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Conveyancing
- is the term used to describe the legal work undertaken on behalf on a
property purchaser, this work was formally only undertaken by solicitors.
The work is necessary to ensure that the property to be purchased has
proper legal title and that there should be no problems for the new owner
in the future. Another important aspect of conveyancing is to carry out all
the necessary land searches to seek out any problems such as mining
subsidence etc.
Until
fairly recently most property purchasers used their "family"
solicitors to undertake this work. The work would be carried at high costs
and may take some considerable time due to the often lack of urgency.
The
late eighties early nineties saw a rise in solicitor's firms specialising
in conveyancing work, at lower cost and at greatly increased efficiencies.
These firms began to advertise their services which began an overall
reduction in the cost of conveyancing costs.
It
is worth noting that any individual is at liberty to undertake their own
conveyancing work, the results of incomplete work on a property purchase
do not bear thinking about! That said many individuals have done so in the
past but present day conveyancing fees mean few do so any more.
Before
the advent of the Internet a number of solicitors across the UK set up
dedicated telephone based conveyancing services which again reduced the
cost of conveyancing even further. Then came the Internet.......
Today
there are any number of Internet based conveyancing firms. Their charges
are now unbelievably low, their levels of service continue to rise and
are a real threat to existing high cost, high street solicitor practices.
Many have the facility of the client accessing their "file" at
any time night or day. Some send e-mail alerts at important points of the
conveyancing process, resulting in their clients being fully aware of all
matters. No longer do we need to fret waiting for calls back etc.
These reductions in cost and vastly increased
efficiencies can only aid the property buying process. No doubt property
buying and selling can only become better by using these on-line
conveyancing services.
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