What is promotion?

Conveyance is the legal work involved in transferring ownership of real estate or land and is usually performed by a solicitor or a licensed conveyancer.

While a property inspection will reveal potential structural problems, it will not uncover problems that may affect the property and the land on which it is built. For these reasons, a professional conveyance attorney or licensed conveyance attorney is required.

Matters such as leasehold agreements, usage restrictions, access to services such as water and electricity, right of way, and ground rents can affect the home, its purchase or sale, and your ability to successfully complete the transaction.

Your conveyancing attorney will take responsibility for checking these to ensure you are aware of any issues affecting the property before committing to buy or sell. Your solicitor will also prepare the necessary paperwork for the transfer of title to a property from one party to another.

Typical conveyor tasks include:

Reviewing legal title documentation (e.g. contract and land registry information) and collecting requests for clarification of information contained in the contract package

Conducting research with various authorities to determine whether there are flood risks, financial liabilities, boundary disputes, prospective development.

Providing the customer buyer with a detailed report of the legal title, contract and supporting documents provided by the seller

File a tax return and pay the required Stamp Duty Land Tax to HM Revenue & Customs.

Creation of draft contracts detailing what is included in the transaction, such as: B. Facilities, Equipment and Content

Forward documents about the transfer of ownership to the land registry.

Advice on ancillary expenses such as stamp duty, rent termination fees, land registry fees and other mandatory expenses

Request payment of the mortgage advance from your lender.

Contacting mortgage lenders to ensure funds are made available when needed

Preparation of the transfer documents required for the purchase or sale of a house

Carrying out all final checks before the contract exchange, after which neither party can withdraw without serious costs

Exchange contracts, move one step closer to completion date

Contact the seller’s attorney for a contract package

Application for registration of the transfer at the land registry

Request and receive a copy of your mortgage offer.

Arranging the payment of all associated fees.

You should appoint an attorney/broker as soon as you are considering selling or buying a property – even before you have made an offer (or someone has made you an offer) for a house – as this can help speed up the process, by getting him on board early.

If you are buying a home, you can expect the contract exchange to take place within 6-8 weeks of receiving the contract package. However, be aware that if you are in a long chain of transactions, delays throughout the chain will affect your own completion. Each house is individual and the placement process reflects this.

How much will it cost?

The cost of conveyancing will depend on the value of the property you are buying – although buying a £2.5million house doesn’t necessarily involve more legal work than a £150,000 flat.

However, the transfer of ownership required for the average UK property purchase generally costs between £800 and £1000.

This amount includes the charges for the carrier’s time, calls and letters, as well as the fees for community research and registration with the land registry.

You may be able to save money by opting for an online carrier, with some charging as little as £500.

DIY promotion is possible. However, it is a complicated and time-consuming business that can end badly.