What is Conveyancing: Guide for 2024 Home Buyer
The cost can vary depending on factors such as the value of the property and whether it is a leasehold or freehold property. AVRillo offers a pricing structure that includes basic fees for standard cases, with additional charges for extra work or complexities that may arise, ensuring transparency and fairness in pricing.
How long does the conveyancing process take?
Traditionally, the process takes around 20 weeks to complete, but AVRillo has streamlined this to approximately 8 to 10 weeks, making it much more efficient than the average.
How is a conveyancer different from a solicitor
While both conveyancers and solicitors can handle the conveyancing process, conveyancers specialise solely in property law. Solicitors, on the other hand, may have a broader legal practice. AVRillo’s team consists of specialists, ensuring expert handling of property transactions.
What is involved in the conveyancing process?
The process involves various stages such as property searches, contract exchange, review of the draft contract, handling the mortgage, and ensuring all legal requirements are met before the completion date.
When should I instruct a conveyancer?
It’s advisable to instruct a conveyancer, like AVRillo, as early as possible in the house buying process, ideally as soon as you make an offer on a property. This ensures they can start working on your behalf promptly.
What are local authority searches?
Local authority searches are a crucial part of the conveyancing process. They involve obtaining information about the property from the local council, such as planning history, environmental concerns, and any other relevant details that may affect the property.
What is the role of the mortgage lender in conveyancing?
The mortgage lender plays a significant role, as they require certain legal checks and documentation to be completed before releasing the mortgage funds for the property purchase.
What is the significance of exchange contracts?
Exchange of contracts is a key milestone in the conveyancing process. It’s when the buyer and seller become legally bound to the property transaction, and a deposit is paid by the buyer to secure the purchase.