When purchasing a house, many buyers may choose to engage the services of a solicitor from the very beginning. A solicitor will handle the legalities, ensuring all documentation, title checks, and property searches are in order, as a means of safeguarding their client’s investment.
The timing of when to instruct a solicitor can affect the efficiency of the process, as multiple issues can derail purchasing a property at any stage. By law, a solicitor will always be required to complete a property purchase, but is their presence really necessary from the very start of the process?
What Is Conveyancing?
Conveyancing is the process of transferring property ownership from one party to another. There are many different steps, such as conducting searches to verify that the property has clear ownership, reviewing the terms of the sale, preparing legal documents, coordinating with other parties in the transaction, and finally, completing the sale and registering the property under its new ownership with the land registry.
Whilst some steps of conveyancing can be conducted without a representative, appointing a solicitor ensures that every step is meticulously managed, reducing the risk of any issues delaying the process. It also allows for proper communication between both the buyer and the seller, on all aspects of the sale, as their respective representatives handle all the details of the transaction, anticipating and managing any potential hurdles to completion.
When To Instruct A Solicitor
For many buyers, the ideal time to instruct a solicitor is often at the point of putting in an official offer or, at the time the seller accepts the buyer's offer. At this stage, the buyer's interest in the property is confirmed, and the solicitor for the buyer may begin with conveyancing to speed along the sale of the property.
Solicitors can start investigating a property at any time. A buyer who is interested in a property may ask a solicitor to conduct searches before making a formal approach, just to see what comes back. Selecting a solicitor before making an offer allows the buyer to act more quickly once the offer is accepted, streamlining the transaction process and reducing potential delays in completing the sale.
Appointing a solicitor ensures that preliminary tasks, such as obtaining appointments for property searches and reviewing initial documents, can begin immediately upon the offer’s acceptance. With the solicitor acting as the conveyancer, the buyer benefits from having the required legal expertise that can expedite necessary searches and document checks to ensure the purchase is completed properly.
For the seller, instructing a solicitor before listing the property can be beneficial for similar reasons, allowing them to pre-emptively resolve any legal issues with the property title and remove obstacles that may delay the sale.
The Benefits Of Instructing A Solicitor From The Begining
One of the primary benefits of instructing a solicitor from the beginning when buying a property is that it sets a clear path for due diligence. Conveyancers conduct local authority checks, environmental searches, and water authority searches, all of which can take time. Engaging a solicitor early ensures these processes are completed promptly, allowing the solicitor to review the initial terms of the sale and any contracts or agreements presented by the seller. Having this expertise in place before the transaction’s critical stages ensures any issues related to property boundaries, easements, or potential disputes that could impact the value or usability of the property, are seen and dealt with.
For instance, if there are restrictive covenants or unresolved planning permissions, these can be identified sooner and far more easily, enabling the buyer to negotiate or reconsider their position if they prove to be particularly challenging. At the exchange of contracts, it is necessary to have a solicitor ensure that all documentation is reviewed, signed, and safeguarded correctly, protecting both the buyer's deposit and the agreement terms.
Completion involves ensuring that funds are transferred securely, overseeing the payment of Stamp Duty (if applicable), and registering the buyer’s title with the Land Registry. Having a solicitor who has been involved from the start guarantees that all these steps are coordinated without unnecessary delays or legal oversights, protecting the buyer’s investment at every stage.
Potential Drawbacks Of Delaying A Solicitor’s Involvement
A common issue for buyers is delaying the engagement of a solicitor until later in the process. This can introduce several risks that may even prevent the sale of the property from going through at all. When a solicitor is appointed late, they may have to rush to meet contractual deadlines, potentially missing critical details or overlooking issues that could affect the property’s future status.
With deadlines being rushed, delayed solicitor involvement can lead to reduced negotiating power, as pressure to complete the sale may limit room for negotiation. For instance, if boundary disputes or structural issues arise late in the process, there may be limited time to negotiate price adjustments or ask the seller to make necessary repairs.
It is not unfathomable that should a sale become subject to increased delays, a seller could potentially pull out entirely. If the buyer has already paid a deposit in this case, they will most likely, be unable to recoup their losses even with the aid of a solicitor. It is important to have a solicitor’s guidance in place before any money changes hands, as a solicitor will be in the best position to recommend whether or not delays or other issues, could jeopardise the sale.
A proactive approach to conveyancing should include shortlisting potential solicitors well before placing an offer on a property. By doing so, buyers can consider different conveyancers’ experiences and fees without the pressure of imminent deadlines, but both buyers and sellers will always benefit from having a trusted solicitor ready to act on short notice.
Appointing a solicitor should be one of the first things a buyer must consider when purchasing a property. There is never a point too early to begin instructing a solicitor when it comes to buying a house, particularly for high-value transactions with considerable sums on the line. A solicitor is the best defence a buyer has against losing out on their purchase or, losing money at any point before and after the sale is completed.
