Purchasing or selling a property is likely to be one of the most significant, and expensive(!), transactions you will make. For this reason, it is crucial that everything goes smoothly wherever possible, or is dealt with accordingly if it doesn’t.
However, it can be a complex process that will be difficult to handle alone. Having an experienced legal advisor at your side every step of the way will make the process that much simpler, but this is not the only advantage.
Below there are several reasons listed as to why hiring a solicitor is so helpful while navigating the difficulties of conveyancing so keep reading to find out.
Firstly, it’s important to fully understand exactly what conveyancing is before embarking on your property journey. Conveyancing refers to the legal process of transferring ownership of a property from one person to another.
It may seem easy at first but there are several complex steps involved before the transaction can be completed. This includes handing over the deeds, drafting and finalising contracts, negotiating with the other party, as well as handling finances.
However, a reliable solicitor like Wayman & Long will deal with all this and more on your behalf so you can relax in the knowledge that your sale or purchase is taken care of.
Understanding legal terms can be difficult, and trying to do that whilst navigating the sale of a property can be incredibly overwhelming. However, solicitors have the legal training required to fully comprehend confusing contracts and help guide you through the process smoothly.
They will also make sure to keep you informed at all times, letting you feel confident and in control of the entire transaction. At Wayman & Long, our solicitors have years of experience dealing with sales from residential to commercial properties, as well as insight into the real estate industry as a whole.
Conveyancing can be a scary and vulnerable thing because, whilst there is a lot to gain, there is also a lot to lose. Choosing a qualified solicitor like Wayman & Long can help to minimise these risks by highlighting precautions to put in place.
This could be an indemnity insurance policy which protects against a third-party claim following a legal fault during the transaction when buying or selling a property. While this insurance will be at a small additional fee, Wayman & Long will complete the forms for free.
Our expert legal advisors can also offer support in applying for conveyancing insurance (sometimes called abortive insurance), meaning that all costs, including our fees, will be covered if the sale unfortunately does not go through.
All of these forms and precautionary elements can be incredibly daunting, something which we understand here at Wayman & Long, but using a solicitor for your conveyancing can give you peace of mind in the knowledge that you have legal backing from us and that you are covered for anything that may happen.
It’s no secret that conveyancing involves many steps, which can quickly become quite time-consuming. From liaising with other parties to drafting and signing contracts, it can be a lengthy process.
Having an experienced solicitor to guide you through these steps efficiently will greatly reduce the time spent throughout your conveyancing. Due to their previous involvement in conveyancing, solicitors will already have an understanding of each step, as well as the best ways in which to streamline the entire process.
Furthermore, meeting deadlines is critical in moving the sale/purchase forward and avoiding delays as these can often be costly. Our dedicated lawyers at Wayman & Long are excellent at staying on target and will ensure that your transaction remains on track.
Naturally, the duration of conveyancing varies based on each individual transaction but the average conveyance times are around 2 months with no chain, or up to 3 months with a chain.
Negotiating can be difficult, and it’s not a skill that comes easily for everyone. This is why it can be beneficial to have a solicitor on your side who will ensure that your opinions are heard.
Lawyers can advocate for you by negotiating on your behalf about issues such as the sale price, terms of the contract, or other concerns that arise. Wayman & Long’s dedicated team will fight to get you the best deal we can through liaising with other involved solicitors or parties.
While many people are hesitant about hiring solicitors due to the fees, there are multiple reasons why it may actually be more cost-effective in the long run. Firstly, solicitors help to identify and place precautions, as mentioned above, for possible issues that could be costly if not properly handled.
Secondly, Wayman & Long have a transparent fee policy meaning that you know exactly what you’re paying in advance with no hidden charges.
Furthermore, we also offer the free completion of some additional forms, which is not common practice within the industry. Combined with our competitive pricing, Wayman & Long can save you money during what could have been an expensive process.
Every real estate journey is different and, as a result of this, personalised guidance is incredibly beneficial as it means any advice is tailored to your exact situation. In comparison, generic information about conveyancing from books or the Internet may not be applicable to certain transactions.
For example, Stamp Duty Land Tax (SDLT) is a challenging concept to understand and differs for every sale depending on the property and its value. However, our solicitors offer professional support on this and a range of other issues while keeping the details of your transaction in mind.
Legal documents are as important as they are complex. Hiring a solicitor includes overseeing all documents, from drafting and finalising the contract to guarding the deeds. This can be especially helpful as the untrained eye will not easily spot any loopholes or disadvantageous clauses in contracts.
Wayman & Long will always have your back so that you feel the contract is fair from both a legal and personal standpoint. Lastly, we offer the complimentary service of assisting in filling out forms for extra insurance policies that you have purchased so that we can guarantee all the correct information is provided, decreasing the already high pressure that this process poses.
When dealing with real estate, financial transactions cannot be avoided. Therefore, it is crucial to ensure that these are done in a secure manner to protect your funds.
Solicitors can help keep your finances safe through the process, whether this is through putting legal protections in place or acting as a neutral third party by holding the funds from the sale. Wayman & Long will also redeem your estate agent commission account at no extra cost, relieving you of another complex aspect that you no longer need to worry about when choosing us.
Unfortunately, things don’t always go as planned. When this happens and disputes arise, it is a relief to know that you already have legal backing from your solicitor.
Your lawyers can help you to negotiate with the other parties about certain issues and find a solution or, if a solution cannot be reached through discussion, Wayman & Long are ready to fight and address these challenges on your behalf.
Any legal process can be stressful, but it is especially tense when real estate is involved since your finances are on the line. Sourcing help from legal experts can put you at ease knowing that your funds are in good hands and you are protected in case things don’t go the way you want.
Furthermore, having an experienced and dedicated team working alongside you will make the entire process and the complexities that come with it far less overwhelming. Lastly, our solicitors can help to encourage and support you throughout the transaction, letting you feel confident every step of the way.
Wayman & Long is a longstanding, trustworthy firm with a team of dedicated and experienced solicitors. Get in touch today to find out how we can help you.
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