Property solicitor is the one who has specific knowledge about property laws and also broader knowledge of the law in general. Solicitors not only advise their clients on various aspects of the conveyance but also on potential issues that could be a stumbling block in the client’s way after buying/selling the property, such as tax implications. Once you’ve a satisfying offer and agreed on buying or selling a property, you need to have a solicitor to transfer the legal ownership of the property.
How to Choose the right Property Solicitor?
Any mistake in choosing the property solicitor could derail the entire process of property selling and buying. Moreover, it can waste your precious money and time.
So here are some tips for choosing the right solicitor
# Consider recommendation: This is the best way to find a solicitor if you haven’t hired one before. Your friends and family members might have been through property buying/selling process, so you can ask their experience. You can also check with your lender, mortgage broker. The estate agent is another option if you’re ready to spend some money while looking for recommendations.
# Fees: Solicitors consider their fees in diverse ways. Some may take a certain percentage of property price while some others may charge fixed rate or hourly rate. You should get at least three quotes before considering any property solicitor. Make sure the quote includes all costs such as searches, stamp duty, bank transfer, registration fee, VAT, etc.
# Service: Hire the one who can pay their full attention and use their experience to make sure the process is running smoothly and no important details are missed. Avoid hiring someone who is not having the required expertise or who is over-worked. Make sure that the solicitor provides you all the required information and explains the overall process in detail. If you do not understand any of the clauses clearly, make sure everything is explained in layman’s terms.
# Online conveyancing: This is one of the rapidly growing areas. Here you’ll communicate with your property solicitor only through email or phone. You can track the progress of your property transaction through online anytime you want. However, you may not be able to completely understand the quality of the service and you may not be communicating with the same person each time you call/email. Also, it is better to avoid hiring solicitor online if your property involves any complex legal issues.
# Knowledge of the area: Hiring a local property solicitor will save you a lot of time as they are aware of local property laws. Moreover, if you can visit your solicitor in person, it will save you time by avoiding legal papers going to and for by post.
Benefits of Property Solicitor
# Property contract: Agreement negotiation is a must for sellers and buyers of the property. Property solicitors help you make the property contract by complying with all the legal rules and regulations. Though real estate agents help you with the contracts, they are not authorized experts to identify loopholes in the agreement if any.
# Paperwork: Completing property paperwork is a complicated task. An experienced property solicitor makes sure that all the required legal papers are completed and submitted quickly, correctly, and efficiently.
# Government policies: A new property owner should thoroughly understand the business, tax implications, licensing, and more. A reliable solicitor helps you complete all these tasks without hassle. This will help you focus more on your business and property rather than worrying about policies.
So, do keep these things in mind when looking for a property solicitor.