Here are some FAQs to get you started.
Who will work on my conveyance?
You’ll work directly with one of our experienced solicitors, who will have overall responsibility for the conveyance. They’ll be assisted by a team behind the scenes making sure the job gets done.
What will it cost?
Costs do vary depending on the complexity of the matter, whether the property is freehold or leasehold and its value. We provide a no obligation breakdown of costs in advance and we always keep our clients informed so there are no surprises when our work is complete.
Are the costs likely to increase?
Generally no, we like our clients to know their costs upfront. It’s unlikely but sometimes, if a matter becomes very protracted or complex, then we may need to charge additional fees. In the unlikely event of this becoming necessary we’ll make sure you know all about it during the transaction, nobody likes surprises when it comes to paying bills
Can I make payments with credit or debit card?
Yes of course you can, there’s a fee of 58p for debit cards and 2.6% on most credit cards. Of course you can also pay via direct bank transfer to our client account. Do remember that if you’re buying a property with any kind of mortgage you’ll need to tell your provider about other borrowed money, such as that put on your credit card, which is going towards the purchase of property.
How do I instruct you?
That’s easy, just give us a call on 0207 703 5034 or drop us an email firstname.lastname@example.org. We’ll talk through the process and take instruction over the telephone, or if you prefer you can come in for a face to face consultation. Whatever you feel more comfortable with.
How long will it take? How long is a piece of string?
Most freehold transactions take approximately 6-8 weeks from instruction to exchange. Of course, it will also depend your individual requirements and the length of the chain involved
Should I arrange a survey?
Yes, we always advise clients to arrange surveys through a mortgage company or by an independent surveyor.
Will I need to arrange insurance?
Unless the property is leasehold, yes you will need to arrange buildings insurance from the date you exchange contracts. You will also need to arrange suitable contents insurance from completion.
What happens when I exchange?
On exchange 10% of the house sale price is due as a deposit. On rare occasions a seller will accept less than this. Before exchange we’ll need to be holding the 10% of the sale price in our accounts, ready to send to the seller and exchange contracts. It’s a simple process and we will contact you in plenty of time to make the arrangements.
Once you’ve exchanged if you default and the transaction fails to complete then the full 10% deposit will be kept by the vendor. You can also be liable for any other losses suffered by the other party.
On the day of completion what time will it complete and how will I know?
Completion usually takes place between 12pm-2pm. We will telephone you on the day to confirm that completion has taken place.
Where will I get the keys on completion?
You will usually pick these up from the estate agent who has marketed the house.
If I am due money back on completion how will I receive this?
We can easily arrange for a direct bank transfer so that any money due to you on completion arrives in your account on the same day or very soon afterwards.
Conveyancing Legal Terms
Conveyancing – Conveyancing is just the legal term for the process of buying or selling a property.
Vendor – this is the person selling the property to you.
Instruction – this is the process of finding out what you need us to do for you and formally employing us as your solicitors.
Matter – is another legal term for the work we’re doing for you once we’ve been instructed.
Exchange – This is the point at which you offer to buy or sell a property becomes legally binding. After this point, neither the buyer, or the seller can withdraw from the process without incurring penalties.
Completion – In a legal context this means when the transaction completes – it’s when the money is due from the buyer to the seller.