Essential Tips for Choosing a Conveyancing Solicitor

Buying a new home ranks high among the most significant purchases you can make in your life. Considering the amount of money you will be investing, you must find a licensed and qualified conveyancing solicitor. An expert will help you to navigate the complex conveyancing process, thereby giving you value for money. Unfortunately, engaging a professional is something most people overlook only to end up losing a significant amount of money. This article highlights fundamental tips for selecting a conveyancing solicitor.

Find a Solicitor in Mortgage Lender Panel

If you want to buy a house, the chances are that you are using a mortgage lender as a financier. Therefore, it is crucial to understand that some mortgage lenders only work with certain conveyancing firms. It is a cost-effective approach because a financier handles all the legal work. You can still work with a conveyancing solicitor who is not on your mortgage lender's panel. However, the approach tends to accrue legal costs fast because the legal fees you pay to a mortgage lender are separate from what you pay a solicitor. Therefore, choose a solicitor who is on your mortgage lender's panel to keep conveyancing costs as low as possible.

No Hidden Costs Assurances

Hidden costs can be a bummer to a conveyancing process. Due to the significant amount of money you will be spending, you need a clear budget to adopt. Any surprises in terms of hidden charges later on in a conveyancing process might set you back or even delay a conveyancing process. Ideally, a professional and reputable conveyancing solicitor should give assurance that there will be no hidden fees. This is only possible if a solicitor outlines all the fees you should pay before and during a conveyancing process. The assurance will protect you if a solicitor comes up with charges that both of you didn't plan for at the start of a conveyancing procedure.

No Sale, No Fee Option

The fact that you have identified a conveyancing solicitor, a real estate agent and a property seller does not guarantee a successful purchase. Notably, property sales have fallen through for a variety of reasons, and you should be open to such an eventuality. What happens if a sale falls through? Will you still pay the agreed legal fee, or does an agreement have a 'no sale, no fee' option? The best approach is to hire a solicitor who includes a 'no sale, no fee' clause in the agreement to protect you financially.

Contact a local solicitor for more information.