30 Jan Why use a property lawyer when you plan to buy a home?
Buying a home can be a stressful experience. It is a major financial commitment, and therefore it is important to understand the process and be aware of potential pitfalls. Using property lawyers, such as conveyancers and property solicitors can help to make the process smoother and easier all round.
Why should I use a property lawyer?
A property lawyer will be an expert in all aspects of property law. They provide invaluable advice and can assist you throughout the entire process
Once you have found the property of your dreams, it is important to be realistic about what you can afford. Many mortgage lenders refuse to deal directly with buyers in conveyancing matters, preferring instead to deal with a professional intermediary such as a lawyer or conveyancer. A property lawyer can also help you go through all the necessary paperwork associated with the mortgage, to ensure that you get the best deal possible.
When needed, the property lawyer will ensure that all paperwork is completed efficiently and correctly. They will also produce draft contracts and check both the title register and title plan with the Land Registry, as well as any other documents that might be needed. This might include other searches such as local authority searches, environmental searches, searches for the water authorities in the area, and carrying out a flood risk analysis.
Sometimes negotiating is key, and a property lawyer can help to negotiate the best possible deal for you, whether you are a buyer or a seller. Your conveyancer or property solicitor can give advice on the seller’s Property Information Form, fittings and contents, and more importantly, deal with complex issues that can sometimes arise from leasehold properties. They will always strive to protect your interests throughout the entire process, to ensure you get the best deal for your money.
Transfer of Equity
In some cases, you might need a transfer of equity solicitor. This occurs when a person wishes to transfer their share of a property to another person. For example, this could happen when a couple decides to separate and one partner wishes to transfer their share in the property to the other. Transfer of equity is a complex legal process and requires expert advice. A transfer of equity solicitor will be able to advise on the legal implications of the transfer, as well as ensuring that all documents are completed in accordance with the law.
Depending on the complexity of the transfer of equity, starting costs range from anywhere between £100 and £500 plus VAT. Complex cases can cost considerably more, so it is always advisable to ask for a quote beforehand.
When it comes to purchasing a new property, it is important to seek the advice of a qualified and experienced property lawyer, who can provide assistance and advice throughout the entire process. Having an experienced and qualified professional on your side, can make the process as smooth and as stress-free as possible.
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