Conveyancing is an essential part of property transactions. For the process to go smoothly, it generally pays to have your conveyancer on board early. There are many aspects to conveyancing, including some important legal matters that need to be executed correctly. While you could attempt this yourself, the risks of making mistakes must be considered, which could cause expensive headaches down the track.
Getting the groundwork in place
Some parts of the conveyancing process, such as verifying IDs and fulfilling money laundering checks, are a mandatory part of the process. By instructing early, this can be taken care of, enabling your conveyancer to focus on any challenging aspects of the transaction.
Money laundering rules are getting tighter and it is important that these checks are conducted properly and the source of funds is verified. If watchdogs suspect money laundering, they are even investigating deals that are several years old for improprieties.
Be ready to move
If you are buying a property, you will need to have several processes in place, such as the funds to purchase, perhaps a mortgage offer, and certainly bank statements to give an accurate reflection of your financial status. Early instruction can mean these things are in place when an offer is accepted.
When selling a property, you will need a memorandum of sale. By getting organised early on, this will be ready the minute you need it. There will be no delays waiting for documents to be completed, which can make the process run more smoothly.
By instructing a conveyancer early, you can save many weeks on the transaction time. This is the case whether you are selling or buying, so it makes a lot of financial sense. The best conveyancing solicitors are not always the cheapest and you should watch out for extras you weren’t expecting. When you are looking for the best conveyancing solicitors, it pays to shop around and look at what a number of firms, such as Sam Conveyancing, have to offer.
A smooth property sale or purchase is all about being organised. What better way to be organised than by having your conveyancer in place and doing all the background work that needs to be completed so that you can move forward when you get the green light?
