Telephone: 023 8047 7625

FREQUENTLY ASKED QUESTIONS

WHAT IS CONVEYANCING?

Conveyancing is the word used for the legal process of transferring the ownership of land from one party to another.

WHY USE A SOLCITOR?

Ownership of land is unlike the ownership of personal property as over time new rights and obligations may be created in relation to it. For example a right may have been granted to a neighbour to come onto the land to install a new drain and to have access to repair the same. There may also be restrictions preventing extensions or alterations.
Such matters need to be carefully investigated to ensure that the correct title is transferred and that the seller is entitled to sell the property. Without the right experience, mistakes can easily be made which can have a major effect and cause problems for the future sale of the property.

HOW MUCH WILL IT COST?

Please click here to obtain a quotation
OR
alternatively please call our office on 02380477625
as we would be happy to discuss the costs involved and to provide a quotation to you. In addition to this firms fees there will be other sums which need to be paid to third parties but which we will deal with on your behalf in particular: Stamp Duty Land Tax, Land Registry Fees and Search fees which will need to be paid by the party to whom the property is transferred

WHY INSTRUCT DAVID EBERT AND CO?

Each member of our team has had many years experience in residential conveyancing and we can offer a personal and efficient service ensuring that our clients are kept informed of what is happening in their transaction. You will be able to speak to the Conveyancer dealing with your matter and you will be invited to attend the office to discuss the matter before proceeding with exchange of contracts. We have fully integrated systems and have on line links with the Land Registry, HM Revenue and Customs and Search providers to ensure that matters are dealt with smoothly and without postal delays.

WHAT IS EXCHANGE OF CONTRACTS?

This is the point at which both parties to the transaction are ready to proceed. Each party signs a contract and these are literally exchanged and the signed contract given to the other party. This process is carried out usually after a telephone conversation between the seller and buyers legal representatives. The parties to the transaction do not need to be present.

WHAT IS THE DEPOSIT?

The deposit is part of the purchase price and is paid on exchange. The amount required by the contract is usually 10% of the purchase price but the parties can agree that this is reduced. The amount paid by way of the deposit is deducted from the purchase price and the balance is paid at completion. Usually if you are selling and buying at the same time, you will not have to provide any deposit over and above the deposit paid by your buyer.

WHAT IS COMPLETION?

On exchange of contracts a date is set for the final payment to be made and the transfer of the property to be effected. This is the date that vacant possession is given to the buyer who can then obtain the keys and move into the property. Completion is effected by the legal representative and the parties do not need to be present leaving them free to deal with their removals.

WHEN DO I GET THE KEYS?

The final payment must be received by the Sellers legal representatives on the date set for completion before the seller or his estate agent will give the keys to the buyer.

WHAT ARE SEARCHES?

Searches are a list of standard questions raised with various parties. The result of the searches provide information which is not apparent from the physical inspection of the property the most common searches are:

LOCAL SEARCH

This is raised with the local authority and reveals matters on the registers of the district and local authority relating to planning consents and whether the road abutting the property is maintained at public expense. It does not provide information on neighbouring land but a specific search can be arranged if required. The local search now forms part of the HIPs.

WATER AND DRAINAGE SEARCH

This search is made with the utility provider and confirms whether the property is connected to the mains water supply sewerage and surface water drainage networks. This search now forms part of the HIPs.

ENVIRONMENTAL SEARCH

This search is made with environmental data specialists and provides information regarding actual or possible environmental pollutants on or near to the property. This information is important not only for health reasons but also because if there are pollutants you do not want to be liable for paying for any clean up required by the authority. Information is provided regarding flood zones in view of the increased risk of flooding in recent years some insurers are no longer prepared to cover this risk. It is important to speak to your insurance company with regard to this prior to exchange of contracts, as your insurance will need to be effective from the date of exchange.

CHANCEL REPAIR SEARCH

This search indicates whether the property is potentially liable for the payment to the local Church Council for the repair of the Chancel of the Church.
There are other searches, which may be required in some circumstances, and we are happy to discuss these with you. However we will draw these to your attention should we feel they are necessary. All our searches are carried out electronically to ensure a quicker turn around time.

PLEASE CONTACT US WITH ANY OTHER QUERIES YOU MAY HAVE

LINKS

We have set out below links to some useful independent organisations and government bodies giving general information on choosing your solicitor and the buying and selling process

Land Registry
HM Revenue and Customs Stamp Duty Land Tax
Tips for an easy move www.direct.gov.uk
Which? online

 

Regulated by the Solicitors Regulation Authority number 558176

 

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