Last Updated: June 27th, 2023
Instructing a conveyancing solicitor at the right time is crucial to ensure a smooth and efficient property transaction. Many home buyers and sellers are unsure when they should engage a conveyancing solicitor, but doing so too late can result in delays and added stress.
In today’s blog post, we will guide you on when to instruct a conveyancing solicitor and provide tips for a seamless property transaction.
Instruct a conveyancing solicitor before putting your property on the market When you’re planning to sell your property, it’s advisable to instruct a conveyancing solicitor before you put it on the market. This way, they can prepare the necessary paperwork, such as the draft contract and property information forms, in advance. Having these documents ready when a buyer is found will help speed up the transaction and reduce the risk of delays.
Instruct a conveyancing solicitor once you’ve found a property you’re interested in As a buyer, you should instruct a conveyancing solicitor once you’ve found a property you’re interested in and are considering making an offer. This allows the solicitor to begin the necessary property searches and investigations promptly, helping to identify any potential issues early in the process.
Once your offer has been accepted by the seller, it’s crucial to have your conveyancing solicitor in place. They will liaise with the seller’s solicitor, review the draft contract, and begin the conveyancing process in earnest.
Failing to instruct a solicitor early enough in the property transaction process can lead to several issues for both buyers and sellers. Here are some potential problems that may arise:
It takes time for a solicitor to gather and prepare the necessary documents, conduct searches, and address any issues that may arise. Delays can cause frustration and may even jeopardize the transaction if other parties involved become impatient and consider alternative options.
If a solicitor is instructed too late, they may have limited time to prepare the required legal documents. This can lead to incomplete or inaccurate documentation, which can create complications and further delays in the transaction.
One of the primary roles of a conveyancing solicitor is to identify potential issues and risks associated with a property. Instructing a solicitor late in the process can limit their ability to thoroughly investigate the property, potentially leading to missed issues that could have been addressed earlier.
Instructing a solicitor early can help expedite the transaction process, reducing the risk of gazumping (when a seller accepts a higher offer from another buyer after accepting an initial offer) or gazundering (when a buyer lowers their offer just before the exchange of contracts). Both situations can cause stress and financial loss for the parties involved.
If the conveyancing process takes too long due to the late instruction of a solicitor, the seller may risk losing an interested buyer, or the buyer may lose the property to another party who can move more quickly.
Instructing a solicitor early ensures that they can coordinate effectively with other professionals involved in the transaction, such as estate agents, mortgage brokers, and surveyors. Late instruction can lead to communication challenges and delays in various stages of the transaction process.
Instructing a conveyancing solicitor at the right time is essential for a smooth property transaction. They will help you overcome any challenge that may arise in your residential property endeavour. For sellers, this means engaging a solicitor before putting your property on the market, while for buyers, it’s important to have a solicitor in place once you’ve found a property you’re interested in.
By choosing a reputable and experienced conveyancing solicitor and following our tips, you can help ensure a seamless and stress-free property transaction.
With 5 partners and over 90 staff, based in our Stockport offices, Gorvins Residential specialist legal teams work with private individuals and companies from all walks of life buying, selling, transferring or re-mortgaging their properties.
Through a very stressful process buying a first home, Gorvins were confident and collected. Able to deliver what they promised and kept me updated through the stages. I was glad to have No Stress experience with our conveyancer in amongst the chaos of the rest of it.
Used as recommended by my mortgage advisor for a remortgage. My case was dealt with by Natasha Sands and she made it complete smoothly and to my satisfaction. Communication was great and all my questions answered promptly. Will not hesitate to use again next time.
Fantastic service and for a fair price, special thanks to Joseph Hirst who dealt with my account from start to finish and was always on hand to deal with any queries I had, always got back to me in good time and made the whole process as stress free as possible.
Go with Gorvins, if you want peace of mind!
I recently instructed Gorvins to act on my behalf in the purchase of 5 apartments in Liverpool. I am happy to report that I was more than pleased with their performance.The services provided by the person in charge of the file at Gorvins was most professional, reliable and efficient. In fact she went out of her way to help in aspects which was not her responsibility and as a result the deal went through smoothly.
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