What actually does conveyancing mean?

It is simply a legal term for the transfer of the legal title of a piece of land from one person to another, or the creation of a new interest, such as a lease or mortgage, on a piece of land.

Can conveyancing be done through post, email and telephone?

Yes, of course. At G.A.Lott we always welcome our clients, but there is no reason why you need to visit if you don't want to. This means that we can carry out the instructions of clients for properties anywhere in England and Wales.

Any documents you need to sign can be done through the post and we can also carry out the necessary ID checks in the same way.

How long does conveyancing take?

There is no such thing as a standard conveyance, they are all slightly different. An average timescale is around 8 to 12 weeks. It will depend on the "length of the chain" and the type of property. If there is no chain that can be considerably quicker than this. We work to your preferred timescale.

Why is there an extra charge for leasehold properties?

In a nutshell it is because we have to liaise with the freeholder and scrutinise the lease in great detail to ensure that you have no nasty surprises. For example, there may be a clause in the lease stating that you can't attach a satellite dish to the property or keep pets. Such things would cause you considerable annoyance if you didn't know before you completed the purchase.

Why do you do so many searches?

Searches are required to protect you. If they were not done, it may be that some things would not come to light until after you had purchased the house. For example, has the extension on the back of the house got planning permission and was it signed off by building control? If not it may need to be demolished at your expense!

Are all the searches needed every time?

No. But if you are having a mortgage the lender will dictate which searches they require. Some searches depend on location for example if it is in an old pit village in Cornwall a mining survey would be necessary.

What do "exchange of contracts" and "completion" mean?

Exchange of contracts is an important stage in the process and happens when both parties to the deal have signed their copies of the contract and the conveyancers then swap copies (exchange). It is a very important stage as it is then that the contract becomes legally binding. For this reason it is crucial that we discuss the contents of the contract with you, which we will do. If anything is unclear, ask!

Completion is when the keys to the property are handed over and the legal title is registered in return for the agreed amount of money.

When do I need my deposit?

This is paid to the seller's conveyancer at exchange of contracts. If the sale falls through after this point the seller may be entitled to keep this as compensation, if it fails because of your fault.

How do I get my keys?

This will be arranged during the negotiation process, but is normally done through the estate agents.

How do I get my money from the sale of my property?

This is most often done by electronic transfer into your bank account, once all outstanding fees and mortgages have been dealt with.

Why can't I complete on a weekend?

Because on completion the money will be transferred electronically between the banks of the buyer and seller's conveyancers and at present this can only occur on a working day. So you can't complete on a bank holiday either.

When do I have to pay legal fees and estate agents?

These are deducted from the proceeds of a sale, following completion. If you are buying these would normally have been paid in advance of completion when you make the money available to buy the house.

If I'm buying when do I need to arrange buildings insurance?

Once "exchange of contracts" has taken place the seller is no longer under an obligation to keep the building insured, unless specifically agreed to in the contract. As a result you need to arrange insurance yourself against the building from that point.

What sort of survey should I do?

If you are buying with a mortgage a lender will insist on a valuation report. This is not a survey and you cannot rely upon it.

There are however there are two types of survey and the choice is yours.

The home buyers report looks for major structural defects which are clearly visible and the general condition of the property to allow a value to be placed on the property. A detailed survey is much more comprehensive and the surveyor will look much more for defects that may not be immediately apparent and reports these back to you.

We recommend that you do obtain a detailed survey if you were brave enough not to have a survey, you must remember the old saying "buyer beware" as you will be deemed to have known of any defects at the time of purchase.