What is a Conveyancer and what do they do?
If you are buying or selling property, you’ll need to instruct a conveyancer. There is conveyancing work involved if you re-mortgage. That is, change your mortgage from one lender to another lender but there is no purchase or sale involved.
A conveyancing solicitor helps sort out all the legal work, the obligations of both the vendor and buyer and transfers the title from the vendor to the buyer in accordance with the contract of sale and meeting any conditions met by a mortgage lender.
A conveyancer is likely to:
Arrange documents to be signed and draw up legal contracts which is a primary requirement and vital with any property transaction.
Prepare the Contract of Sale and make sure any special conditions are included in the final contract. This avoids any conflict later.
Advise you regarding the legal work – helping you to complete the process successfully and with the least problems.
Arrange the redemption (repayment) of any mortgages.
The buyer and seller’s conveyancers will coordinate with each other to arrange a suitable date for exchange of contracts and subsequently completion.
The contract is legal at the time of exchange of contracts but sometimes the completion doesn’t happen at the same time.
The conveyancer may ask to see confirmation of the property’s building insurance at the time of exchange of contracts to cover you from the period of time your purchase becomes legally binding (exchange of contracts) and the time you take over the keys (completion).
If you have any further questions, please get in touch!