Conveyancing is making the
property transaction legal, in the simplest words. Whenever a property is
purchased and sold in London, it goes through the conveyancing process to make
it legal and registered. It includes the process of the transfer of the title
of the ownership. It is a multi-step process that starts with the initial draft
of the contract and ends with the registry of the property purchase with the
Land Registry. This post will look at the difference between residential and
commercial conveyancing and how a conveyancingsolicitor can help you with conveyancing.
Difference between residential and commercial conveyancing
Residential conveyancing refers to the conveyancing of residential properties, whereas commercial conveyancing refers to the conveyancing of commercial properties. Fundamentally, conveyancing for both types of properties are the same, but the key difference is in property searches and enquiries. The third-party search queries for a commercial property include some additional aspects that residential conveyancing does not include. You can get a commercial conveyancing solicitor in your area to learn more about the process. A commercial conveyancing solicitor deals only with commercial properties, whereas a residential conveyancing solicitor focuses on the residential properties in the area.
How can a conveyancing solicitor help you with conveyancing?
Conveyancing is a legal process,
and an individual from outside the conveyancing professional may not be aware
of the legal regulation and terms used in the conveyancing. This increases the
likelihood of making mistakes and failing the conveyancing process, which
wastes time and money. That’s why most buyers prefer to hire a conveyancing
solicitor. A conveyancing solicitor can help you with the following:
●
Prepare the initial draft
●
Requesting documents from a
seller
●
Performing third-party property
searches and property survey
●
Exchange of contracts
●
Completion of sale
● Registry of the property purchase
The fee of a conveyancing solicitor includes two components: a lawyer’s fee and a fee for third-party property searches. Hiring a property lawyer to purchase your property makes conveyancing hassle-free and easy. It reduces the likelihood of failure of the conveyancing due to operational processes.
You might be surprised that more
than 25% of conveyancing transactions fail. If you want to purchase property in
London, you can find a reliable and affordable residential conveyancing lawyer from Phewconveyancing. Visit the
website to receive free quotes.
