Hiring Solicitors – What Role Do They Play in the Property Transaction
When it includes buying and selling of the properties, you will always require help from the conveyancing solicitors. Such solicitors are the lawful advisors with expertise over the rules that should be followed while transferring the properties and assets from the authority of the sellers to buyers.
There are many benefits from hiring the conveyancing solicitors while dealing with the issues that involve millions of pounds. You can find an experienced one from visiting http://www.savemoneyconveyancing.org.uk.
Benefits from Hiring a Solicitor
When all transactions are carried out in a systematic way, the solicitors then take care of the details that are involved in the final settlement.
If you are on the buying side of the property dealings, then the main work of your solicitor is to arrange a date where both the parties can meet and finalise the settlement. Big budget transaction usually involves the help from bank or other such associations that offer loans. Hence, your solicitor also makes sure that the funds are all set for the date of settlement.
If the money is from your home locker, then the law states that you will be giving away the cash to your solicitor at least 24 hours before the settlement. This is just like the assurance for the solicitors to proceed with further requirements such as contacting the real estate agents to keep both the house and keys ready on the date of settlement.
If you are the one selling your home, then the main work of your solicitor is to coordinate with the buyer’s property lawyer and set a date that is convenience for both the parties. The main importance here is to let the buyer make necessary financial arrangement and come to a settlement that works in the favour of both the parties. Once everything is settled, they will then contact the real estate agents to hand over the keys to the buyer’s solicitor.
The benefits from hiring experienced solicitors for the job always involve the preparation of the necessary legal documents on behalf of both their clients.
Buyer’s solicitor plays a key role in the whole transaction since it becomes their duty to prepare a detailed documentation stating that the authority of the property will be transferred to the name of their client. Hence, they will take care of paperwork including the involvement of all legal clauses in the documents.
If you are the seller, then the actual work of your solicitor is to prepare a detailed document that involves everything including the section known as “Vendor’s Statement”. Title deed will also be prepared separately and includes all the obligations that the buyer should meet. By keeping the law of the particular state or territory in mind, they will make sure to prepare a detailed document, which does not cause any conflict regarding the property deed anytime in the future.
While preparing the legal documents, the solicitors require some information from various fields such as the marital status of their clients, consent, citizenship and also NOC from the property owner (during divorced cases), etc. Once you provide all the necessary documents, your solicitor will take care of everything till the property is handed over to its new owner.
Chris Johnson has written this article. If you are thinking about buying or selling property in the UK, then it is very important for you to understand the role of an experienced conveyancer for completing the transaction. You can visit www.savemoneyconveyancing.org.uk to request for free quotes.