an appropriate one for you to buy. Your solicitor and/or conveyancer will need to check with the local authority, with the water and drainage departments and, for example, the Coal Board if the property is within the Coal Field, as well as requesting any other specialist searches as required.
Step 3 – Mortgage Offer
1) If you are taking a mortgage as part of this transaction, then the solicitor and/or conveyancer will require their copy of the mortgage offer so that they can review the document and study any special conditions. The mortgage offer will be sent to your solicitor and/or conveyancer at the same time as you and your mortgage broker receive theirs.
Step 4 – Signing the Contract/s
1) Once your solicitor and/or conveyancer has all the documentation listed in Steps 1 to 3 above, they will contact you regarding the signing of the contract. You may go into the office, in which case your solicitor and/or conveyancer will discuss the details with you, or they can send it to you in the post with a detailed report on contract. If you are happy with all the details, your solicitor and/or conveyancer should be ready to exchange contracts, subject to receiving any money from you in respect of the deposit you are providing for your new property. If you are selling your home or property as part of this transaction – don’t worry as this last part with the deposit funds will take place at the same time as your sale.
Step 5 – Negotiating Exchange Date
1) When you and the seller/vendor are ready to proceed to exchange of contracts (this is where you are legally bound to buy the property), the completion date (moving date) is agreed. If there are several people in the chain this date may require negotiating and a date agreed that everyone is happy with. At this stage, any party is still free to walk away from the transaction as contracts have not yet been exchanged.
Step 6 – Exchange of Contracts
1) Once a completion date has been agreed, your solicitor and/or conveyancer is able to exchange contracts. As mentioned above, once contracts have been exchanged, you are legally committed to the property purchase and cannot withdraw from the transaction without incurring major expense. You can now confirm the arrangements and dates with your removal company.
2) If you are buying a freehold property, you will need to have in place a minimum of buildings insurance on your new home or investment property. We can take care of this matter for you and ensure your solicitor and/or conveyancer has all the documentation they require regarding this to avoid any potential delays.
Step 7 – Completion
1) This is the exciting day you receive the keys to your new home or investment property. Your solicitor and/or conveyancer will send the balance of the purchase price to your sellers’ solicitor and/or conveyancer, and once they receive the funds, the keys will be released to you by the estate agents (unless other arrangements have been made).
2) You are free to move in or have your tenants move in to their new home.
Delays can sometimes occur in the transfer of money and this can delay the release of keys to you – hence another reason to ensure you use a reliable and proactive solicitor and/or conveyancing firm.
Conveyancing – ACC Associates guide to selling your home or property
Step 1 – Instruction of you solicitor and/or conveyancer
As soon as we instruct the solicitor and/or conveyancer to complete the conveyancing on your behalf, they will send you a:
1) Property information questionnaire
2) Fixtures, fittings and contents list
3) Leasehold information questionnaire (only if the property is leasehold)
You need to complete these forms in full, providing accurate information and full answers to the best of your knowledge. These forms will be sent by your solicitor and/or conveyancer to the buyers’ solicitor and/or conveyancer – your buyers may be entitled to take action against you if you provide incorrect answers.
Step 2 – Title Deeds
Your solicitor and/or conveyancer will need to obtain the Title Deeds. If you have a mortgage these may be held by your mortgage lender. If you do not have a mortgage, you should know the whereabouts of your Deeds. Once you have supplied your solicitor and/or conveyancer with your existing mortgage account number/s they can request the deeds and an initial redemption figure. Your solicitor and/or conveyancer will provide your buyers’ solicitor and/or conveyancer with a copy of the Title Deeds to prove that you own the property and to show them any conditions, covenants or rights that affect the property.
Step 3 – Information pack sent to your buyers’ solicitor and/or conveyancer
Once your solicitor and conveyancer has received all of the above items, they will send an information pack to your buyers’ solicitor and/or conveyancer. This will consist of:
1) Your completed forms
2) A copy of the Title Deeds
3) The draft contract for approval
At this point your solicitor and/or conveyancer will await a response from your buyers’ solicitor and/or conveyancer and respond to any queries raised. Once your buyers are happy, you are ready to proceed to a formal exchange.
Once your solicitor and/or conveyancer knows that your buyer is ready, or almost ready to exchange you will need to sign the contract. You may go into the office, in which case your solicitor and/or conveyancer will discuss the details with you, or they can send it to you in the post with a contract that will require your signature.
Step 6 – Exchange of Contracts
If you are happy with everything, then you, and your solicitor and/or conveyancer will be ready to exchange contracts. At this stage the completion date becomes fixed and the contract becomes legally binding.
Step 7 – Sign the Transfer
Your solicitor and/or conveyancer will contact your mortgage lender (if you have one) to obtain a final redemption figure, calculated to the completion date. Your solicitor and/or conveyancer will ask you to sign the transfer.
Step 8 – Completion
This is the day that you actually move home or sell your investment property. Your solicitor and/or conveyancer will receive the sale proceeds from your buyer’s solicitor and/or conveyancer and use this to pay off any mortgage you have against the property and to pay the costs of the sale i.e. your estate agents’ fees (if applicable) and legal fees payable to your solicitor and/or conveyancer. Any remaining money will then be sent to you, unless it is being used to fund a new home or investment purchase.
When you vacate the property you should deposit the keys with your estate agent (if applicable), unless other arrangements have been made. Once your solicitor and/or conveyancer has received your funds, they will instruct the estate agents (if applicable) to release the keys. Your buyers will then own the property and can move in or let the property.
Your next step to finding the right solicitor and/or conveyancer to meet your needs
ACC Associates can provide you with details of reliable, trustworthy and proactive solicitors and/or conveyancer to take care of your conveyancing matters at a time that suits you. So why not call us on (01249) 599019 to help ensure the legal matters involved in your sale and/or purchase of property doesn’t result in you feeling like pulling your hair out!