The Importance of Your First Conveyancing Call or Meeting

The Importance of Your First Conveyancing Call or Meeting
Written by: Nagma Kazi Updated: In: Conveyancing

The initial conveyancing call or meeting with a client is one of the most important conversations a conveyancer will have with their client.  The main element of this call is to fact find, digging deeper into the transaction so that your client can walk away informed, knowing more than they did when they walked in.

This conversation sets the tone for what one would hope is the start to a strong relationship, supporting and guiding an individual through one of life’s most stressful periods. 

An Overview of What Should be Discussed in the Initial Conveyancing Call or Meeting:

A conveyancer solicitor should carry out ‘Know Your Client’ (KYC). This involves learning what the client does and discovering why they are selling property or buying. This process allows the conveyancer to build a comprehensive picture to better understand the client in order to start tailoring their advice and support.

How Much Are You Buying or Selling For?

It’s essential that the conveyancer knows how much their client is buying or selling a property for so that they can have the correct figures from the get-go.

The majority of buyers will be buying with the aid of a mortgage, with savings being used for a deposit.  It’s important for your conveyancer to ascertain how you have built up your savings and where the source of your funds has come from.  Sometimes there may be a gift involved. If this is the case, it will be necessary for your conveyancer to know how much that gift is and who is providing it. If you are obtaining a mortgage, is your lender aware of this gift?  There will be evidence of funds and ID documentation required from the person that is gifting you the money towards your purchase.

Other aspects that may also need to be considered when looking at funding is if a a Help to Buy ISA or Lifetime ISA account is being used.  Your conveyancer will have to check if you meet the criteria for the bonus available on these types of accounts and will explain how the bonus works and when it is paid.

Usually if the purchase of a property involves a mortgage, the application will be underway by the time you have your initial conveyancing call or meeting.  This is a good time to update your conveyancer with a status of where the application is currently at, and whether any surveys have been instructed by you.  Your conveyancer will be able to provide you with more information on the types of surveys available.

Becoming Familiar with the Conveyancing Process

It’s not every day that you purchase a property, however, it’s always worth familiarizing yourself with the process involved.

Once the initial conveyancing call or meeting has taken place, the subsequent steps in the process can be broken down into three distinct components, each progressing at its own pace.

1. Contract Pack and Enquiries:

Firstly, the next step involves compiling the necessary documentation, commonly referred to as the contract pack. This encompasses essential legal documents such as property title deeds, planning permissions, and any relevant certificates. Simultaneously, inquiries are started to gather additional information and clarification on any aspects that may require further scrutiny. This review ensures a comprehensive understanding of the property’s legal standing, helping identify potential issues early in the process.

2. Searches:

Secondly, comprehensive searches are carried out to gather information about the property and its surroundings. These searches may include inquiries into local authority records, environmental considerations, and land registry checks. The goal is to uncover any potential concerns or restrictions that could impact the property’s value or the buyer’s intended use.

3. Mortgage Processing (if applicable):

Finally, transactions involving mortgage financing will involve securing the necessary mortgage approvals. This phase includes the submission of required financial documentation, property valuations, and other assessments by the lending institution.

Position to Exchange Contracts

Once all three parts are satisfied and signed documents have been received you will be known as ‘being in a position to exchanging contracts’.  This would mean placing a deposit down, making the contract legally binding.  It is at this point that a completion date is agreed. This is the date you will receive the keys, becoming the legal owner of the property you are buying.

The Importance of Discussing Timescales

Lastly, being on the same page and managing expectations can somewhat be a juggling act for your conveyancer. That’s why it’s important to discuss your timescales with your conveyancer. It is important to have this discussion from the start so that your conveyancer can explain what timescales is are reasonable and how other third parties may play a part in influencing the length and time of a transaction.

Getting in Touch with our Conveyancing Solicitors

If you are considering buying or selling a property, please do not hesitate to call Cartwright King Solicitors on 0116 253 9222, or get a free quote today.

Legal Disclaimer.

All advice is correct at time of publication.