General Guidelines Set Up By Highly Acclaimed Solicitors Specialising In Conveyancing And Property Law, Makes Property Trading A Seamless Operation

By Author: Grant Saw Solicitors LLP
Total Articles: 11
Comment this article

Property transactions, completed by experienced property lawyers, also specialising as conveyancers, will help with seamless property transactions in the shortest space of time. Well-established law firms with specialist conveyancing departments that are members of the Conveyancing Quality Scheme (CQS), are the best partners for the job, as it adds credibility to the service provider.

CQS provides industry recognised quality standards for residential conveyancing practices. Firms who are affiliated, have an acquired status as a trustworthy partner, which applies to related fields in the trading of property, including working with clients, lenders, insurers, and estate agents.

At well-established law firms who have a specialist conveyancing department, it is essential to adhere to general guidelines when a client wants to buy or sell a home. Providing a highly acclaimed service while customers are satisfied, should be the benchmark of all institutions involved in property transactions. Many unexpected glitches can occur during a transaction, but to find a workable solution and put the client at ease, is the best ...
... possible outcome.

When conveyancing and property lawyers are affiliated to the Conveyancing Quality Scheme, certain KPIs need to be adhered to. The integrity of the Senior Responsible Officer and the rest of the senior conveyancing staff should be steadfast and beyond question. Good practice management standards should be part of the company ethos and general principles by which the business envisions itself. Strict adherence to conveyancing procedures should be practiced, while the protocol of the CQS is followed to the letter.

In the case of a freehold property, the conveyancing transaction could take between 4 and 6 weeks from the time the correctly completed documents are submitted.

A leasehold property has a timeline of 6 to 8 weeks from receipt of the completed documents. This additional time is necessary for inspections to determine the condition that the property was left in, having an impact on service charge issues.

Other matters that may cause delays will be where discrepancies are detected regarding property or building regulations, proposed renovation plans, or where financing regarding a mortgage is the issue. The suggested timelines are a rough estimate that is subject to change, depending on the pitfalls along the way. Fast transactions are only possible when all parties work together to provide documentation timeously, and with no unnecessary irregularities cause a holdup.

A minimum period of 14 days should be allowed between the exchange of contracts and completion of the sale or purchase. This will afford the solicitors time to complete the paperwork and legal paraphernalia and for the prospective seller to vacate the premises. The completion date must occur during the working week and the property must be vacated by 12 noon on the date agreed upon.

Reputable solicitors should advise on contracts negotiated between buyers and sellers of properties and estate agents, who will act on behalf of the seller, being responsible for the fees. When deposits are paid to estate agents, always obtain a receipt, and advise the solicitor.

Contracts need to be exchanged between buyer and seller to make it legally binding. Before that, it can easily be negated on or cancelled, and fees that have been paid will be non-refundable. Once the exchange of contracts take place and both ends are not upheld, it will amount to breach of contract.

On completion of the transaction, money is transferred to the seller’s solicitors by the buyer’s solicitors, and the keys will be handed to the buyer. Solicitors should complete financial transfers. Well-respected solicitors and conveyancing experts guarantee a seamless process, by completing matters efficiently, and by guiding all parties through the process, in a professional manner.

About Us:

Based in South-East London, with offices in Greenwich and Blackheath, Grant Saw Solicitors LLP is a well-established, highly acclaimed firm of solicitors, established in 1851. Offering divergent services to individual clients and businesses, this accredited, award-winning practice has received the highest accolades for consequent excellence for different segments of their practice. The combination of a glorious history and tradition, intertwined with a fresh modern approach, has been so successful that the firm has been reaccredited by Cyber Essentials Plus for the next twelve months and is currently shortlisted for the 2022/23 Lawnet law firm of the year award. For more information, please visit: https://grantsaw.com.