So, you`ve found your dream home, you’ve arranged a mortgage (hopefully with Holistic Mortgage & Protection - your local mortgage Brokers), you`ve got your deposit, you’ve appointed a conveyancer/solicitor.
But what do they actually do?
Well, they provide a valuable service. Put simply, they deal with all the legal bits in the background to ensure the legal transfer of property ownership, i.e. allowing you to move into your new home. Their responsibilities can be summarised (but not limited to) as the following:
Preparing and Reviewing Documents: Handling the contracts, agreements, and other legal documents relating to the purchase of your new home
Searches: Performing searches, such as (not a conclusive list):
Local Authority Search: Checking for planning permissions, building regulations, and any local issues that might affect the property
Land Registry Search: Confirming the property’s ownership and any existing charges or encumbrances on the title
Environmental Search: Identifies any environmental issues, such as flood risk, contamination, or nearby landfill sites
Chancel Repair Search: Determines whether the property may be liable for contributions to repairs of the local parish church
Water and Drainage Search: Investigates the property’s connection to local water and sewage systems.
Coal Mining Search: Relevant in certain areas, this checks for any past or potential mining activity that could affect the property
Highways Search: Looks into the status of nearby roads and whether they are publicly maintained
Liaising with all relevant Parties concerned: Communicating with you (the buyer), the vendor (seller/and or Estate Agents), your Mortgage Lender and naturally your Mortgage Broker
Controlling and managing the Financial Transactions: They help facilitate the payment process, i.e. the monies to relevant parties including your deposit, the mortgage Loan and any other settlement amounts relating to the purchase of your home
Ensuring Compliance: They ensure that all legal requirements are met for the transfer of the property ownership into your name
Providing other Legal Advice: They offer guidance on any other property-related matters, any particular complexities of the transaction and potential risks involved in the transaction
So now you know. Knowledge is King, as they say. Till next time, adios!
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