In the technological world we are living in today, almost anything can be done online, and conveyancing is no exception.
Conveyancing is the legal term for the process of transferring ownership of a property between two parties. A conveyance is legal document known as a deed that conveys a property from the seller (or vendor) to the buyer.
Property conveyancing is usually carried out by a solicitor, a licensed conveyancer, or, in Scotland, a solicitor’s agent. It is possible to carry out your own conveyancing, but for most people this is not advised. Some estate agents offer in-house conveyancing services, although it is usually wiser to engage an independent solicitor in order to avoid any conflict of interest.
Finding the right conveyancer can be laborious and time consuming and therefore online conveyancing can be a quicker, easier and often cheaper option. There are many benefits to using an online service. Geographical location of the conveyancer is irrelevant as everything is done online eliminating the need to meet at the conveyancer’s office and saving you time.
Many online conveyancers operate a “No move, no fee” policy, ensuring that the user is not liable for any cost other than those occurred on your behalf.
There are 3 types of online conveyancing services:
1) Conveyancing factories. These are usually low cost, large volume solutions. Due to the mass conveyancing approach taken, call centres are often used and communications may suffer.
2) Specialist firms. These are usually more expensive but offer an excellent level of service.
3) Conveyancing brokers. These are similar to insurance brokers as they have access to many services and companies. Once the customer has provided their details, the most appropriate conveyancer will be determined.
It is important to ensure that the online service you choose is regulated by the Law Society and is covered by indemnity insurance.
The online conveyancing process begins with the customer seeking an online quote and deciding to instruct the conveyancer to proceed. The conveyancer will then write to confirm the instructions and send a “welcome pack” which outlines the whole process. The customer is allocated a member of the conveyancing team and given contact details, both telephone number and email. Very often, an online conveyancer will be available to deal with any queries at weekends and evenings, unlike traditional office based services. Most online conveyancing services will provide you with password protected instant updates, by email or SMS, allowing you to keep track of the progress of your case 24 hours a day, seven days a week.
The conveyancing process should involve the following:
1) Verifying ownership of the property and ensuring that a good title is obtained. Title refers to a bundle of rights in a property and is distinct from possession, which can accompany ownership but is not necessarily enough to prove it.
2) Carrying out local authority searches.
3) Ensuring that the land has been registered and checking the existence of any restrictive covenants. Restrictive covenants refer to the restriction of anything from the height or size of building, to the materials used in construction.
4) Ensuring that any planned alterations has necessary planning permission, building licenses, and that they have a warranty.
5) Checking that any debts against the property are cleared before contract exchange.
6) In leasehold properties, the lease and its clauses are checked.
7) Drawing up a contract of sale.
8) Registering the title in the name of the new owner after the property is sold.
All of the above steps are done online which cuts down on overheads and therefore offers a cheaper conveyancing solution.