Friday, June 21, 2013

Know Why You are Paying Conveyancing Fees

Are you worried about the financial issues related to the conveyancing procedure? Well, when it comes to deal with your property all these financial issues turn high. However, you need to keep patience and understand the requirements for which you are going to pay such a lofty amount to your solicitor. Therefore, you must know about the conveyancing process.

Know Why You are Paying Conveyancing Fees


Here are the basic steps-

Letter for giving instruction
If you are planning to sell or buy a property, you need to have an instructor or solicitor to help you get licensed conveyancing. The conveyancers help you transfer the legal ownership of the property. To do this, you need to sign out a letter of instruction. This makes the representative authority ready to deal with all the actions that need to be done. Your sign gives them the authority to prepare all what is needed to be done.

Searches


There are some searches that need to be done before you go for signing the final contract.

Local authority search


This primary searches are done by the local council to make sure that there is no concern or issues raised against the property and the property is flawless. There can be issues, like road schemes, enforcement orders, purchase orders or other such planning permissions that can effect upon your property deal, so this search is quite an important issue.

Mining search


While buying property in certain specific areas, you need to go for mining search. The search is done to identify whether the location where the property is situated had been involved with some mining work in the past or not. The search is done on the basis of the geological situation of the property.

After the searches are done and the property gets a clean cheat, the exchange of contracts is planned. The issues related to mortgage, remortgage and equity are resolved in between by them. Dates are being finalised and you go to sign the agreement to take the charge f the property.

So, you can understand how complicated the procedure is that the conveyancers deal with and instead you can just stay relaxed. You will get a calculator from which you can calculate the amount to be paid to the solicitors. Even, you can have an appointment with them to make them realise the whole situation that you are worried about and instead they will help you come out of the complicated conveyancing process at the best.

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