There are various checks we stock out for clients looking to shop for or lease a property. These are geared toward ensuring everything about the transaction complies with the law and ensuring there are not any issues that are likely to affect you when occupying the property. solicitors cardiff will help in locating conveyancing solicitors in Cardiff.
Exactly what checks we are going to perform will depend upon the precise property and circumstances, but common checks include:
Local searches e.g. public footpaths crossing the property, building regulation entries. Planning permission entries etc.
Drainage and Water searches e.g.is the property connected to mains sewers and water
Land Registry searches – establishing the property boundaries, checking who has the title to the property, etc.
Bankruptcy searches – applicable if you’re employing a mortgage to shop for the property
We will provide an entire breakdown of the checks and searches we feature out and any relevant results they produce, similarly as why these checks and searches are required.
How does the exchange of contracts work?
One of the foremost important parts of the conveyancing process for purchasing or selling a home is the exchange of contracts. Early within the conveyancing process, the seller’s solicitor will draft a contract of sale and send this to the buyer’s solicitor for review. The buyer’s solicitor will identify any potential issues and run through these with the seller’s solicitor.
Once all parties are pleased with the contracts and therefore the buyer’s solicitor has administered all of the mandatory checks and searches, the exchange of contracts can happen. This involves the buyer’s solicitor and therefore the seller’s solicitor reading the contract to every other over the phone to make sure the copies are identical, then sending one another their signed copy through the post, thus “exchanging (swapping) contracts”.
Once the exchange of contracts has taken place, the sale becomes legally binding, meaning neither party can back out without risking serious legal and financial consequences. Exchange of contracts usually takes place between 7 and 28 days before ‘completion’ i.e. the date when the balance of the sale price is paid and therefore the property officially changes hands.
How long does conveyancing take?
Exactly how long conveyancing will take depends on the sort of property, the character of the transaction, and various other factors. However, in most cases, the Conveyancing process will be completed within around 6-8 weeks. we’ll offer you a practical estimate of how long the method will take at the beginning and can keep you updated throughout of any issues that would affect the timeframe for your conveyancing.
One of the benefits of working with our highly experienced Conveyancing team is that we all know the common issues that may foot-dragging a transaction and the way to avoid them, moreover because the fastest ways to repair issues that do arise. this implies we will often get a property transaction completed faster than many of our rivals.
Our expert conveyancing solicitors work throughout South Wales, West Wales, and beyond. we will guide you thru the whole conveyancing process ensuring your transaction goes ahead smoothly and on schedule. we’ll keep you protected legally and financially and confirm there aren’t any nasty surprises anticipating you after the deal is finished