Conveyancing
PROPERTY CONVEYANCING SOLICITORS IN BOURNEMOUTH
Bournemouth solicitors provide a fast and efficient conveyancing process whether for buying, selling or remortgaging and whether a property is freehold or leasehold. We are also adept at reducing the risks of a “roadblock” scuppering ae transaction by providing value added services as follows, which in our experience separate the good conveyancers from the not so good :-
1. Keeping in touch with all parties, including estate agents and others in the chain on a proactive basis
2. Dealing with any issues which arise to satisfy lenders speedily and efficiently
The process on a typical conveyancing transaction is :-
Receipt of Instructions
Sellers’ solicitors obtains id, funds and forms from sellers, buyers solicitors also checks id, obtains funds and applies for searches
Seller’s solicitors prepares contract package
It is crucial that all paperwork is assembled quickly, as this then puts the ball in the buyer’s court. At this stage, the buyer’s solicitors should be submitting searches to the local authority which will reveal planning permission applications, building regulations together with other searches perhaps including water and environmental
Buyer’s solicitor checks all search results and papers received from seller’s solicitors
Additional enquiries may be raised and the seller will need to deal with these efficiently. At this stage the buyer’s conveyancer may also amend or approve the contract, which will be in fairly standard form. The buyer should have a mortgage offer and deposit which will need to be deposited in clear funds with his/her/their solicitors. If there is a chain, all transactions need to be co-ordinated and this can be difficult and frustrating.
Contracts are exchanged and completion date set
This is the crucial stage, when a legally binding contract is entered into, deposit is paid and parties are fully committed.
Post exchange work
Buyer’s solicitors applies for mortgage funds for day of completion, transfer documents are signed by sellers and preparations made for completion. A financial completion statement should be sent by respective conveyancers to their clients and in the case of the sellers, a mortgage redemption figure applied for from the lenders
Completion & post completion
Buyer’s conveyancer sends the money to seller’s conveyancer, upon receipt keys are released, usually by estate agents and usually by lunchtime. Seller’s conveyancers pay off the mortgage and the buyer’s solicitor or conveyancers pay stamp duty if payable and register the new owners and any mortgage at the Land Registry.