Property conveyancing and legal process – Part 2

June 28th, 2017 HIP-Consultant.co.uk Posted in Guest Articles, Land Registry, Property Conveyancing, Property Market 4 Comments »

In part 2 of our property conveyancing guide we look at what is involved in the closing stages of the home buying and selling process. You may wish to read Part 1 of the Property Conveyancing Guide here.

Signing the contract

signing contractOnce your lawyer is satisfied that all of his enquiries have been dealt with; he has seen satisfactory search results and he is in possession of his copy of the formal offer of mortgage you will be invited to sign the contract and various other papers. This will either be in person or through the post. You should also receive a report, often called a “property report” at this stage which will set out any salient points arising from the searches and enquiries.

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Property conveyancing and legal process – Part 1

June 22nd, 2017 HIP-Consultant.co.uk Posted in Guest Articles, Land Registry, Property Conveyancing, Property Market 5 Comments »

What is “conveyancing”? – Simply, it is the legal process of transferring ownership of land and property.

Instructing a lawyer

Once you have decided on a property, made an offer and had that offer accepted it’s time to instruct a lawyer. This can be either a solicitor or a licensed conveyancer. You should try not to pay over the odds for property conveyancing work. When obtaining a quote you should be given a fixed fee but ask for a list of any additional fees charged for different aspects of the transaction.

Instructing a lawyerSome firms might charge an extra fee for completing the SDLT1 form for example, even though this will not need to be done in every case. These additional fees can really push up the final bill. An average bill for professional fees only (i.e not including addtional search fees, land registry fees etc) would probably be around £300-£400 at the moment.

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Transfers of Equity and Legal Ownership of a Property

November 14th, 2016 HIP-Consultant.co.uk Posted in Land Registry, Property Conveyancing, Property Market 23 Comments »

A transfer of equity is a transaction where legal ownership of a property changes hands but at least one of the original owners remains on the title. For example where a couple transfer it into the sole name of one or other of them or a person is added to the title.

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How do I find out the boundaries of my property and obligations?

April 15th, 2015 HIP-Consultant.co.uk Posted in Land Registry, Legal 1 Comment »

There may be some instances whilst you are living in your home that you want to know the boundaries of your property. You may be looking into an extension on your home or you may have some extravagant landscape gardening in mind. It is important that you understand the rules behind property boundaries in the UK to avoid any property boundary disputes.

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Are You and Your Family at Risk from Radon?

June 4th, 2014 HIP-Consultant.co.uk Posted in Environmental Searches 1 Comment »

Responsible for the deaths of more than 1,000 people every single year, radon gas is the silent killer that could be finding its way into your home every second of the day, and yet still so many people fail to recognise or understand the risks of this poisonous gas.

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Conveyancing Referral Fees – Money for old Rope?

May 1st, 2014 HIP-Consultant.co.uk Posted in Buying Property, Property Conveyancing, Selling Property No Comments »

The property market is on the up again and that can only be good news for everyone. Where there is a buoyant market however there will be opportunists swooping in and looking to cream off profits from the unsuspecting general public. The property market is no different. The opportunists we’re referring to here are estate agents and mortgage brokers and the profits are in the form of referral fees.

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New Online Conveyancing Platform

April 24th, 2014 HIP-Consultant.co.uk Posted in Press Releases, Property Conveyancing No Comments »

There’s always a lot of nervousness around buying or selling a house. It often comes during the process known as conveyancing. First time buyers in particular are often left feeling inadequate or bamboozled by such an elaborate process.

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Buying a property online

December 4th, 2013 HIP-Consultant.co.uk Posted in Buying Property, Property Conveyancing No Comments »

Ever since the emergence of e-commerce, a lot of us have ditched the shops in favour of ordering online from the comfort of our homes. In fact, as The Guardian reports, internet shopping is set to account for the biggest proportion of sales yet.

You may be familiar buying our clothes and even groceries on the internet, but have you ever considered buying a property online? Advancements in technology have made this possible, so here is everything you need to know.

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New vs old houses: A guide for first-time buyers

November 29th, 2013 HIP-Consultant.co.uk Posted in Buying Property, Property Conveyancing No Comments »

One of the most basic yet difficult decisions when buying your first home is deciding whether to purchase a new-build or an older property. You can decide beforehand in order to streamline the selection process, but you can also use pros and cons to determine the best option when weighing up one type of property against another post viewing.

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Five Things Your Need to Know When Buying A House

June 27th, 2013 HIP-Consultant.co.uk Posted in Buying Property, Property Conveyancing No Comments »

Whether you’re a first time buyer trying to get on the first rung of the property ladder or you consider yourself a bit of an expert when it comes to buying a house there are still several things you need to consider each and every time you’re looking to buy.

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Failure to Complete Following Exchange of Contracts

April 25th, 2013 HIP-Consultant.co.uk Posted in Property Conveyancing, Property Market No Comments »

At any time during Conveyancing transaction up to the point that contracts are exchanged both the buyer and the seller are free to withdraw from the transaction. They can do so without incurring any penalty and they do not need to give any reason.

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