Conveyancing is a legal term that describes buying property in the UK. Conveyancing solicitors in Portsmouth, such as Andrew & Andrew, can guide potential clients through the legal paperwork and protect their interests throughout complex conveyancing transactions.
How can conveyancing solicitors in Portsmouth help with the contract?
One of the most important things that a conveyancing solicitor in Portsmouth will do during a conveyancing transaction is the drafting and revision of the contract. A contract is usually drafted by both parties to ensure that the rights of the seller and the buyer are equally represented and protected. As such, the buyer’s conveyancing solicitor will work closely with the seller’s conveyancing solicitor in order to reach a mutually beneficial agreement.
Property contracts cannot be the same, since properties are never the same. As such, there are no ‘one-size fits all’ solutions when it comes to the contract. Contracts can change at every stage of the negotiation, yet a conveyancing solicitor will ensure that all information is accurate and reflect the property truthfully.
Exchange and completion
Once the buyer and the seller are happy with the contents of the contract as drafted by conveyancing solicitors in Portsmouth, they will get their clients to sign off their copy. The conveyancing solicitors will ensure that both parties have an identical contract in their hands, because once the date of completion is agreed and the signatures are on the contracts, then the exchange is legally binding.
At this stage, the buyer will receive the title of the property from the seller via their conveyancing solicitors. This document transfers the property officially to the buyer. On completion, the title deeds will be transferred to the buyer and the seller’s solicitor will receive the balance from the sales price.
Buying a property involves many complex steps, including technicalities that cannot be appreciated by people who are not aware of the law.