The role of conveyancing in Newport during property dealing
Conveyancing in Chepstow refers to the transfer of a property’s legal title from one person to another.
Conveyancing in Chepstow refers to the transfer of a property’s legal title from one person to another. The conveyancing process is designed to make sure the buyer secures title, together with all the rights of the land, and is aware of any restrictions before they complete on the purchase.
Sometimes when selling a property, some owners ask, “Do I need a solicitor to help me with my house sale?” as they are unsure as to whether they actually need to involve a legal expert such as a licensed conveyancer or conveyancing solicitor, particularly when they are selling to someone they know. However, the role of conveyancing solicitors in the property selling (and buying) process is a very important one.
In short, a conveyancing solicitor is responsible for making sure the buyer they are acting for acquires a good and marketable title to the land. In practice, there is a great deal involved in the process and without legal intervention, there is potential for things to go wrong, especially when complexities arise concerning the land or planning issues.
By explaining the conveyancing in Newport in this post, we aim to demonstrate the vital role of conveyancing solicitors in the property selling process.
Once the conveyancing solicitor has the go-ahead from the estate agent, or from you directly if you are not using an agent to sell your property, they will request a copy of the title and use their technical expertise to check it to ensure there are no issues, and that the property is marketable.
When the conveyancer is happy with their title checks, they will prepare a draft contract for the sale, sending copies to you as the seller, and the buyer’s conveyancer.
If your property is mortgaged, the conveyancer will contact the lender and request a redemption statement. They will also approach the providers of any loans secured on the property. All financial liabilities associated with the property will need to be settled on completion of the sale.
The conveyancing in South Wales is responsible for responding to the enquiries put forward by the buyer’s conveyancer. This needs to be done promptly and accurately to ensure clarity and that there are no delays.
When all parties are in agreement and any issues are ironed out, the conveyancer will receive your buyer’s deposit from their solicitor, which will be held until completion.
Exchange of Contracts
The conveyancing solicitor will liaise with the buyer’s solicitor to agree a completion date. Contracts are presented to both seller and buyer for signature and at this point the commitment becomes legally binding.