There is a lot to consider when buying or selling a home, and you are likely to have a lot of communication with a conveyancing solicitor. These solicitors specialise in dealing with the paperwork and legal processes of transferring home ownership from one person to another. Here is a guide to six conveyancing documents that are part of the journey to a new home.
1. Contract of Sale
This is a document that sets out the terms and conditions involved in a particular sale. This includes items such as the purchase price of a property, the amount put down as a deposit, completion date and other conditions required by either the buyer or seller.
2. Vendor Statement
This defines the details of a property, such as the titles, planning permissions and any restrictions that affect the property. This is sent to the buyer before contracts are signed.
- Land Transfer
The purpose of this document is to transfer the title of a property from the seller to the buyer. For the ownership to be transferred, it needs to be signed by both parties.
4. Mortgage Details
These include documents that relate to the mortgage being taken out by the buyer, detailing the conditions of the loan and confirming that the funds are available.
5. Discharge of Mortgage
This is a document relating to the mortgage of a property that needs to prove that the outstanding balance has been paid before a change of ownership can take place.
6. Settlement Statement
This document states the financial aspects of the house sale and purchase, such as the price of the property as well as any taxes and adjustments. It also includes the final balance which is due upon settlement.
Enlisting a Conveyancing Solicitor
All these steps need to be completed for a successful transfer of ownership between parties, which is why buying or selling a home can be stressful. According to Mortgage Introducer, many people feel they have little control during the house-buying process. That is why it is essential to hire a quality conveyancing solicitor to help everything run smoothly.
Always do your research when choosing a firm to work with, as conveyancing solicitors quotes can differ. It is also important to choose a firm that has good reviews, as this will give you peace of mind that your sale or purchase is being expertly handled. More information on conveyancing quotes can be found at https://www.samconveyancing.co.uk/conveyancing-quote.
Buying or selling a home can be a challenging process, but with a good solicitor on your side, the journey should be as hassle-free as possible. Once the process is complete you will be able to enjoy your new home for many years to come.
