You can do your own conveyancing, but it is not recommended! John E Jones, Head of Conveyancing at Jackson Lees, explain why you need professional legal help with property transactions
- Why do I need professional conveyancing services rather than doing it myself?
You can do your own conveyancing, but it is not recommended especially as there is less incentive to do so as the cost of using a professional conveyancer is now much more competitive. The other factor is that DIY conveyancing can be time-consuming, requires you to understand the process and have a good eye for detail. Any errors that arise, on your part, can also be costly and may end up in court.
- Do I need conveyancing services both when selling or buying property?
This is strongly recommended. A chain of transactions must be well managed to ensure that all the properties in the link complete on the same day. This is best served by each transaction in the chain being dealt with by a professional conveyancer. Also, if there is a mortgage involved in either the sale or the purchase then, often, lenders will not accept you buying a property, using the lender’s money, without having first instructed a conveyancer.
- How early in the buying or selling process do I need a conveyancer?
If selling, you should speak to your conveyancer before the property is placed on the market. Your conveyancer can then make your property ‘sale ready’ by ensuring the title is checked and any relevant paperwork is completed beforehand. This will speed-up your sale. When buying a property, you should instruct your conveyancer a soon as your offer to buy has been accepted. The conveyancer can then start the process quickly eg, by ordering the required searches immediately, and so on.
- What other areas such as remortgaging and rights of way does conveyancing cover?
A conveyancer covers a broad range of legal services in addition to the usual sales, purchases, and remortgages. Conveyancers should be used to investigate pre-auction legal packs, to deal with Transfers of Equity by way of gift, or following divorce or death, to deal with the granting or removal of rights (eg, granting access over a shared driveway), to investigate title in support of planning applications or to obtain council grants, to deal with Equity Release mortgages or Home Finance Plans, and so on. Any non-contentious matter affecting land falls within the remit of a conveyancer.
- How should I choose a conveyancer?
Whilst recommendations from family, friends, your estate agent or building society are all very worthwhile you must make your own checks. Selecting the wrong conveyancer will delay your transaction or worse still completion may never happen! You should check they have the relevant experience, and knowledge, of both national and local conveyancing procedures, that they can deal with your matter wherever in England and Wales your specific property is situated, check they have a common-sense, pragmatic, and commercially minded approach to their work, and check that your chosen conveyancer will have personal responsibility and accountability for your sale or purchase. Price is a factor, but you may have to pay a little bit more to get the service you deserve.
- How often should I expect to hear from my conveyancer during the buying or selling process?
You should agree with your conveyancer, at the start of the transaction, as to how often you wish to be contacted and by what means (ie, post, text, phone, email or however). You should receive regular updates (at least every seven working days) or be given access to the case history of your file. You will want to see how your transaction is progressing.
- What are the final steps in the conveyancing process post completion?
On a sale, your conveyancer will redeem your existing mortgage(s), pay your estate agents, and transfer the title documents to the buyer’s lawyer. Any net proceeds from your sale will then be sent to you. On a purchase, your conveyancer will inform the Inland Revenue and pay any Stamp Duty Land Tax that maybe due. Thereafter, your conveyancer will apply to HM Land Registry to register you as the new owner of the property, and to register your new mortgage (if any). If your property is leasehold, your conveyancer will also inform your landlord of the change of ownership.
- How much should I expect to be charged for conveyancing?
Conveyancing fees are usually tied to the price of the property you are buying or selling. Conveyancing will require you to pay both legal fees and disbursements. Legal fees are what the conveyancer charges for doing the work. Disbursements are paid to third parties involved in the process eg, Land Registry fee and official searches. Some disbursements apply only to sales while some only need to be paid on a purchase. Currently, average legal fees when buying a house range from around £500-£1500 plus disbursements. Average legal fees when selling a house are around £600-£1,000. Some firms will charge less or more depending on the level of service they provide. Please note – if the property is leasehold this fact will add, on average, another £300 to the legal fees.
- What’s the story behind Jackson Lees?
Jackson Lees is an award-winning, forward-thinking law firm in the North West with one common mission; to make a positive difference through the practice of law. It can trace its history back to 1889.
The firm provides a full-service legal solution to personal and commercial clients. With over 280 committed employees spanning over three offices, Jackson Lees has a wide range of expertise to support you with your legal needs. Jackson Lees comprises industry-recognised leaders who are changing the shape of the legal environment through hard work, commitment to their clients, and unrivalled expertise.
- Where can I find out more about Jackson Lees?
Please call us on 0151 808 0429 or email us – enquiry@jacksonlees.co.uk. More information on Jackson Lees can be found on our website – www.jacksonlees.co.uk and specifically for our residential property team on – www.jacksonlees.co.uk/services/residential-property
