Conveyancing - what you need to know

Conveyancing - what you need to know
19th July 2007

Most people buying property do not choose to do their own conveyancing, but pay a solicitor to do this for them. As a developer, there may be other areas where you would want legal advice as well (e.g. terms of leases).

Personal recommendation is the key to finding a quality solicitor. Ask friends, associates and anyone connected with law. Remember that conveyancing is most often done at a distance - so it doesn't matter if the solicitor isn't local to your property.

Cheapest is not always the best. It is worth spending more if you can find a lawyer who is both quick and efficient. The cost of a deal falling through, bad or slow legal advice is much greater than the extra cost of hiring a quick and efficient solicitor. Taking the cheaper option in the short term can wind up costing you a lot more money down the line.

Expect to pay approximately 0.5% of the property price for a London solicitor and slightly less for a quality regional solicitor. Generally, London solicitors are faster and work longer hours than regional ones. However, this does vary, so check.

If absolutely necessary, a top lawyer should be able to conduct searches on a property by hand and exchange contracts within two hours of the vendor accepting the buyer's offer. Consider this when discussing turnaround times with your solicitor.

A licensed conveyancer differs from a solicitor in that their area of expertise is restricted to house-buying. Their fees are broadly the same. Whilst you may prefer to employ someone with such specialist knowledge, do bear in mind that it may pay you in the long run to build up a good relationship with a firm of solicitors who can offer advice on a wider range of issues, such as the drawing up of wills.

Here's what to look for in a good conveyancing solicitor:

  • Thoroughness - it is important that enough time is spent on your case to ensure that the property is not saddled with legal problems.
  • Promptness - in a competitive market, deals need to be done quickly and to a required timetable. If the deals get held up, it can cost you money or you may lose the purchase/sale altogether.
  • A history free from negligence claims - you want to know if anyone has ever made a claim against them - even if the claim was not successful, you would be wise to treat this solicitor with caution. Contact the Law Society for information on individual firms.

If you don't know where to start in selecting a solicitor, you could try the Law Society's public enquiries department - www.lawsociety.org.uk (Tel: 020 7242 1222) - for information on how to get a list of solicitors. Make sure you ask whether any firm has a history of negligence claims.

If you do need to resolve a dispute with a solicitor a claim for negligence can be made to the Office for the Supervision of Solicitors (formerly the Solicitors Complaints Bureau).

The address in case you need it (we certainly hope you won't) is:

Office for the Supervision of Solicitors
Victoria Court, 8 Dormer Place,
Leamington Spa, Warwickshire CV32 5AE
Tel: 01926 820 082

If you are unhappy with the response you get from this body, take your complaint to:

Legal Services Ombudsman
3rd Floor
Sunlight House
Quay Street
Manchester M3 3JZ
Tel: 0161 839 7262

Remember, the complaint process is worth avoiding - so spend your time finding a good solicitor instead!

It's important to manage your solicitor well, so be clear with him or her about any deadlines that you need to meet or whether you are required to complete or exchange rapidly. Make sure that your solicitor is able to meet those deadlines and that they are not about to take a long holiday in the middle of the negotiations.

Stay in contact with your solicitor. If you are expecting papers from him or her, then telephone if they get delayed, don't allow time to drag.

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