WHEN it comes to buying or selling property in Northern Ireland, one crucial aspect of the process is conveyancing. As a legal service provided by solicitors, conveyancing is an indispensable part of any property transaction. So let's delve into the significance of conveyancing and its essential role in ensuring a smooth and secure property transaction.
Conveyancing, in essence, encompasses a range of activities carried out by solicitors to facilitate the transfer of property ownership. These activities include the exchange and review of title deeds, conducting property-related searches and ultimately, working with your mortgage lender and bringing the sale to completion.
When you engage a conveyancing solicitor, you are essentially enlisting an expert representative to navigate you through the process It is the solicitor’s duty to safeguard your interests throughout the transaction and to ensure that you have a clear understanding of the complexities involved.
The duration of the conveyancing process can vary depending on the nature of the transaction. Generally, in Northern Ireland, it takes around 8-10 weeks to complete. However, this time line is contingent upon the timely cooperation of various third parties, including public sector agencies and other solicitors involved in the property chain.
Delays beyond your solicitor’s control can impede progress. Therefore, it is crucial to engage the services of a proactive conveyancing solicitor who will do their utmost to keep the transaction moving at a good pace. A solicitor must be proactive, not reactive.
But why is it imperative to have a conveyancing solicitor in the first place?
Conveyancing, like any other area of law, has plenty of potential pitfalls. For most individuals, purchasing a property represents the most significant investment they will make in their lives. It is therefore essential that this momentous transaction is executed correctly to avoid costly problems in the future. A conveyancing solicitor's expertise and experience will ensure that all legal aspects are handled meticulously, providing you with the necessary peace of mind throughout the process.
Now, let's address the costs associated with conveyancing services. It's important to note that legal fees for conveyancing can vary among solicitors. Factors such as the type of property and the unique circumstances of the transaction often influence these costs.
However, it is crucial not to base your decision solely on price when choosing a solicitor. As with any product or service, quality matters. Property experts recommend considering various factors beyond the price tag. Take into account the conveyancing solicitor's experience, their law firm's online reviews, their unique selling points and most importantly, whether you feel confident in establishing a strong client-solicitor relationship with them.
Apart from legal fees, there are also conveyancing disbursements to consider. These are payments made by your conveyancing solicitor on your behalf, which will be included in your final bill. These disbursements are made for your convenience, with one example being the fee charged by Land & Property Services (LPS) to register your ownership of the property.
To summarise, if you are engaging in a property transaction you require a solicitor to see it through. Given the magnitude of the investment, choose wisely.
:: Glenn Reid (Twitter: @glenn_reid_) is a legal marketing specialist and marketing manager of McCartan Turkington Breen Solicitors (www.mtb-law.co.uk)
