| Buying or selling a home or property can be a stressful time. You don't want your equity eaten up in expensive solicitor fees, yet you need someone to handle the legalities of selling or buying a home. Online conveyancing offers a solution to your troubles. Everyone who sells a home or property must put together a Home Information Pack (HIP). This is required by law. Many people wonder why they cannot put this pack together themselves. The fact is they can; however, the risks of wrongly preparing this package outweigh the cost of hiring an online conveyance company to handle the documents. In the past, family solicitors handled these types of affairs. Their fees were quite high, yet people had few choices in this regard. Online conveyancing took the high prices out of this service and made them quite affordable for nearly everyone. For this reason, most people no longer prepare their own HIP. For people who cannot afford the service immediately, online conveyance companies can find home inspectors who are willing to put off their fee until the HIP is prepared, bringing the fee potentially closer to the selling date. There are other conveniences to consider when choosing an online conveyance company versus a traditional solicitor. Long distance issues can be solved with online conveyancing. Online conveyancing can handle everything over the phone, fax or email. There's no need to meet in person and take precious time away from your busy life. A fixed quote is given ahead of time to avoid any hidden charges. Transparency is key to minimize costs. The legal work that an online conveyance company will provide is quite extensive. If you are selling a property, your online solicitor will handle the following prior to the sale: - Prepare your home information pack (HIP)
- Prepare and send the draft contract, HIP and other legal documents to the buyer's solicitors
- Answer the buyer's solicitor questions
- Receive a copy of the contract back from the buyer
- Confer with you on any unusual provisions regarding deposit
- Oversee your signature on the sale contract
- Agree on a completion date
- Exchange contracts
After the sale, the online conveyance company will handle: - Get the repayment figure from your Building Society or bank as well as commission details from the estate agent
- Have you sign the transfer deed
- Receive the sale money and complete the sale
- Send deeds to buyer's solicitors
- Pay off your old mortgage and the estate agent fees
- Pay any balance to you
If you are purchasing a home or property, the online conveyance company will handle the following prior to the sale date: Receive the draft contract, HIP and other legal documents - Make preliminary searches for non-HIP properties and handle questions
- Check over the legal paperwork and handle questions
- Receive and check replies to any questions
- Receive and check details of your mortgage
- Agree the amount of deposit, obtain it and clear it
- Report to you on all legal aspects, preparing the contract and other documents for signing, receive the signed documents
- Agree on a completion date
- Exchange contracts
After the sale, the online conveyance company will handle: - Ensuring the property is insured
- Further searches against the title and against you
- Having you sign the mortgage deed and obtain funds
- Preparing the transfer deed
- Requesting the mortgage money in writing
- Paying the purchase money and completing the purchase
- Paying the stamp duty, receiving the stamp duty certificate and registering the deeds
- Completing the paperwork on any life policies
Many online conveyance companies also handle wills, family matters such as divorce and commercial legal issues. |
