Your Local Conveyancing Solicitors In Llanelli

Conveyancing

Conveyancing is the branch of the law specifically relating to moving home. Conveyancers are the solicitors who deal with this for you. A conveyancer will go through the legal processes required to transfer ownership of a property from one person to another. It ends once the final contracts have been signed and the money has been transferred to complete the purchase.

Llanelli estate planning services

One of the first things we at Kirsty’s Law will do when instructed is to conduct vital searches with organisations, including local authorities and utility companies. This is to ensure that there are no building plans afoot which may affect the value or kerb appeal of your house. 

If you are selling a house, we will first confirm your instructions by letter, setting out the terms and conditions of business and the fee costs. We will then confirm identity checks and send out fittings and contents forms along with property information forms for completion. If the property is leasehold, extra information will be required. You are required to fill these forms in. 

We will obtain the title deeds to the property from the deed’s holder or official copies of the title register and any other documentation required from the Land Registry and any details of outstanding mortgage. 

We prepare all the documentation including the draft contract and send it to the buyer’s conveyancer, we also raise any pre contract enquiries with the buyer’s conveyancer. At this stage we and the buyer’s conveyancer answer any pre contract enquiries. 

We then wait for the buyer’s conveyancer to confirm they have acceptable results from their searches, are happy with the answers given to the pew contract enquiries and have a mortgage offer in place.

At this stage a date is fixed by the buyer and yourselves for completion and contracts are exchanged. This means that both parties are legally committed to the sale. If applicable we will obtain a settlement figure to repay the outstanding amount on any outstanding mortgage or other debt secured on the property. 

On completion you must vacate the property at a pre agreed time and make arrangements to hand over the keys. This is usually done via the estate agent.  The buyer’s conveyancer will send the proceeds of the sale to us and we will arrange for the keys to be released to the buyer. We then pay the estate agent if one was used, repay the full amount to the existing mortgage lender and take payment for our conveyancing services. 

Once all payments have been made the remaining funds are transferred to your account, usually by bank transfer on the day of the sale.

If you are buying a property, you must first make an offer on the property and wait for this to be accepted by the seller. We will instruct upon acceptance of the offer. You must also arrange a survey on the property and make an application for the mortgage if you require one.

We confirm instructions by letter setting out the terms of business and the costs. We then contact the seller’s conveyancer to obtain the contract pack.

We will check the contracts pack, raise any pre contract enquiries, carry out the necessary searches and obtain a copy of the mortgage offer.

The seller’s conveyancer and the seller answer any pre contract enquiries and return these to us. We review these and report back to you on the contents of the contract pack, pre contract enquiries and the results of the searches and mortgage offer. You then consider this report and raise any questions on anything that is unclear.

When you are happy to proceed, arrangements are made for the deposit to be paid to us in readiness for the exchange of contracts. The seller and yourselves agree on a completion date and contracts are formally exchanged, meaning that both parties are legally committed to the transaction.

We prepare a draft transfer deed and completion information form and sends these to the seller’s conveyancer for completion. The seller’s solicitor approves the draft transfer deed and a final copy is made. This may need to be signed by you before being sent to the seller’s solicitor for signature by the seller in readiness for completion.

We prepare a completion statement, carry out pre completion searches and apply to your mortgage lender for the mortgage loan. 

On completion we send the proceeds of sale to the seller’s conveyancer and the sellers conveyancer releases the keys to the estate agent, they also send the title deeds and transfer deed to us together with an undertaking to repay any existing mortgage.

If stamp duty is due, we send this to HMRC. We receive the title deeds, transfer deed and proof that the seller has paid the outstanding mortgage on the property. We register the property in your name at the land registry.

You will receive a copy of the registered title from the Land Registry. Any documents required by the mortgage lender to be retained by them are sent on by your solicitor.

There are lots of things to think about and do when buying or selling a house but with Kirsty’s Law in your corner as your conveyancing partner, you can be sure that every stage of the process will be thoroughly managed and professionally done.

The process of conveyancing begins once an offer has been accepted on a property and can vary from case to case. The rule of thumb used to be that if you’re not in a chain you could look at less than three months but the housing market is so saturated these days that everything is taking longer than it used to. If you are in a chain, it’s not unusual for the process to take six months or longer. All solicitors are qualified to undertake work of this kind, but not all are experienced in it. At Kirsty’s Law we have experience in conveyancing for many satisfied, happy clients.

It is certainly true that if there is no chain then there is an expectation by all parties that the transaction will move faster, but we still do encounter problems out of our control. Perhaps Probate needs to be granted in the first instance.

The cost will vary but is affected by the value of the property and the legal complexities that are anticipated. You can expect to pay more if the property you’re buying is a flat rather than a house, simply because there is more for your lawyer to consider. There are also other fees to consider in the conveyancing process.

Searches usually take 2-3 weeks to be returned to your lawyer but do bear with them. Your lawyer will have instructed a third party to commission searches for you.

If you are mortgage dependent, we’re obliged by your lender to carry out ‘all usual and necessary searches’. Consideration is given to the property’s location and additional searches such as coal and chancel repair will be considered. If you’re not mortgage dependent, any searches are up to you.

All usual and necessary searches are carried out by your mortgage lender. If you are not buying with a mortgage, the searches provided are completed your decision although it is something we would always recommend.

It’s difficult to say exactly how long the conveyancing process will take as it varies from purchase to purchase. However, on average, conveyancing should take between eight and twelve weeks.

Buying a property with a mortgage requires certain searches to be taken out before the transaction can go through. These include flood risk assessments, local authority searches and environmental searches.

There are a few things to remember, such as having important mail redirected as soon as possible and updating your driving licence with your new address. Remember also to take meter readings and inform all utility providers.

On your checklist for moving home you should have contacting your utility suppliers, getting quotes of removal costs and settling up all bills and council tax still owed on your current property.

Usually, the length of time of the conveyancing process is something that is beyond your control. However, things such as getting your mortgage in principal before you begin your property search and making sure that you action requests from your lawyer once you have instructed them can all help.

Unfortunately, there is no way to speed up conveyancing searches.

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