In the UK residential conveyancing refers to the legal process of buying and selling property. While it is possible to sell a property yourself without a professional legal representative there are a lot of potential risks involved which is why it is best to use experienced legal professionals who specialise in property law.
In the UK this is regulated by the Law Society. As with any other type of legal profession (or indeed anyone offering services for you in general) it is worth finding people who are licensed to represent you in order to ensure that they do so effectively as well as reducing the risk of false representation and other unfair practices that the Law Society are curbing.
Conveyancers are usually brought in after contracts have been exchanged between the buyer and seller of a property. Before this point both parties could potentially pull out of the deal. Once this has been agreed it is the responsibility of both the buyer and the seller’s legal representatives to check over the legal documents of the property and to confirm agreement regarding the final asking price.
How long this will take will vary depending on the type of contract. If there is a property chain involved then it can potentially take longer. This is often one of the most frustrating parts of the process and therefore it helps to have a representative who can guide you through the process!
A conveyancer will guide you along through all the aspects of buying/selling a property- from the initial exchange of contracts through to the eventual handing over of keys (it is best to only do this once the exchange of funds has been confirmed, something your representative should inform you about once the process has been completed.)
In short, the residential conveyancing process is the final step of the buying/selling process. Inevitably some cases are simpler than others which is why it is best to have a representative with the necessary skills and experience to work through this and explain to you what is happening and what you need to be prepared for during the buying/selling process.
If you would like to know more about residential conveyancing and how we can help you through it (We will do our best to make it as simple as possible) then contact us today.