Understanding conveyancing: what is it and when do I need it?

If you're getting ready to buy or sell property for the first time, you've probably heard the term 'conveyancing' and might be wondering what it actually means and how it might affect you.

In this article, we'll break down what conveyancing is, when you need it, and why bringing a conveyancer on board early can make a big difference in your buying or selling experience.

What is Conveyancing?

Conveyancing is the legal process involved in transferring property ownership from one person to another. This process ensures that the transaction complies with all the legal requirements and that the new owner receives the title to the property. For those unfamiliar with the process, conveyancing can be divided in two stages which include:

Pre-contract: In this initial stage, the contract of sale is prepared and reviewed, ensuring that all the legal aspects of the property are in order. This is also the stage where further investigations around potential issues such as legal disputes or land use restrictions are carried out.

Post-contract: This latter stage involves the signing of the contract. Alongside this, the conveyancer finalises the details of the sale, coordinates the transfer of funds, and ensures that the legal title is transferred to the new owner who is also registered with the relevant land registry.

When do I need the services of a conveyancer?

You will need conveyancing services for a range of property transactions which can include:

Buying a property

When you purchase a property, you need a conveyancer to handle the legal aspects of the transaction. They will ensure that the property you’re buying has a clear title, check for any legal issues, and manage the transfer of funds and ownership.

Selling a property

If you’re selling a property, a conveyancer will prepare the contract of sale, handle negotiations with the buyer’s conveyancer, and manage the transfer of ownership. They ensure that all legal requirements are met, and that the sale proceeds smoothly.

Transferring ownership

In cases where property ownership is transferred without a sale, such as during a divorce settlement or as a gift, conveyancing ensures that the transfer is legally valid and properly documented.

Re-mortgaging

When you refinance your mortgage, conveyancing might be necessary to update the legal documentation related to the property and ensure that the new mortgage terms are correctly recorded.

Lease extensions

If you are extending the lease on a property you own, conveyancing services are needed to handle the legal paperwork and ensure that the extension is properly documented and registered.

Why is conveyancing important?

Conveyancing plays a crucial role in ensuring the buying and selling process remains legally secure for several reasons:

• Legal protection: It ensures that your property transaction complies with all legal requirements, protecting you from potential legal disputes or issues and giving you redress in the future if anything is not how it should be.
• Due diligence: Thorough searches are taken during the process to uncover any potential problems with the property, such as unpaid debts or planning restrictions.
• Smooth transactions: Professional conveyancers help manage the complex paperwork and procedures involved in property transactions, reducing the risk of delays and errors.

How do I choose a conveyancer?

Selecting the right conveyancer can significantly impact the ease of your property transaction. Here are some tips:

• Experience: Look for a conveyancer with extensive experience in handling transactions similar to yours.
• Qualifications: Ensure that the conveyancer is properly qualified and regulated by a professional body.
• Reputation: Check reviews or ask for recommendations to gauge the conveyancer’s reputation and reliability.
• Costs: Understand the fee structure and any additional costs involved to avoid unexpected expenses.

When should I choose a conveyancer?

Ideally, you would have a conveyancer in mind before you put an offer on a property or accept an offer on yours. This helps improve the time the sale takes as neither party are waiting to get their conveyancer in place before the conveyancing process can officially start.

Conveyancing is a critical part of buying, selling, or transferring property. It ensures that all legal aspects are handled correctly and that your rights as a property owner are protected. Whether you're moving into a new home, transferring ownership to a loved one, or re-mortgaging, hiring a professional conveyancer can make the process smoother and more secure.

Where can I find a trusted conveyancer?

At Frost's we work with our selected partner, Premier Property Lawyers to help with you with the legal work of your property purchase, removing the stress from the process and allowing you to buy with confidence. One of the reasons we work with Premier Property Lawyers, is that all clients receive a dedicated conveyancer, who they can work with directly via paper file, or they can choose an eWay management service account that they can access 24/7. To find out more, read our Conveyancing page.