Dispelling the myths of Conveyancing

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For many home movers conveyancing is a grey area. There are numerous conveyancing myths which confuse people when buying and selling a house.

Conveyancing "don’t come cheap"

The myth that you can secure conveyancing services for under £100 is certainly pie in the sky. If you find such a conveyancer, check your contract carefully as you may be charged for every email read, text sent or paperclip used. As much as we don’t like to spend money on necessities, generally you get what you pay for when it comes to a conveyancing solicitor. Significantly, if your conveyancing quotes sound too good to be true then the fact of the matter is they probably are. Concentrate on getting value for money from your chosen solicitor, ensuring they take the strain of the paperwork whilst keeping you informed every step of the way.

Conveyancers don’t arrange a house survey

Contrary to popular belief conveyancing solicitors do not arrange a home survey. In a reallymoving.com study conducted of 900 people last year 54% of respondents in fact believed the solicitor would arrange a house survey. Similarly, a fifth of respondents thought that an estate agent could carry out the conveyancing of their house move. The confusion appears to lie between the concept of surveys and searches, with conveyancing solicitors employed to carry out the latter.

No binding agreements until a Contract for Sale has exchanged Your conveyancing solicitor plays a crucial role in the buying and selling process of a house purchase. However, it is important to note that you have no legal obligation or binding agreement to purchase or sell a property until a Contract for Sale has exchanged hands. Both the buyer and the seller must have signed and exchanged their contracts, while exchange is normally accompanied by a deposit which is held by the seller until the sale is completed.

Beware the cooling off period

After exchanging contracts you should be aware that both the seller and buyer have five days to pull out of any deal – known as the cooling off period. If you are selling your home you are likely to be very reluctant to agree to a cooling off period, particularly if you have a number of parties interested in your home. However, it is worth noting that should a prospective buyer pull out during the cooling off period they will lose a significant chunk of the deposit paid upon exchange of contracts.

Online conveyancing is never a wholly online service

The myth exists that conveyancing is a service that can be provided wholly online. Wrong. Whilst it is acceptable to expect searches and orders for various documentation from the land registry, there are simply too many jobs to do in the traditional method. Documentation still requires an original inked signature, with e-signatures and scanned images still illegal by point of law.

Appoint your conveyancing solicitor carefully and ensure they have the relevant experience and qualifications to handle delays and any obstacles along the way. Check their background using a conveyancing solicitor directory with reviews and opinions from home owners who have used these conveyancers in the past.

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