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Conveyancers Give 35 Tips On Buying/Selling Your Home

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By : Brazg Gavin    99 or more times read

  1. Ensure that your conveyancing firm is regulated by the SRA/Law Society or The Council for Licensed Conveyancers/CLC.

  2. You don't need to visit your high street solicitor any longer - you're able to do your conveyancing online, so contact can be done via email or over the telephone.

  3. Online conveyancing is usually a far speedier experience than using a high street firm.

  4. If you get a quote - always make sure there are no "hidden" charges

  5. If the firm of Solicitors or Conveyancers you are using has more than one office, then they can act on both sides of a transaction; that's, one side acts for the vendor, the other acts for the purchaser. This should help keep time scales down to a minimum. If they do not have more than one office, then they cannot act for both the vendor and purchaser, as this will be a Conflict of Interest

  6. According to the BBC website, typical solicitor fees (not including Disbursements & VAT) in England & Wales is approximately GBP550.00.

  7. Following the abolishment of the HIPs, buyers now pay for the searches and the seller's only have to supply an EPC

  8. Check who your conveyancing firm is governed by. The SRA and CLC are the only regulatory bodies recognized in terms of the protection offered.

  9. Try not to stop your search at the cheapest priced Conveyancing firms; it may not be worth your while, as cheap may mean that corners could be cut. In the same token you really don't want to be paying over the odds.

  10. Get several quotes and compare them side by side. It may be that one firm is including something that another firm is not. If that is the case find out what the 'extras' will be and the costs.

  11. If you're buying a property, does it have a HIP? If it does, how old is it? Only searches found in HIP's that are less than six months old can be used. This could potentially save you having to purchase brand new searches.

  12. Budget for extra disbursements - Some properties May be located in a mining area for example, so your mortgage lender will require a mining search to be carried out.

  13. Put aside around GBP200 to cover any extra searches which may come up.

  14. Buying a home near a church? You might be liable for chancel repairs so you'll probably require a chancel repairs search.

  15. If you are a first time buyer, you'll be exempt from paying Stamp Duty on a property that's below ?250,000.

  16. However, if your partner has ever owned a property before, you will not be able to purchase together as first time buyers.

  17. Some lenders offer a free legal service on some of their products, if you are remortgaging. This will help save hundreds of pounds in conveyancing fees, plus takes the effort out of locating a conveyancer to do the work

  18. Ask your conveyancer if they provide a no completion, no fee service

  19. Check if your conveyancer takes payment for writing emails, letters and photocopying- most firms tend to.

  20. Ask your conveyancers if they offer online case tracking, and if so, is it free?

  21. Thinking of carrying out your own conveyancing? Think carefully about this one, it is possible, but it can be extremely stressful and even may take longer than if you were to use a conveyancing expert. If going alone, you may find it incredibly difficult to get a mortgage offer.

  22. If you're buying a leasehold, expect to pay slightly more for your conveyancing as the conveyancer will also have to deal with the property management company

  23. Purchasing a new build? The norm is to complete and exchange within 28 days, as developers are keen to get their money, so count on paying more for your conveyancing.

  24. Shared ownership purchases take the conveyancer longer to complete and consequently will most likely cost more.

  25. Find out if your conveyancers have a client services or customer care team. Sometimes it is not always possible to speak with your conveyancer, so a customer care team that will help you stay up to date is crucial.

  26. According to the Council of Mortgage Lenders, over 28% of home sales fall through as a result of buyers getting cold feet.

  27. Set reasonable timescales, on average it will take around 3 months to complete a house purchase or sale.

  28. If selling do you have all the building regulation documents, related planning permissions, FENSA/CORGI certificates to hand? It could cost you more should you have lost or mislaid them.

  29. If purchasing, be sure you have evidence of your source of funds (money used aside from the mortgage) for money laundering regulations, usually 6 months of bank statements - ask your conveyancer.

  30. Are family or friends gifting you money to help with your purchase? Make sure you tell your lender and conveyancer as quickly as you possibly can.

  31. Some firms have a client services team that will provide updates to you without needing to wait or make an appointment to speak to your conveyancer - handy if you need an instant update or are unclear about anything at all.

  32. If the purchase price varies from the original you really must inform both your lender and conveyancer as soon as possible - it could holdup the exchange as new documents and amended mortgage offers have to be set up.

  33. If you are either purchasing or selling a leasehold property be aware that you will have to allow for additional charges, these will be to the managing agent towards service charges and notice of transfer fees - these aren't included in any quotation you will get from the Conveyancing firm as they will not know how much (if any) is necessary until the conveyancing is half-way through.

  34. If buying a mortgage in possession property, remember it is 'sold as seen'. Any questions you might have associated with the property might not be answered because the seller will have limited information. The same applies for executor estates.

  35. Be prepared to be flexible with completion dates, depending on just how long the chain is. Do not book the van until you are absolutely certain that everyone is ready to exchange.
Gavin Brazg is editor of TheAdvisory - UK's largest free resource of free expert advice for UK House sellers.

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