Conveyancing is a process that was designed to make sure that those buying and selling property could do so securely. When buying a property, the onus is on the buyer to ensure that the property is in good condition and with little or no risk attached. However, there are still many pitfalls when a buyer can get into trouble. Thankfully, a good conveyancer can help you to avoid problems. Here are some other ways to protect yourself from these pitfalls:
Do your homework
It’s always a good idea to learn a bit about what conveyancing entails. Learning about the process and the different stages involved can help you understand better what is going to happen. There are three main parts to conveyancing – pre-completion, completion and post-completion.
The Property Title
A main concern is to check the property title has no problems. This is one of the first pitfalls that a person can face in stage one of conveyancing. Buying a disputed property will cause stress and extra money and could even result in losing ownership. A respected conveyancing firm will assist you in any such difficulties, carrying searches so you don’t purchase a home with major issues.
Dealing with documents and understanding legal terminology can be complex. Even a tiny mistake in the drafting or interpretation can end in disaster. This is why expert advice is essential. For help from Conveyancing Solicitors Guildford, contact a site like Sam Conveyancing who will put you in touch with Conveyancing Solicitors Guildford.
Finding a mortgage
Getting a mortgage is not always an easy task. Many lenders are unwilling to take risks, so the onus is on the buyer to prove their credibility. For those previously declared bankrupt or with levels of debt, this process can become even more complicated. Finding a good solicitor will help considerably and provide a certain amount of credibility to your mortgage search.
New builds are automatically registered with the Land Registry but older homes might not be. Risks like encumbrances and adverse possession are higher with unregistered properties. The same issues apply for leasehold properties, with documents and paperwork becoming quite complex. A lease documents must be studied in minute detail to understand the full rights and responsibilities of tasking on a lease.
Delays in the process are a major issue that you’ve probably heard many people complain about. The longer the process takes, the more risks there are, such as the possibility of being gazumped for example. Hiring an efficient and experienced conveyancer can help keep you on track and reach completion in as little time as possible.