5 Advantages of Hiring a Property Solicitor When Buying a House
A property solicitor helps with the transfer of property from one person to another. Property solicitors are certified and regulated by professional bodies. These organisations set standards of practice for the solicitors and also legally protect consumers from poor service. There are many advantages of hiring property solicitors. Here are some of them:
- Reduces Stress
Buying a house can be tedious. There are many legal aspects to consider, and taking advice from a random person or organisation will not guarantee you any form of protection. Solicitors are regulated and are required to give you proper legal advice. In case you make a poor decision based on wrong legal advice, you will still be protected. Handling the entire conveyance process alone is almost impossible since there are many lengthy and complex laws and regulations, and these are applied in many different ways.
- Financial Protection
As noted, a real estate lawyer is required by law to act in your best interests. Buying a house can be very expensive, and missing a few legal requirements can lead to significant losses. In case anything goes wrong, you will not lose any money since the solicitor will cover all losses that result from their advice.
- It Saves You Time
If you choose to handle the process yourself, you may have to spend a lot of time learning the legal aspects of buying a house. This is in addition to the extra hurdles of home inspection, releasing of contingencies, getting your loan, disclosures, and planning for your move. You also have to audit the file to make sure every disclosure is initiated and signed by the relevant parties. If you want to focus on your job and other affairs, you will have to leave the legal issues to a certified property solicitor.
- It Speeds up the Sale
The entire process of buying a house can take months. A good property solicitor knows the hurdles of buying a house since that is their field. They already know which documents to find and sign, meaning unnecessary delays will be avoided. The solicitor also knows when they should hire a third party to help them search for information and documents such as mortgage agreements. This way, the sale will progress faster.
- The Property Search
Looking at the house with an estate agent doesn’t give you all the information you need about the property. A solicitor will perform a complete property search and give you some useful recommendations. Here are some searches they will perform:
- Local authority search- The solicitor will find out whether there are any government plans to use the space you are about to buy.
- The title register and title plan at Land Registry. These documents will prove that the seller is the legal owner of the property.
- Environment search- This report is provided by Landmark or Groundsure. It will give you information about land contamination at or around the land you intend to buy. Also, you will be able to see detailed predictions on the weather and floods. Other environment-related factors will also be covered in this search, including radon gas hazards.
- Water authority search- If the public drains on your property will affect any extensions, you will be notified in this search.
There are other searches that will be recommended based on your exact location. For example, you may have to carry out a mining search if you are buying a house in Cornwall.
Property solicitors can significantly smoothen the home buying process. They will make sure nothing goes wrong in the transaction since they are legally required to give you proper advice. They also help you handle the teddious paperwork involved in buying houses. You can find a solicitor on the internet or through referrals. However, it is not always a good idea to go with your estate agent’s recommendation since you may have to pay extra money to cover the referral commission.