When buying or selling a property, you’ll encounter the term “conveyancing solicitor.” But what exactly does a conveyancing solicitor do? Here, we’ll break down a conveyancing solicitor's key roles and responsibilities, helping you understand why they’re essential for a smooth property transaction.
Whether you’re new to the property market or a seasoned buyer or seller, knowing the process can help make your experience more straightforward and less stressful. Our Cambridge Conveyancing Solicitors are experienced in handling property transactions across the region and offer fixed-fee quotes for all our services, so you know what to expect right from the start.
The Role of a Conveyancing Solicitor
A conveyancing solicitor is a qualified legal professional who specialises in property law and oversees the legal aspects of transferring property ownership from one party to another. From managing complex paperwork to ensuring all legal requirements are met, your conveyancing solicitor works to safeguard your interests throughout the process.
What Are the Key Stages of Conveyancing?
1. Initial Instructions
The conveyancing process typically begins with you instructing a solicitor. This involves selecting a conveyancing solicitor, ideally a local professional familiar with the Cambridge area, as they’ll bring helpful local insights to your case. After agreeing to a fixed fee, the solicitor begins by gathering information about your property and transaction goals.
2. Legal Checks and Searches
Conveyancing solicitors conduct a range of legal checks, including land registry checks, title deed reviews, and property searches, to ensure no legal issues are associated with the property. Common searches include:?
Local authority searches**: Checking for any potential planning permissions or restrictions on the property
Environmental searches**: Ensuring the property is free from environmental risks, like flood zones or contamination
Water and drainage searches**: Confirming property connection to the public water and sewerage systems
3. Drafting and Reviewing Contracts
Once the property searches are completed, your conveyancing solicitor will prepare the necessary legal documents, including the draft contract. This contract outlines the terms of the sale, and your solicitor must thoroughly review it to ensure everything is correct. They’ll negotiate with the other party’s solicitor if needed, ensuring your best interests are protected.
Managing the Finances in a Property Sale
Deposit and Payments
Your conveyancing solicitor manages all financial transactions related to your property sale, including the deposit. A 10% deposit is standard for most transactions upon exchanging contracts, and your solicitor ensures this is handled securely and correctly.
Stamp Duty Payment
One of the key financial aspects is calculating and paying any applicable Stamp Duty Land Tax (SDLT). Your solicitor will make this payment, ensuring compliance with all legal requirements.
Finalising the Process: Exchange and Completion
1. Exchange of Contracts?
Once all checks are completed and any issues are resolved, contracts can be exchanged. At this stage, the transaction is legally binding. Your conveyancing solicitor coordinates this step, ensuring all required documents are signed and exchanged.
2. Completion Day
Completion day is the final stage in the conveyancing process, where funds are transferred to the seller, and the property keys are handed over to the buyer. Your solicitor will ensure that all final payments are made, and they’ll register the property in your name with the Land Registry.
