Understanding the process of Residential conveyancing

Buying a new house is one of the most important decisions you can make in your life. It is also one of the most costly. Buying a home or any other property that involves such a huge sum of money, there are some things that can go wrong, especially legal issues. Therefore, it is important that you have sufficient information on the processes involved. Although you can hire a professional to do it on your behalf, most of the processes will require your approvals and signatures, ad therefore, you need to know what to approve and what not to.
When you are purchasing or selling a house, you will have to undergo through a process refereed to as residential conveyancing. Residential conveyancing is the legal transfer of acquired property from the seller to the buyer. The process involves signing of numerous documents and doing searches to verify the legitimacy of the property to the seller, and any laws that may affect the property.

Conveyancing regulations and contracts
Some of the common processes include making requisitions on title, vendor’s certificates, transfer of land and performing local authority search to see if your property is affected by plans as set by local statutory bodies. Local statutory organs may limit some property from further extensions, mortgage, rebuilding among other things. Therefore, it is important to understand how such policies and acts may affect your new house to avoid conflicting with the laws.

During the conveyancing, it is also important to know of any environmental aspects that could affect your house. This is normally done by doing a survey. Although the process can be done by an independent environmental surveyor, you can as well obtain information regarding the conditions of that location and whether it is in any way susceptible to natural hazards such as volcanic eruption, flood, and landslides, among others.

Contract of sale
One of the most important documents you will have to sign is contract of sale. The document stipulates the terms and conditions of the property sale among other things like the selling price, the deposit, fittings and fixtures that are part of the property and any special conditions, among others. Although different solicitors will have different approaches, you should ensure that all documents are processes are done according to the laws. Otherwise, you may find yourself in trouble even years after purchasing the property.