Conveyancing Solicitors

Whilst you don't necessarily need a conveyancer or conveyancing solicitor to sell your home, there are some issues that can arise if you decide to take on the role yourself, and the consequences of getting things wrong can be severe. For this reason, most sellers trust expert conveyancing solicitors with the process.

Some of the potential issues that can arise with DIY conveyancing for sellers can include:

• If you are selling a leasehold property, the complexities associated with this type of sale are much more substantial than with a freehold property and often the owner of the freehold can insist that you use a solicitor or conveyancer for the house sale
• Some mortgage providers will insist that you use a professional conveyancing solicitor in order to protect their interests
• It is likely that you will not be insured against any mistakes or oversights that can occur during the conveyancing process if you take on the role yourself, which opens yourself up to the possibility of being sued
• If you have an outstanding mortgage, the buyer's solicitors may refuse to accept any 'undertaking' from you. An 'undertaking' is a legally binding agreement between solicitors or conveyancers that any remaining mortgage will be paid off using the proceeds from the property sale

With this in mind, whilst it is possible to carry out all of your conveyancing yourself, you may wish to seek professional legal advice in order to avoid any complications and give you peace of mind.

If you require a mortgage to buy the house, most lenders will only agree to let you borrow from them if you instruct professional conveyancers to handle the legal side of the transaction. There are many things that can potentially go wrong with a property sale if things are done incorrectly, and this can have serious consequences.

This is why most buyers will choose to let the experts handle the house-buying process and instruct experienced conveyancing solicitors with a track record of successful property transactions.

If you need a mortgage, a valuer will inspect the property on behalf of your lender to assess whether the property has a sufficient value to support the amount you want to borrow. You can usually arrange with the lender for a more comprehensive survey - we would strongly recommend undergoing your own survey or opting for the more detailed lenders report. Whilst the seller must not misrepresent any aspect of the property, he is under no obligation to disclose any defects.

Determining how long the conveyancing process will take from the outset can be difficult, as there are a variety of factors which can influence the timescale. Delays tend to occur if your transaction is in a chain of dependant sales and purchases; the more properties involved, the more likely the delay. However, your team of conveyancing solicitors we will keep you informed of developments as and when they occur.

Once contracts have been exchanged, the completion date (i.e. the date you move) is fixed. We will discuss and agree this date with you beforehand.

While it's not essential to use conveyancing solicitors in the area where you are buying or selling the property, it can be the case that the local property market knowledge can be of assistance and help the process go more smoothly. It's also the case that local conveyancing solicitors will have relationships with other local professionals, such as surveyors, which can also assist you.

The cost of conveyancing solicitors can vary, depending on a wide range of factors specific to the property that you are buying or selling or the way you're doing so. There could be higher costs for leasehold properties, or those that are part of certain schemes, but good solicitors will always ensure you're aware of the costs at every stage of the process.

At Forbes Solicitors, we offer fixed-price conveyancing fees and can discuss and explain the costs and expenses involved with you during our initial meeting, whether this is face-to-face, via telephone or other email. These will also be confirmed in the client care letter which we will send to you at the beginning of the transaction.

A deposit is paid to the seller's solicitor when contracts are exchanged. It is usually between 5% and 10% of the property price, but some homebuyers will put down a higher percentage of deposit to quality for a better mortgage deal and reduce the amount that they are borrowing in relation to the new property's value.