A government survey in 1999 found that the conveyancing system used in England and Wales is the slowest in Europe. However, the good news is that it is also the cheapest, costing somewhere between 0.5 to 1% of the purchase price.
When you're looking to buy property, it's worth asking three solicitors or licensed conveyances to give a rough estimate of their likely costs, based on the property price and whether there are issues that may require extra time to resolve. These might include leasehold queries on the newly built flat, for instance, concerning parking, management company responsibilities, and so on, or queries on a repossessed property, where the other party might wish to complete the sale with minimal expenditure of effort. Both of these cases would increase the burden on the buyer's legal representative.
Find a solicitor or license conveyancer by:
- Personal recommendation
- Looking in Yellow Pages, or the Internet
- Contacting the Law Society. You can search on their web site,
http://www.solicitors-online.com
- Searching for solicitors using the web search box at the top of this page
- Some large estate agents may offer an in-house conveyancing service, but you will probably be better off with an independent solicitor or conveyancer, as an agent's services could lead to a conflict of interest.
Your conveyancer will need to know the name of the selling agent, a list of any special points such as items included in the sale (carpets, appliances, furniture, etc.), and anything agreed regarding the condition of the property. They will also need the contact name and telephone number of your lender, and when you would like to take possession.
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