It is important to search property solicitors thoroughly when you are either selling or buying a property. The search, however, can be filtered through different parameters. Would you go for a recommendation from your friends and family or choose one yourself? Will you be picking the cheapest one or a solicitor with a dependable reputation but with a fee on the higher end? It is at this point that you may drop the idea altogether and try doing the job yourself. But it is highly not recommended.
Buying or selling a property is a complicated process. In fact, no one can complete the process without involving a property solicitor. It is a legal process involving the transfer of ownership rights from one party to another. To find a good property solicitor below is a generic filter that your pick must pass through.
A Certified Solicitor
Even if you have multiple choices, make sure you talk to only those which are CQS-accredited. There is no need to waste your time on a solicitor which is not legally regulated. The CQS stands for Conveyancing Quality Scheme which is a register of solicitors who are regulated and authorized by the Solicitors Regulatory Authority with regards to buying and selling of the property.
Yes, you can go for a firm that is located in the central and is esteemed to be the most reputed. However, we would suggest searching for a firm nearby. This way, you can drop into their offices and deal in-person if the need calls for. Local solicitors will also have an understanding of your area’s local issues and potential problems. Additionally, they will be well aware of the market outlook.
Get a complete quote with all hidden and exclusive charges before signing a contract. This is why it is recommended to search locally so you can get multiple quotes from different solicitors. Ask for an itemized bill so you know how much you are paying for each service. Make sure it is all required and not something that your solicitor will make at the expense of your naivety. There is nothing stressful than receiving an unanticipated large bill at the end of the process. A written quote will give you an idea of an upper and a lower range.
Check if Your Firm is on the Bank’s Board
Different firms are accepted by different banks. This depends on whether the law firm is on that bank’s board or not. What is ideal is to find a firm that is on almost all banks’ boards, if not all. This provides the convenience of changing banks swiftly later which will, in turn, save you the administrative cost.
Make Sure they are Responsive
Once you have agreed to their pricing, do not let them ghost you. Ask them to walk you through each legal document and cascade of the process. In case you would like to make changes, highlight them to make amendments.
What to look for in the solicitors.
- Their Customer portfolios.
- Their market reputation.
- Their practical experience.
- Their success rate.
- Terms of their Agreement.
What does a solicitor do?
A solicitor works out all the legal aspects of any transaction on the behalf of their customers. Here are only some of the details that property solicitors will take care of for you while buying, selling or renting property.
- Prepare required legal information packages
- Prepare a contract for sale
- Request a settlement figure for your mortgage and any other secured loans
- Liaise with the local authorities on your behalf
- Whet the contract for you
- Request deposits and file paperwork
- Deal with formal offers of mortgage and conditions
- Communicate any issues and devise a solution
- Exchange of contracts
- Prepare final completion statements
- Prepare the deed of transfer and mortgage deeds
- Organize final searches to check for debts and bankruptcy
- Receive and arrange for payment of any Stamp Duty
- Prepare and send off an application to register your ownership
- Receive the deposit as a down-payment
- Organize final accounts and prepare a final settlement for your approval
- Collect any balance of funds required
- Approve the deed of transfer and arrange for you to sign it