Simple guide to how conveyancing works

What is conveyancing? The process involves the legal transfer of home ownership, from the Vendor (Seller) to the Buyer of the property. The conveyancing process starts when you have offered on a property and the offer has been accepted. Initially you would need to find a conveyancer that you want to work with, and instruct them to work on your behalf so that the legal ownership can be moved from the vendor to yourself the buyer.

Some questions you might want to ask the conveyancer you are considering using to complete your purchase. 

 1. Ask them for a quote?

Conveyancing prices vary considerably; usually they are more expensive the closer to London the conveyancer is based, so initially you do need to ask them to supply a comprehensive quotation before proceeding to instruct them.

2. Check firm is on your mortgage lenders panel? 

If you are buying the property using a mortgage, you will need to ask the conveyancer if they are on the panel for the lender being used. This is a very important question as you could start the process with them and find out they cannot act for you with the lender you are using.

2. Check if you need to physically visit the solicitor/conveyancer?

A vast majority of mortgage lenders will not insist that you visit the conveyancer in person, and will allow for the process from start to finish to be carried out by post or even online .If you are using a lender that is ok for you to complete the transaction through the conveyancer by post or online then you will not be restricted by location.
Location can have an affect on pricing, the further north you go the cheaper the conveyancing becomes in most instances. Some conveyancers are even offering totally paper free, electronic transactions, so if you are good with working on the computer this is a hassle-free way of dealing with the conveyancer.

3. Check who will be dealing with your case within the firm? 

Some firms consist of 2 or 3 people who work within the firm on conveyancing. Also, some firms do not specialise in conveyancing but offer all the other normal solicitor services, Immigration, criminal law and litigation etc. Then you have firms that are set up as pure conveyancing firms who only offer conveyancing and do not get involved with any other area of law. I have found that conveyancing only firms tend to offer speedier service as they are not distracted with other areas of law. You will need to ask who your point of contact will be and who will be working on your case. If your property is leasehold, enquire if the person dealing with your case had good experience in this area of conveyancing as this is more complex than a freehold purchase.

4. How you will get updates 

Another thing you need to ask is how you will receive updates. Will it be by post, email or online tracking if offered. Some of the more modern firms offer a log-in to a tracking system were you can see the real-time progress of your case. This has the added advantage of not having to try to get through to your conveyancer, and gives you peace of mind.

5. How much it will cost you if the sale does not go ahead?

There are various components  to the pricing of your conveyancing. The main admin legal fee pays the conveyancer for the time taken to deal with and complete your case; miscellaneous fees are searches, CHAPS payment fee, Land Registry, and so forth. Some firms will charge you the admin legal fee even if your case does not complete due to various reasons, plus any other fees paid out for on your behalf like searches etc. If possible, try to find a firm that offers a no completion, no fee service - if the property purchase fails you only pay for what the solicitor/conveyancer has spent out on your behalf (e.g searches) but no admin fee will be charged. This will alleviate some of the out of pocket expenses if the purchase fails e.g. the vendor pulls out.
Some firms will offer an indemnity policy that will cover all the costs off the transaction if it fails for any other reason than you pulling out of the purchase. These policies can cost from £10 to £50 and are well worth it if available.

6. In today modern society usually there is a way to check feedback of the solicitor/conveyancer you are going to use. Ask where you can review this.

There is no better way to check a firm's performance than by reading reviews . If your chosen firm is proud of its track record it will have no problem directing you to where you can find feedback from  past clients .

9. When do I need to pay for conveyancing fees?

It's important  to check when you'll be expected to pay the conveyancing bill - usually search fees are payable once the contract are received from the sellers solicitor, and these fees are non refundable unless an insurance has been taken out. In the majority of cases, deposits are collected either near exchange or on the day of the exchange of contracts. Disbursements need to be paid usually as and when they are ordered by your conveyancer. The final bill is usually paid on completion, and you will be sent a completion statement in advance of the completion date.

Please see my next post - it will be how to settle disputes, and who to contact if the firm does not listen to your issues.