How Can Our Property Solicitors Help?
Our Property service is for anyone who wishes to purchase or sell a property. Our target audience is those between 25-60 years old as they would be the one more likely to benefit from this.
This is to ensure they are aware of the timeline of selling or buying a property in the UK. All firms are different and can promise the audience that it can be done in a certain amount of time which is visible but we want to manage clients expectations and ensure they are aware of the process/timeline before starting.
You may need Property Solicitors when:
· Purchase or selling a property
· Transferring a property by a way of a gift (transfer of equity)
· Wanting to register a declaration of trust
· Remortgaging a property
How Our Solicitors Can Help
Initial Advice
Explain the transaction, the legal process and what is required from the client. Keep the advice clear and practical.
When buying a property, first thing to do is to ensure you have the funds available. You could do some research beforehand to see what’s on the market so you can have a rough idea of the budget you may be working with.
Once you know this, you can then contact estate agents and start viewing properties. Once a property is found, start speaking to brokers if you will be needing a mortgage and then you can contact us to start the conveyancing side of things.
Legal Checks and Searches
Explain the checks, searches and legal work carried out to identify potential issues with the property or transaction.
A lot of people think we can complete transactions overnight. We’ve seen more and more clients call up or email to ask if it can be done in 1 week or 2 weeks especially if they see that there’s no chain in the transaction.
Contracts and Documentation
Explain how the legal team reviews, prepares and manages the relevant contracts and documents.
On a sale – once initial documents are in from client, we issue the contract pack to the buyers solicitor. We then wait for them to raise enquiries which we answer and refer any that we can’t answer to the client to provide us with replies.
Once we collate the replies, it gets sent to the buyer solicitor and up to them to come back with further questions or confirmation that they are all satisfied which after that we can get client to sign legal documents and discuss completion dates.
On a purchase – we wait for the sellers solicitor to send us the contract pack. Once in, we sent to client to review and confirm the boundary on the title plan. Once confirmed, we will order searches (if needed).
Most Solicitor wait for searches to come back before raising enquiries, and a few others will raise initial enquiries and once searches back, raise further ones at the back of that. Once replies are in and their all satisfied, we report to the client on the property, searches and mortgage.
We then get the client signed up on all legal documents, order mortgage funds if needed once a date has been agreed and then prepare for exchange and completion.
Completion
Explain how the solicitor helps coordinate the final stages of the transaction and completion.
Once were approaching completion stage, we start requesting funds from clients/lenders. We like to exchange contracts before day of completion so that everything is legally binding and parties are tied in for completion.
On completion, if were the sellers solicitor we wait for the buyer’s sols to send funds to us. Once we receive funds, we confirm receipt and tell them we have completed. We then ring estate agents to release the keys to the buyers.
If we are acting for buyer, we send funds to the seller sols first thing. We then wait for them to confirm receipt which they will then release key.
We give the client a ring to let them know we have completed and they can pick up keys. We then do the post completion works i.e, submit stamp duty, register property in clients name.
Types of Service We Handle
· Sale
We help clients sell their property even if its through power of attorney or executors. They can expect efficient, reliable and a solicitor who is ready to talk them through the process and be on hand to help them at any point.
· Purchase
We help clients purchase a property including new builds, buy to lets and right to buys. They can expect efficient, reliable and a solicitor who is ready to talk them through the process and be on hand to help them at any point.
· Transfer of Equity
We help clients transfer properties either by gifting to another person or removing someone from the title completely or replacing with another person. They can expect efficient, reliable and a solicitor who is ready to talk them through the process and be on hand to help them at any point.
· Re-mortgage
We help with clients remortgage properties. This can also go hand in hand with transfer of equities as some clients transfer and then remortgage at the same time. If your fixed rate is coming to an end and you wish to find another lender that gives better interest rate. They can expect efficient, reliable and a solicitor who is ready to talk them through the process and be on hand to help them at any point.
Why Choose Oakwood Property Solicitors?
Experienced Legal Team
- Experienced solicitors providing practical support throughout your property transaction.
Clear, Straightforward Advice
- We explain the legal process in plain English, so you know what is happening at each stage.
Personal Service
- A dedicated legal team to help guide you through your transaction.
Focused on Keeping Things Moving
We work with you and the other parties involved to help your transaction progress as smoothly as possible.
Conveyancing Fees
Briefly explain how your fees work and what clients can expect.
· Clear, upfront pricing
· No unexpected legal fees
· Fixed fee
If there are any additional fee that occur during the transaction, transparency to let client knows.
Frequently Asked Questions
· How much does conveyancing service cost?
This depends on your purchase/sale price and the complexity of the case. Our fees are fixed but there are additional fees that can pop up during the transaction which we will let you know if applicable to your case.
· How long does the conveyancing process take?
As long as a piece of string. The process varies depending on the type of transaction and the complexity. If it’s a straight forward transaction, we usually advise around 12-16 weeks. More complex matters can take longer such as leasehold properties.
· What searches will you carry out?
The standard searches are environmental, water & drainage and local authority. If the property is located within a mining area, a coal mining search will also be ordered.
· Do I need a solicitor to buy or sell a property?
Yes, you need a solicitor to buy/sell a property as we deal with the legal side of things such as changing ownership etc.
· What happens if my property transaction falls through?
As long as we have not exchanged contracts, your not legally binded to go ahead to purchase/sell the property. If you’re a seller, you can put the property back on the market and find a new buyer. If you’re a buyer, you can go back searching for a new property. Depending how far we have gone in the process, you may have to pay some legal fees/disbursements for work done on the file so far up until the transaction falls through.
· When will I need to exchange contracts?
Contracts are exchanged once both sides are ready, solicitor got signed documents and purchaser solicitor hold deposit funds.
· Can I pull out of the transaction at any time during the process before completion?
You can pull out of the transaction before contracts are exchanged.
· What happens after completion?
Your solicitor sorts the post completion things like submitting stamp duty, registering the property in your name at land registry etc.
Speak to our Expert Property Solicitors Today
A member of our team is always happy to discuss further with you and explain anything that you may not have understood. Please contact us for more information.
Further reading
Purchases – Oakwood Property Solicitors
WHAT TO DO NEXT
To make a start on the next step in your property journey, get in touch today to book a consultation with a member of our expert team of Property Solicitors. Call us on 0113 218 5727 to find out how we can help you.
