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Frequently Asked Questions

General Conveyancing Questions

Property Purchase Associated Questions

Property SaleAssociated Questions

General

Q. If I instruct you who will be doing my conveyancing? A: We cheapconveyancing.net will appoint a solicitor on our panel to carry out your legal work for your transaction and insure the case runs smoothly and completes within your allocated time scale.

Q. Is the conveyancing done online or will I have chance to speak to my solicitor acting for me? A. Your instruction is normally taken on line or over the telephone. As soon as we have confirmed your instruction and passed your conveyancing particulars to our panel member, they will email you your initial letters and also send a hard copy of the letters in the post to you. You can maintain contact with your case manager by letter, telephone or email. You will have the direct dial of your case handler.

Q. How long does the conveyancing process normally take? A. It depends on individual circumstances but an average sale and or purchase take between 6 to 8 weeks. A remortgage transaction normally takes around 2 to 4 weeks. We try and make the process as quick as possible. If you have an individual requirement for time scale please let us know at the outset. Conveyancing cases are individual and we can complete some cases much quicker but as the process is a two way process, we are reliant on the other side solicitors also to be quick with our requests for information.

Q. What is exchange of contract mean? A. before exchange of contracts occurs, you are legally entitled to cancel the transaction and not proceed with your transaction without legal recourse. When exchange of contracts between the solicitors has occurred, you are legally bound to complete the transaction whether you are buying or selling your property. Usually before exchange of contracts occurs, a 5% or 10% deposit is required by the solicitors to pass to the sellers solicitors. Usually prior to exchange of contracts, the date for completion is set.

Q. When do we agree to complete transaction? A. Prior to exchange of contracts, the completion date is usually set and agreed. Usually it is advised to leave at least 1 week duration between exchanging of contracts to completion . This time allows both parties to prepare for the anticipated completion date and arranging removals and get packing for the completion day.

Q. Is it necessary to visit the solicitor’s offices to sign contracts? A. it is not required that you come to the solicitors offices in order to sign contracts. Contracts and document can be sent to you by email and via the post. They can be returned via post to us.

Property Purchase Questions

Q. The property we are buying is a repossession so can we exchange in 28 days? A: When purchasing a repossession property, vendors impose a strict deadline to exchange contracts. In instances where the purchaser is a cash purchaser, they are usually given 14 days to exchange and in instances where there is a mortgage lender the buyer is given 28 days to exchange. We can endeavour to complete within your required timescales but we must be informed on the onset that you have a particular deadline to purchase. Additional legal fees may be charged for property purchases that require quick exchange. Transactions requiring quick completion may be subject to a extra charge for quick completion.

Q. Why may the local authority search cost vary? A. The local authority search is a necessary requirement in any property or land based transaction and reveals any planning, environmental health, financial, highways and a number of other restrictions recorded on the subject property. A fee is charged for this search and varies from the relevant district council in which you reside.

Q. Are the environmental and drainage searches compulsory? A. No! The drainage and environmental search are not compulsory but are definitely recommended. Consider that a clean environmental search and drainage search can be a strong selling point and can be obtained within days. You can ask for these searches at additional rates.

Q. Do I need building insurance ? A. when you are purchasing a property, you are required to protect your interest in the property as soon as you have exchanged (legally binding from this point forth). If you have used a mortgage lender to fund your purchase, they will insist of seeing your building insurance details. If you are selling your property, you should ensure you keep your building insurance up until you have completed your sale transaction.

Q. Are there any other costs involved? A. If you live in a mining area, you may have to pay an additional fee called the Mining Search. This fee is normally £21.50. Should you choose to have an Environmental Search the charge for this is £41.95 and for the Drainage Search is £42.50. Other fees that may arise such as the following with their respective prices; Deed of Postponement (£75.00 plus VAT); First Registration (£100.00 plus VAT); Shared Ownership (£75.00 plus VAT)

Q. How do I get my house keys? A. the seller’s solicitors usually confirm receipt of monies for the sale of the client’s property and then notify the estate agents to release the keys. It is advised that you contact your estate agent to advise of your anticipated completion date. They can help you arrange keys collection. Please note they will not release keys till the sellers solicitors have confirmed receipt of full funds for completion of sale of property.

Property Sale Questions

Q. When will I receive the proceeds of my property sale? A. prior to completion you will be sent a completion statement breaking down how funds received will be used to pay off any outstanding mortgages or charges against the building. The completion statement will also show any deductions required to pay the solicitors fees and disbursements and also any fee owed to the estate agents. The excess funds left over after deductions, as per the completion statement, will be forwarded to you via bank transfer into your bank account that you have provided.