taking the stress away from buying and selling a house
How can we help you?
We understand that buying or selling a house is a significant milestone in your life, and we are here to ensure the entire process is smooth, efficient, and stress-free.
At AmicusLaw we are dedicated to handling your conveyancing matters with expert insight, care, and professionalism. Whether you’re a first-time buyer keen to embark on your journey to homeownership, or a seasoned seller looking to maximise the value of your property, our conveyancing team is here to help you every step of the way; from property searches and legal paperwork to contract preparation and negotiation.
When it comes to buying or selling your house, we pride ourselves in our ability to deliver to you the best quality service, with our in-depth knowledge of the many intricacies involved in the conveyancing process. Our goal is to provide you with a seamless experience, allowing you to fully appreciate the excitement of buying or selling your house, while we deal with the details.
When you choose the conveyancing team at AmicusLaw, we will work tirelessly to protect your interests, ensuring that your rights are safeguarded and that your transaction is completed in a timely manner. With our utmost attention to detail and commitment to client satisfaction, you can rest assured that we will handle your conveyancing needs with professionalism and care.
How we can help you
If you are looking to buy or sell a home it can be a daunting prospect, fraught with uncertainty and stress.
This is when you need to turn to Somerset conveyancing solicitors AmicusLaw, specialists in legal services for buying and selling private properties and with local offices in Bridgwater, Minehead, Wellington, Yeovil, Martock, Exeter, Taunton and Ilminster. Your personal conveyancing lawyer will take you step by step through every important point in the conveyancing process.
CONVEYANCING TERMS - WHAT DO THEY MEAN?
At AmicusLaw we communicate with our clients in a clear a simple way to avoid confusion caused by usual legal jargon. For example, replacing “vendor” and “purchaser” with “seller” and “buyer” suddenly everything becomes a lot easier for to understand. Here are brief explanations of some of the more common terms used by conveyancers that you may find helpful.
The client care letter sets out all of the terms and conditions between yourselves and your conveyancer. This is often accompanied with a questionnaire and various forms for you to complete and return together with a terms of business for both parties to keep.
Containing the sale contract and title documentation including replies to standard pre-contract general enquiries, a fittings and contents form, copies of planning consents, guarantees and any other relevant documentation. This helps prevent delays and enquiries being raised unnecessarily.
The legal document by which title to the property is transferred from the seller to the buyer. This is usually prepared by the buyer’s Solicitor.
Searches made before exchange of contracts with the relevant local authorities to inspect the local land charges register in respect of the property and to raise a standard set of enquiries about the property. This should give details of the planning history of the property and reveal such things as whether the building is listed or in a conservation area.
Other standard searches include an environmental search and drainage and water search.
Enquiries made by the buyer’s Solicitors before exchange of contracts. These are generally based on the title to the property and raise anything from planning, proof of guarantee/certificates, water/drainage etc.
A mortgage offer is a formal document from a lender that outlines the terms of a mortgage loan they are willing to provide to you. It will typically include the following information:
- The amount of money you are eligible to borrow
- The interest rate you will be charged
- The term of the loan (the number of years you have to repay the loan)
- The monthly payment you will be required to make
- Any fees or charges associated with the loan
- Any conditions that must be met before the loan can be finalised, such as a credit check
A mortgage offer is a conditional agreement, meaning that the lender is not obligated to provide you with the loan until you have met all of their conditions. However, it is a strong indication that the lender is willing to work with you to finance your home purchase.
In a conveyancing transaction, a deposit is a sum of money that the buyer pays to the seller as a sign of good faith and to secure their commitment to buying the property. It is paid when the buyer and seller exchange contracts, which is the point at which the sale becomes legally binding.
Exchange of contracts is the point at which the transaction becomes legally binding. This is a significant milestone in the process, as it means that both parties are now committed to completing the transaction.
Once exchange has taken place, the buyer is liable to pay the deposit to the seller’s solicitor, and the seller is liable to transfer ownership of the property to the buyer on the completion date. If either party fails to complete their obligations after exchange, they may be sued for breach of contract.
It is important to note that exchange does not mean that the buyer can immediately move into the property. This will not happen until the completion date, which is typically two to four weeks after exchange although in some circumstances this can be achieved on the same day.
Completion is the point at which the sale of a property is legally finalised.
On the day of completion, the buyer’s solicitor will transfer the purchase price to the seller’s solicitor. The seller’s solicitor will then release the keys to the property and send the buyer’s solicitor the transfer deed, which is the document that legally transfers ownership of the property to the buyer.
Once the buyer’s solicitor has received the transfer deed, they will register it with the Land Registry. This is the final step in the conveyancing process, and it is the point at which the buyer becomes the legal owner of the property.
Change of address checklist
It is a good idea to start changing your address when you have exchanged contracts. This will give your old address time to be updated on all of your accounts. You may also want to send out a change of address announcement to your friends and family.
We hope this checklist is helpful!
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