There are many reasons why appointing a conveyancer when buying or selling property is crucial.
Of course, the major benefit is that you need a conveyancer to complete the legal work around any property transaction. These specialists can also help explain the various terminology involved, to make it all a bit easier to understand.
One part of any property transaction which you will hear mentioned a lot is the completion date. But what leads up to this and who should you count on when it comes to setting it?
What Does Exchange And Completion Mean?
Exchange refers to the exchange of contracts between both parties. Once the contracts are signed and exchanged, both the buyer and seller are legally committed to the transaction. This exchange is done by the conveyancers each party have appointed.
Completion, on the other hand, refers to the date agreed by both parties when the change of ownership takes place. This is particularly exciting for buyers, as it is the date when they can move into their new home.
What Things Need To Be Done Before Your Date Of Completion?
When it comes to getting ready for completion, buyers are usually those with the most to do. A key step is ensuring that the money needed to complete the sale is available to your solicitor in advance. It can also be worth double-checking with your bank that the money is ready for completion to avoid any delays.
Buyers should also check that buildings insurance will be in place for the new property, as from the date of exchange. In addition, if you plan to use a removals company to help with the move, then you need to have them booked in advance. Many buyers will also contact utility companies pre-completion to ensure these services are set-up for when they move in.
But what about sellers? The major jobs are having everything in place to move out by the completion date (at the latest) and taking final meter readings on the old property before you do.
Why Should A Date Of Completion Come From The Conveyancer?
Many people will use an estate agent to buy or sell and may assume they are the best people to set a completion date. That’s not the case, however! You should always get a date of completion from your conveyancer. This is because they will be far more involved with the transaction and more able to set a realistic date when all of the legal requirements are in place. They will also be able to liaise with the other side to check that any date suggested works for all parties.
Conveyancing Experts In Cambridgeshire
The conveyancing process when buying a house or selling one is complex and in-depth. For these reasons, it is a necessity to appoint a professional, established firm to act for you. Bowsers Solicitors has been helping people move homes in and around Wisbech and March for a long time now. Get in touch via the contact form on our website to see how we can help make your move go smoothly.
Image Source: Pexels