Member Article

Offer Accepted On A Property?

Buying, Selling Property?

If you or your Clients are moving house or remortgaging then a Solicitor or Licensed Conveyancer will need to be instructed to manage the property legals.

When an offer is accepted on a property the Seller and Buyer exchange Solicitor details.

Property For Sale

The Seller, Vendor probably instructed a Solicitor when they put their property on the market with either an online sales portal or a local Estate Agent. If they plan to buy a property and using mortgage funds, then the lender may insist that they use a Mortgage Lender approved Conveyancer. It make sense to get a sale and purchase conveyancing quote from a Mortgage Lender approved Conveyancer.

Homebuyer Conveyancing Panel

We Help You Too Ltd that manages the National Homebuyer Conveyancing panel provides a savvy online Homebuyer Conveyancing comparison and Solicitor finder service. Homebuyers and Sellers can quickly compare accurate conveyancing quotes online without entering any personal details. Only when ready do they then take a quote away and schedule a call directly from their chosen Solicitor firm. Each conveyancing quote fully details the conveyancing fees and disbursements costs.

Property Purchase

Many Buyers of property instruct a Solicitor when their offer on a property has been accepted. This does sound the best time, but it can cause delays. The Buyer intructs a Solicitor. The Solicitor sends out a Client care pack and terms of engagement to the Buyer. The Buyer needs to sign the terms and return to the Solicitor. Only when the Solicitor receives the signed terms does the Buyers conveyance begin.

Preparation

The Homebuyer Conveyancing panel can provide quotes for anticipated property purchase prices, which can be later updated if required, once an offer has been accepted. Having a Solicitor instructed by all parties before offer acceptance stage is the right way to make a fast move.

Many Homebuyers forget that they must have building insurance in place on exchange of contracts. This is a lender requirement for funds to be released. Solicitors do ask to see the policy.

Top Tip to move forward with a conveyance

Instruct a Solicitor before offer acceptance stage. Sign and return your Solicitors terms of engagement promptly. Think ahead and make sure you have Building insurance in place for Exchange of Contracts.

Reference

https://www.homebuyerconveyancing.com/new-build-conveyancing-costs

https://www.whyt.co.uk

This was posted in Bdaily's Members' News section by Duncan Pattinson .