Why Instruct A Solicitor to Move House?
Buying and selling a home can be expensive . You must ensure you have enough to cover the deposit, surveyor’s fees, stamp duty, land registry fees and lender’s arrangement fees. The total costs can be overwhelming, and have prompted many in this time of economic hardship to look for areas in which savings can be made. As such, many have turned to the trend of ‘DIY Conveyancing’, while others are choosing to instruct a solicitor at the very last moment.
However, although cutting legal fees from your budget may seem a good idea, it can in fact cost you a lot of time, not to mention a lot of money. Those who attempt to carry out the process on their own often find they do not have the legal knowledge and expertise to complete the job to a satisfactory standard. Remember, there are reams and reams of paperwork to plough through, all of which is littered with legal technicalities. Anyone unfamiliar with property law is much more likely to make a mistake or oversight, for which they will be personally liable. This may be something trivial such as accidentally paying for a search twice, or may be much more serious such as being unable to register the deeds after completion; indeed, it is possible to be sued over a botched conveyancing transaction, potentially resulting in a large compensation pay-out.
Even if you do ask a solicitor to assist with the sale or purchase of your home, you must be wary of instructing their services in the latter stages of the transaction. A solicitor needs to check for any defects with the legal title and locate missing documents, undertake Local, Environmental, Water and Drainage and Chancel Repair searches, as well as ensure full compliance with the many regulations. As can be appreciated, all this takes a considerable amount of time. If left until after a sale is agreed the delay can cause great frustration, possibly leading to an abortive transaction. But if you instruct a solicitor at the outset, all the documents can be prepared in good time, allowing them to be issued on the day a sale is agreed. This will help create a smooth transaction, not only inducing a quick exchange of contracts, but also ensuring an easy, effective and cost-effective property transaction.
For more information about this article or any aspect of our property legal services, please call us 0800 5424496, go to https://www.solicitordirect.com/contact-us or reply to this email and we will be delighted to help you (there is no charge for initial telephone discussions).
