Making Sense of Conveyancing Quotes
For first time buyers, the journey into homeownership is filled with challenges. Understanding conveyancing quotes is crucial. Duncan Horton, Shared Ownership Manager, and Bill Dhariwal, Solicitor and Director at Lawcomm Solicitors, share insights to help navigate the process.
What is Conveyancing and Why Does It Matter?
The legal process of property purchase, known as conveyancing, ensures first time buyers become registered owners. This section provides an overview of the conveyancing process and its significance in the home buying journey.
The Difference Between Quote and Estimate
Tailored Quotes vs. Approximations
Distinguish between a conveyancing quote and an estimate. Learn why tailored quotes, adhering to agreed costings, are crucial for first time buyers. Discover how estimates may be subject to change based on the complexity of the transaction.
Information Needed for a Conveyancing Quote
Essential Details for First Time Buyers
Explore the information first time buyers need to provide when requesting conveyancing quotes. From property details to type (freehold or leasehold), this section outlines the key details required. Check out examples of instant quote calculators on law firm websites.
Understanding Disbursements in Conveyancing Quotes
Beyond Solicitor’s Fees
Delve into disbursements, the additional expenses associated with the conveyancing process. This includes search fees, bank fees, anti-money laundering fees, and more. Gain insights into the breakdown of costs beyond the solicitor’s fees.
Tips for Comparing Conveyancing Quotes
Navigating the Quote Maze
Comparing conveyancing quotes can be challenging due to varying formats. Learn how to request and compare quotes from different solicitors. Consider factors beyond costs, including experience and recommendations, to make an informed decision.
The Advantage of a “No Move No Fee” Policy
Discover the benefits of a “No Move No Fee” policy, a significant advantage offered by some solicitors. Understand how this policy protects first time buyers from legal fees if the transaction doesn’t complete.
Validity and Expiry of Conveyancing Quotes
Timeframe for Acceptance
Most conveyancing quotes are valid for 30 days. This section explains the validity period and circumstances where an extension might be needed. Learn why a new quote may be necessary if property details change.
Expert Advice from Lawcomm Solicitors
Bill Dhariwal (Solicitor and Director) and Duncan Horton (Shared Ownership Manager) share their expertise. For a free conveyancing estimate, visit Lawcomm Solicitors, or contact them at 01489 864 100 or advice@lawcomm.co.uk.
Read the full magazine for comprehensive insights into first time home buying at First Time Buyer Magazine.
