What is Conveyancing?

It is important to appreciate that buying a property is not like buying a car or kitchen equipment. There are a lot of factors which affect property ownership and the owner's enjoyment of it.

The list is a long one and includes the rights of other people and the Local Authority. You could look at conveyancing as an insurance policy: One you have to take out ensuring you get what you expect in what is a very important transaction.

Remember, the principle underlying house purchase is 'buyer beware'. If the buyer does not take care to find out everything which might affect his purchase before the sale goes through, then he has only himself to blame.

There is nothing to stop people doing their own conveyancing if they feel they are up to it. But before embarking on such a hazardous course, it is worth thinking about all the time involved and where you have the required expertise. Very few people can cope.

Traditionally, solicitors have been the experts in conveyancing and they are far more likely to spot any problems that the amateur might not. Solicitors are regulated by the Law Society according to a strict professional code and are accountable for any mistakes they make. Nowadays, Licensed Conveyancers also provide a similar service and offer similar protection. Another practical detail is that the buyer's solicitor will normally be appointed by the lending institution to handle its side of the legal and mortgage process. This will usually make economic sense.

In theory, the solicitor's responsibility is to make sure that the all the legal formalities involved in conveyancing are observed. In practice, his responsibilities go a good deal further in that he is central to the administration of the conveyancing which often takes much longer than the legal work. He will be able to advise you on any issues related to the sale, such as the taxation aspects of your property ownership and explain all the legal jargon associated with the transfer of property.

There are two sides to conveyancing. Acting on behalf of the purchaser and acting on behalf of the vendor. A solicitor normally cannot act for both buyer and seller of one property at the same time.

Acting For You As The Seller - Your solicitor provides the following service:

In order to avoid delay later, as soon as you put your property on the market, the solicitor will obtain the deeds of your property in order to give the purchaser legal proof that you own it (in law' can prove good title'). If you have a mortgage, the deed will normally be with the building society, bank or other institution that is lending the money.

In order to sell quickly, he could also make 'local authority searches for you' for you, although it is normally the buyer's responsibility.

Reply to the buyer's solicitor's preliminary enquiries. He will receive a form and will probably require your help to fill in some of the details.

Reply to any questions that the buyer may have perhaps as a result of his enquiries (called 'searches') to the Local Authority, Land Registry and Land Charges Registry.

Make sure the money is available to buy your own property when it is required.

Acting For You As A Buyer, the solicitor provides the following service:

Obtain the deeds of the property to ensure good title.

Examine the draft contract.

Make preliminary enquiries of the seller's solicitor. These include questions about boundaries, whether the property is connected with the mains services and what fixtures and fittings are included in the proposed sale.

Make the necessary searches. These are really to establish that you are buying what you think you are buying. The onus is on the buyer to make sure there are no problems with the property, for example, new roads, planning restrictions on extensions to the property or public rights of way over the property. Normally the solicitor will contact the Local Authority to conduct a search and issue a certificate of their findings.

Enquire whether the house is covered by National House Building Council Guarantee. If the house is new, this will probably be the case.

Check that the seller is entitled to sell the property. Most land is registered, so this means checking with the District Land Registry where the ownership details are kept. If the house you are buying is not registered, it may all take a little longer..

Arrange for exchange of contracts. This is an important step in the purchasing since once the exchange takes place, you are committed to buying the property. You must read the contract and approve it. If you do have problems taking it all in, you solicitor will explain. At this stage, a deposit is usually required. If you drop out subsequently, you will forfeit the deposit you were required to produce at the time of exchange.

Ensure that the requirements of the lending institution are met.

Prepare a Deed of Conveyance to transfer the property from the seller to the buyer.

Explain the contents of the Deed, although by law you must read it yourself.

Ensure that a completion of the purchase and sale takes place as efficiently as possible. This is when the title to the property changes hands.

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