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Conveyancing Transaction - Issues to Consider Before Commencing your First

 

Conveyancing is an area of law, which nearly everyone would require assistance with at some stage in their life.

 

Conveyancing is the transfer of legal title from one person to another and can often consist of granting a charge (also known as encumbrance) as security over the property.

 

Your first home is your first step up on to the property ladder; it is also a big investment, which you will not want to embark upon without some consideration. It may be one of the most expensive things you ever purchase and If you are thinking of buying a house, one of the first considerations is to make sure that you have considered all the costs associated with the transaction.

 

There are many other costs, other than the purchase price, associated with conveyancing transactions, including; Deposit, Stamp duty, Surveyor’s Fees, Lender’s fees and chages, Land registry Fees, Removal charges. All of which cannot be covered by your mortgage.

 

You should ensure that you not only get value for money but also that the property is re-sellable and has prospects for the future.  You may wish to consider the following:

 

·        What the neighbourhood is like?

·        Is public transport accessible nearby? (i.e. Train stations or bus stops)

·        Where is the local supermarket? And do you have choice?

·        Is the area and up and coming area?

·        Is there scope for improvement? (Maybe a conservatory, paved driveway, or even an extension and not necessarily during your ownership.)

 

Although some of these factors may not be important to you, they are the usual items on the checklist of most buyers.

 

Another issue of consideration is choosing the right conveyancing solicitors and with online conveyancing becoming increasingly popular, this is something that you should research thoroughly.

 

There are a number of comparison sites to help you find the perfect conveyancing solicitors; however, you should bear in mind that cheap  conveyancing solicitors are not necessarily the best.