Buying and selling property is not always as easy as it might seem, especially if you are a first time buyer. It is a process that can be frustrating with possible setbacks, especially when you choose to work alone without any professional assistance. Some of the most common setbacks that first time buyers face include vendor drop outs which could result from better offers from other buyers, property cost hikes, survey issues and mortgage difficulties.
Solicitors are very helpful in the property buying and selling process and your chances of going wrong with the deal are greatly reduced when you have one helping you. They generally handle all legal aspects of the property buying process and they keep you updated every step of the way so you are able to relax. Conveyances handle the contracts, carry our searches and surveys, and handle land registry and transfer of funds for the property. It is very important that you choose a licensed solicitor to make your process more pleasant and quick for that matter.
Solicitors are qualified lawyers and they offer a fuller range of legal services, but tend to be more expensive compared to conveyances. Licensed conveyances on the other hand do specialize in property, but they might not be able to handle complex legal issues.
Find your solicitor
To start with your search for the best solicitors for first time buyers, you can start by getting references from family and friends. You can also ask mortgage brokers, lenders and independent financial adviser for recommendations. Estate agents can also prove to be very helpful in helping you find the best solicitor to handle your property buying process. The internet is another good platform you can use to find solicitors that are best placed to handle your process and from this you can compare and choose the most suitable. Ensure that your solicitor is a member of the relevant law society and conveyancer is member of the relevant council of licensed conveyancers.
Different solicitors charge differently for their services. You might get one who charges a fixed fee for the whole process and all services rendered while others might charge hourly rates or a percentage in relation to the property price. Get as many quotes as possible and then check for the breakdown of the costs so that you can make the right decision. Check bank transfer charges, searches, land registry fees, stamp duty on the property if it applies and any other additional work that might attract charges. Courier services and postage are the other possible charges that will affect the fees that you pay for the services.
Besides getting a solicitor who is licensed and a member of the relevant body, you want a professional you can get along with. Contacting them should be easy and they should handle you professionally and in the friendliest manner. Find out what systems they use to track purchase progress, their location to your convenience and what days they have available to handle your needs.