What does a property solicitor do?

Solicitors

Selling or buying a property is a complex legal process, with many steps involved. Although the potential and resources exist for you to do this yourself, many people choose to appoint a property solicitor. A property solicitor will charge a fee for this service, but given the potential financial hazards involved in such a large transaction this is well worth paying. Here is a guide to what a property solicitor can do for you.

Checks and Searches

The first thing that a property solicitor will do is to carry out checks to makes sure that both parties, buyer and seller, are in a legal position to carry out the transaction. Solicitors will make sure that the other party is not attempting to carry out any illegal activity in order to protect you from any potential financial problems. In addition, the solicitor needs to check the property to make sure that it is legally able to be sold. The title deed pertaining to the property is checked to make sure that all of the property’s boundaries are listed correctly and that it does not contain any clauses that could affect the sale. There will be additional checks made to make sure the planning applications relating to the property are legitimate and that any other local planning applications that may affect the value of the property are communicated to the buyer.

Contracts

If everything is in order your property solicitor will negotiate the terms and conditions of the contract with the other party’s solicitor. The contract is an important legal document and needs to be prepared with accuracy. This can be a complex process, with draft documents passing backwards and forwards until agreement is reached. Your solicitor will be trained in the preparation of a variety of legal documents and their expertise can save you valuable time in a sale, ensuring that you are able to complete it on time. When all is in order, your solicitor will exchange contracts with the other party and agree a completion date.

Completion

Completion in a property sale involves transferring the agreed sum of money and registering the new owner on the property deeds with the UK Land Registry. Once the deeds have been amended, ownership passes to the buyer. If there is any mortgage arrangement required the solicitor must process the mortgage deed from the lender to secure the loan on the house. Once all of the money has been received, the solicitor will arrange for you to collect the keys to your new home.

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