It is almost impossible to sell real estate without the help of solicitors. Conveyance is highly complicated and law-intensive. Only the trained and experienced people can successfully undertake conveyance. Having solicitors in Wakefield enables buyers and sellers to concentrate on other things and not the intricacies of property transaction. Solicitors are involved in conveyance from the time a buyer identifies a property on sale till full purchase and registration of the property. Full registration of newly sold properties usually extends way beyond completion of conveyance.
Solicitors duties during conveyancing
Solicitors are the mouthpieces of buyers and sellers. Buyers and sellers rarely meet. Online conveyance has made a meeting between buyers and sellers even rarer. Sellers usually draw drafts detailing their terms of sale. The price of the property and completion date is included in the draft. The seller’s solicitor then gives to the buyer’s solicitor his client’s draft. A seller’s terms of sale cannot be necessarily agreed on by a buyer. The buyer may draw his own draft indicating changes he wants made in the seller’s terms. The two eventually come to an agreement and draws a final contract. It is the final agreement that guides conveyance. A buyer is usually expected to pay a deposit once he exchanges the contract with the seller. After deposit paid, the contract is legally binding, and the buyer and seller are required by law to carry on with conveyance till completion.
Solicitors help in mining for documents that are essential in the conveyance. A seller is expected to have a genuine updated title deed of the property in the market. His buyer must look for this document in the Land Registry. If Registered Title is required, the solicitor will get this too from the Land Registry. The Land Registry usually charges a small fee for these documents. The fee is different from the solicitor’s fee. The buyer’s solicitor must also get a copy of Title Deeds from the Land Registry.
Solicitors help buyers find out the background of property. Structural integrity and physical appearance determine the price of property. A seller can state a price that does not match the condition of the house. It is the responsibility of a solicitor to find surveyor or a valuer to help in evaluating a property before the purchase. Information gathered from the evaluation will enable a buyer to approximate what he will spend in buying the property.
Solicitors also help in water and sewerage research. A seller’s need for water and drainage can be different from that of the buyer. The buyer must know adequacy of water supply to a property so that he can make arrangements for more water supply. He also needs to know the source of the water and how the water is treated before it pumped to the house. The solicitor must also research about mining activities in the area around the property. He must note down harmful mining operations such as those that can interfere with the structural integrity of the house, or those that pollute air and water.