Transfer Process Guide | Thomas & Thomas Lawyers
With over 4.5 billion people worldwide on social media, we are constantly bombarded with opinions, viewpoints and even fake news on various topics. While it is interesting to hear the perspectives of everyone around us, not everyone is able to provide accurate legal advice.
Law firms play an indispensable role in the legal landscape by leveraging their professional training and expertise to navigate the complex area of law. Whether you require legal assistance for personal or business purposes, a legal representative can provide you with valuable advice and support, particularly when it comes to transactional matters such as the transfer of property. Having an expert opinion at your disposal can make all the difference in achieving a favorable outcome.
The transfer process
Conveyancing is the legal process of transferring ownership of property from one party to another. This includes any type of property purchase, whether you are a buyer or seller.
The official ownership transfer process begins once the seller’s legal representative issues a contract with the buyer’s legal representative and continues until the buyer receives the keys to the property, which marks the legal completion. Before completion, the legal representatives of the buyer and seller exchange contracts to set the completion date.
The process usually takes around 8 to 12 weeks, but a lawyer can speed up the process by quickly submitting the relevant information on your behalf and ensuring that it progresses without any delays. Also make sure you receive regular updates from your attorney, informing you if any issues arise.
Buying and selling property
Buying and selling property may seem simple in theory, and in an ideal scenario, it should stay that way. However, in the UK, conveyancing is a highly regulated area, with strict regulatory requirements in place for good reason. This often results in legal consequences that can be difficult for untrained people to handle on their own. This is where legal professionals come in with their expertise and specialized skills to guide you.
Normally, once all parties have formally signed the contract, the legal representatives or transfer agents of both parties work together to agree a completion date and then proceed to exchange contracts. It is the responsibility of the seller and their conveyancer to address any questions or concerns raised by the buyer prior to signing the contract. When the Buyer’s legal representative is satisfied with all responses to inquiries and search results, he or she will notify the Buyer and then agree a completion date with the Sellers and proceed to obtain ‘a deposit from the buyer to exchange the contracts. However, it is important to note that the specific details and requirements of a real estate transaction may vary depending on the complexity of the legal title, entries in search results, and the terms agreed upon between the parties involved. Therefore, it is always advisable to consult a qualified legal professional or conveyancing agent for accurate and up-to-date advice on a specific legal matter.
Ultimately, the legal representative will guide their clients.
Get in touch
At Thomas and Thomas Solicitors we understand that buying and selling a property can sometimes be intimidating, especially given the requirements involved. We provide trusted residential and commercial conveyancing services. To make buying and selling a property as simple as possible, we offer a free online quote service, which can be accessed at any time from our website or by contacting our office for a quote. Once this quote is accepted online, you will instantly receive an email. with documents to complete, helping to streamline the entire process. For more advice on conveyancing, contact our team of experts.
