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Conveyancers
The legal process of buying and selling a property is called conveyancing. Conveyancer is the generic term given to either a conveyancing solicitor or licenced conveyancer. All solicitors practising law in England and Wales must also be registered with the Law Society. There are separate societies for Northern Ireland and Scotland.
As soon as you place an offer on a property, your estate agent will ask for your conveyancer's details to pass onto the seller's conveyancer. It's therefore wise to establish contact with a professional before you start looking for a property to avoid having to make this important decision in a rush. A conveyancer's job is to take care of all legal aspects of moving house, which include:
• Local search
• Land charges search
• Land registry
• Stamp duty
• Home information packs
One of the best means of finding a suitable conveyancer is through a personal recommendation, so ask friends and family who have bought a property in the area or the estate agent or mortgage broker.
Apart from the conveyancing work there is also the lender's legal work to be done. Your conveyancer could act for the lender, which should save you money. The principal task is to draw up a mortgage deed, which sets out the conditions of your loan. The lender will hold this and the title deeds of your property until the loan is paid in full.