Residential conveying means the legal process that is required to buy and sell a residential property. my conveyancing solicitors cardiff is important because it is very essential for one to follow the legal procedures to buy or sell a home. Since our homes are our hugest investment, we should make sure that all the procedures are rightly followed. To make this transaction of buying a home or selling a home can be made easy when we take the services of a solicitor who is good at conveyancing residential properties.
Most people are not aware of the process of buying and selling residential property. Instead of taking the risk factor on themselves. They ought to hire a solicitor who will help them in buying and selling the residential property. Adding to the mortgage lenders will pressure on using a legal solicitor for conveyancing a residential property when they give out a mortgage for the purchase of a property.
When the property which is residential is handed over to someone else, there is a process that has to be followed for that. This process includes three different stages. The first one is the agreement to sell, the second stage of the process is known as the exchange of contracts. The third and final stage of the process is known as the completion of the sale process.
The three-stage process gets triggered when the buyer and the seller make an agreement to sell the property and this three-stage process ends when the buyer receives the property’s keys from the seller.
Whatever, but the actual; process has different steps to be followed. This three-step process is the same across all buying and selling. This buying and selling process ill differ depending upon the property that you are willing to sell. If it is a residential property then it will have different processes and when it is residential; property it is a different process that needs to be gone through to buy or sell the property.
Agreement to Sell
The agreement to sell is the first step of the three-stage process. This is the point where the actual conveyancing begins to take place. At this stage, the buyer and seller might have some agreements and disagreements about the property and the pricing of it.
For example, the sellers will have to complete some agreements and give some property information in a form. This property information might include details about the boundaries of the properties, the amount of work that has been done on the properties, is there any loans that have been taken in the name of the property, the disputes with the neighbors or any other issue that has to do with the house. Also, the seller should provide information on the tool s and the fixing and fitting that has done in the house. They should also maintain the fixing and the work that has to be completed. If they are selling the property along with the things then it should also be mentioned. Everything about the furniture and kitchen appliances should also be mentioned. They should also provide details about the contract that has been taken on the home they are selling.