Despite the fact that conveyancing is an integral component of property transactions, many buyers and sellers remain at a loss when it comes to choosing a conveyancer. All the myths surrounding this further fuels the confusion, especially amongst those who will take part in such activities for the first time.
Whether you are a home buyer or a seller, knowing the truth behind ownership transfer is key to ensuring you choose the right conveyancer. To help you avoid mistakes that can lead to serious financial consequences, here are some of the rumours about conveyancing and the truth behind them.
Anyone who has real estate knowledge can provide conveyancing services
Anyone who has extensive knowledge of real estate in the United Kingdom can provide advice and guidance, but not actual conveyancing services. Only those who bear a license can legally carry out this process.
You only need conveyancers when buying property
Conveyancing is essential to both property buyers and sellers, therefore; both parties will benefit from having an expert on their side.
Keep in mind that transferring ownership of a property involves lengthy procedures for both sides of the transaction. As such, a conveyancer’s skills, knowledge, and expertise allow such a professional to provide legal advice and counselling to both a buyer or a seller.
Conveyancers charge hefty fees
Like with any other service, you can expect to pay a certain amount of money to enlist the services of a conveyancer. This does not automatically mean that you will already pay exorbitant fees. You must, however, do your part and compare conveyancing fees when buying or selling a property. This is one of the most effective strategies to ensure that you pay only what is necessary and that you have a general idea on how much that bill would be at the completion of the transfer of property ownership.
Equipping yourself with knowledge about conveyancing helps minimise the potential for errors, so as early as now, it would be best for you to learn just the facts about this process.