Who does Conveyancing and what does it entail?
Property conveyancing in Reading—as with the rest of the United Kingdom—is done by a solicitor who specializes in property law and all the legal aspects of selling and buying homes and other properties. Generally, a conveyancer is also a qualified solicitor—lawyer—who has spent years training to understand every aspect of the law in connection to property.
United Kingdom law states that all official conveyancers must be licensed under the CLC—Council for Licensed Conveyancers. The main purpose of the CLC is to regulate and officiate for the conveyancing profession. They secure the proper consumer protection and set entry standards for the profession. The long process of conveyancing begins when the prospective buyer visits the property to view it. If the viewing goes will the buyer may make an offer to the seller on the spot, or they may come back for a second viewing. In the event that they decide to make an actual offer on the property, they will likely contact the estate agent who will negotiate with their seller. Once an offer is accepted that is by no means the end of the process, in fact it is actually only the beginning. The land registry, the land search, the survey, the contract and all the legalities of the property purchase is taken over by the solicitors who compile all the property information.
They also prepare the contract for both parties to sign and then exchange. Two of the major parts of the conveyancing process include the contract exchange, which is usually the long awaited telephone call after so many months and the completion—when you get the keys to your new home and the process is all done and dusted.
Laws and Changes that Affect Conveyancers
Since October 2011 the Legal Services Act has meant that many traditional solicitors have entered into a fight regarding who can now legally do conveyancing. The Legal Services Act introduced a more open marketplace for non-solicitors to enter the conveyancing business, which has threatened some businesses altogether. However, the Alternative Business Structure laws are far more stringent than many first believed and it doesn’t necessarily give non-solicitors a full key into the doorway of conveyancing, but instead have to meet certain criteria.
For more information visit online.