MOVING HOME - Frequently Asked Questions

What is Conveyancing?

Conveyancing is the legal term given to the process of buying and selling a house or transferring ownership of a property.

How long will it take?

If the property is empty and the buyer does not require a mortgage, a sale or purchase can all be completed in a few days but this is very unusual.

It is more likely that a mortgage will be required and there will be a chain of transactions.  If that is the case, it can take between six and twelve weeks from start to finish.

The time taken varies depending on the length of the chain involved, mortgages, searches and sometimes the speed of buyers, sellers or their conveyancers.

The sale of leasehold properties generally takes longer due to the need to obtain additional information from the managing agent or landlord.

We always do all that we can to progress your transaction as quickly as possible, but we cannot offer any guarantee about this and you should not believe anyone else that does!

I need to complete as quickly as possible - can you help?

We know that some property transfers need to happen more quickly than the standard 6-12 week timeframe.

If you let us know from the outset, we can pull out all the stops to complete in a shorter time.  Providing that other parties are equally motivated, and there are no delays with searches or mortgages, we can usually work with our clients to meet their deadlines.

How soon do I need to pay any money?

On a sale, normally no payment is required from you in advance and our fees are paid from the sale proceeds or immediately prior to completion.

However, if it becomes necessary to obtain additional documentation, we will ask you for a payment to cover the cost of obtaining the same.  This could be required in circumstances whereyour require copies of:

• A Tree Preservation Order
• Planning consents
• Building Regulation Completion Certificate
• Schedule of Coal Mining Claims
• Interpretive reports

What happens if my sale falls through – will I still have to pay?

Yes – you will be charged for any work we have undertaken on your behalf.  This enables us to ensure that all clients continue to receive a personal and high level of service at a competitive price.   Whilst we are aware that some other solicitors sometimes offer a ‘no sale no fee’, you should consider whether they are more expensive or charge a fee for an insurance policy.

I am in a negative equity position with my house and it is worth less than I paid for it - how can a solicitor help?

A skilled conveyancing solicitor can do a lot to help you and your financial position, should you find yourself in negative equity.
Perhaps you have secured further lending on your home, or are finding it harder and harder to make ends meet as interest rates have crept up. You may be in mortgage arrears following a change in personal circumstances or perhaps house prices in your area have fallen since you bought your property.

Your solicitor can negotiate on your behalf with the lender, as often a repossession is the least satisfactory outcome for the mortgage company.
We can often negotiate a lower settlement amount, meaning that the proceeds from the sale of your house still could cover the outstanding mortgage and leave you in a better financial position to start again.

It is often a hard call to make, but contact us today and we might be able to find a way to solve a negative equity situation and ensure future peace of mind.

I am getting divorced and the family home is being sold - how do I protect my interests?

If you are getting divorced, it is likely that the matrimonial home may well be one of your most valuable assets.

Within Elliot Mather, we also have expert divorce lawyers so we can handle your divorce and property law requirements all under one roof.
Very often we represent people who are separating from a partner or getting divorced, including dividing or disposing of assets such as property and they often find that having one law firm to deal with all aspects means that their best interests can be represented throughout.

Feel free to discuss any of these issues with us and we will help you plan for the present and the future.

I am selling a property to a family member. Do I still need a solicitor?

Yes. You might like to consider using the same solicitor to represent both the buyer and the seller.  Providing that there is no conflict, this will save you time and money and keeps everything in one place.

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