Conveyancing For Private Sales
Should I use a conveyancer or a solicitor?
When it comes to conveyancing for private sales, you can use either a solicitor or a licensed conveyance; both are equally competent at conveyancing a house. Although, when you choose a solicitor it is important to choose a solicitor who does specialize in conveyancing, as not all forms of solicitors specialize in conveyancing; whereas licensed conveyances' only do conveyancing. The other thing is to shop around for a good deal because prices do vary. Conveyancing prices and the cost of legal services of the conveyancing do vary quite widely; therefore it's really worth shopping around for a cheap deal as long as you can be reassured either the solicitor or conveyance will do a good job.
What is my role as the seller during the conveyancing process?
Your role as a seller during the conveyancing process is to make sure that you speedily answer all the buyer, solicitor, or license conveyancer's questions. And they will relate to things like whether there are any wood worm or damp proof guarantees, whether you have test certificates for your electrical system, gas system, whether you have the right planning permissions, building regulation consents in place. If you have prepared a dosya of information right at the beginning of the selling process, this really won't present any problems to you whatsoever.
What is a Memorandum of Sale and how do I issue one?
Memorandum of Sale is just a very simple document which you send to your buyer, which outlines the name and address of the property that is for sale, the price which has been agreed, plus the names of both the buyer's and the seller's solicitors or license conveyancer.
If the buyer asks me a question I don't know how to answer, what can I do?
When it comes to conveyancing for private sales, your buyer may ask you a question that you don't know the answer to. Hopefully, you will be able to answer most of the buyers' questions if you've compiled your useful dossier of information before you even started selling. However, it may well be that your buyer wants to know about the trains or wants to know about a local planning commission. If you honestly don't know the answer, I think you should just say that you don't know. If you think you can find out you could say "I'll try to find out for you". However, there are very few things and questions that will hold up the actual sale of your house.
What happens if the buyer pulls out once the contracts have been exchanged?
If the buyer pulls out of the sale after contracts have been exchanged, then the buyer sacrifices his or her deposit. This is likely to be about 0 of the value of the sale for most properties. But for more valuable properties, it could be just 5%. And in that case, it's the seller which pockets the deposit.
What is completion?
When it comes to conveyancing for private sales, completion is the day that you finally sell your house and it's the day on which you hand the keys over to the buyer.
