Buying a home can be both an exciting and daring endeavour at the same time. This is especially so if you are a first time buyer. However, with the consultation of a professional solicitor, you can rest easy as the expert will help you by explaining all the steps and requirements of a home buying process. The solicitor will also help you resolve any legal issues that may arise in the course of the acquisition.
The legal process of transferring property from a seller to buyer is referred to as Conveyancing. A lot happens during this process, with the exchange of legal ownership documents and payment being the main aspects of the conveyance. How long the process takes depends on the complexity of the transactions and number of buyers or sellers involved.
A solicitor will help you in the following ways;
Explain the Conveyance process to you
There are many aspects of home purchasing unknown to you. Without proper guidance on how the whole process works, you are bound to make mistakes that can be very costly in the end. A solicitor explains to you in detail how the house-buying process works, what you need to do on every step of the way, documents you require, and the challenges you expect to come across.
Conduct an Investigation of Title
Investigating Tile is a vital part of the legal investigation as to whether the property on sale is in a clear title of ownership. Your solicitor will conduct the relevant investigations to find out as much information regarding the property as possible. If anything out of the norm is identified, they will advise you in their legal capacity on what actions to take.
Exchanging the purchase contract
A purchase contract spells out the terms of purchase for the property in detail and creates a legal binding agreement between the seller and you. A contract is a very crucial part of the conveyancing process because if anything is misrepresented in the agreement before signing, it can be difficult to amend after appending your signature on the agreement. Your solicitor will help you go through the contract several times to ensure everything is in order. They will then help resolve any legal problems arising before the exchange of the contract as well as arrange for a date that you agree for the purchase to be completed.
Your solicitor will help you in the final process of legally transferring funds as agreed in the terms of the contract. They will work to ensure that you release the funds only after everything relating to the purchase is finalised. The solicitor will also help you to file the tax return and make arrangements for the payment of any land duties. They will also register you as the new legal property owner with the land registry. Whenever you are looking forward to make a legitimate property purchase, trust hiring the services of a professional solicitor to make your purchase smooth all the way.