How A Conveyancing Solicitor Can Help You
Conveyancing work is necessary regardless of whether you are buying or selling property. The main role of conveyancing solicitors and legal professionals is to ensure that they rights of their clients are protected and that they meet their obligations throughout the buying or selling process.
Since both sellers and buyers are supposed to meet various obligations and have various rights in the property selling and buying transaction, it is important that both parties hire their own professionals.
Read on to find out more about the roles of a property conveyancing solicitor.
It is upon the conveyancing solicitor to prepare all the necessary documentation for the property transfer transaction to take place.
On the seller’s side, the conveyancing solicitor usually prepares the Contract of Sale as well as the Vendor’s Statement. These are by far the two most important documents that the seller must have for the transaction to go through. It is however worth noting that the solicitor may also be required to prepare any other necessary ancillary documents.
On the other hand, it is upon the buyer’s solicitor to prepare the necessary documents needed to ensure that ownership of the property in question passes to their client. The documents must meet the legal requirements in that specific jurisdiction.
It is upon the solicitors involved to offer accurate legal advice regarding the transaction at hand to all involved parties.
As a seller, your solicitor should be able to properly advice you on the documents, included in the Contract of Sale, you need to facilitate the transaction. This professional should also point out all the documents you will need to hand over to the buyer to complete the transaction.
The conveyancing solicitor working on behalf of the buyer should be able to advise their client on the terms and conditions of the transaction. The solicitor should go through the Contract of Sale and Vendor’s Contract and point out any conditions that you should be aware of.
Finalising The Transaction
The conveyancing solicitors representing both parties are in charge of coordinating the final details of the transaction. Even though the settlement day is set out in the Contract of Sale, it is upon the two professionals to agree upon the most appropriate time for their clients. Once the settlement is completed, the seller’s solicitor will contact the realtor and direct them to hand over the keys to the buyer or their solicitor.
As you can see from the above, conveyancing solicitors usually handle the challenging details of a property transfer transaction.