The Conveyancing Process; Buying and Selling Residential Property – Leanne Jones and Kaylee Evans
Conveyancing Solicitors in North Wales.
Our team of expert Conveyancing Solicitors in North Wales have been facilitating the sales and purchases of residential property throughout the region for years.
By choosing Lanyon Bowdler for conveyancing services, you can rest assured that the process will be handled professionally, reliably, and with transparent pricing. We are committed to providing exceptional levels of client care and will work closely with you and the other parties involved to make matters move at the pace you need, but also to ensure your rights are protected at all times.
Completing a property sale or purchase in England or Wales does take time, but by working with Lanyon Bowdler you can be confident that no time is being wasted.
We believe in a collaborative approach, working with our clients, estate agents, mortgage brokers, and counterpart Solicitors to get the job done smoothly, efficiently, and in a timely manner whilst always maintaining a high standard of service and acting in our clients best interests.
Whether you are a first-time buyer or a seasoned investor, it always makes sense to have a skilled and dependable Residential Property Solicitor handling your transaction.
Call now for a friendly chat about how we can help support your property needs, whether you’re buying, selling, moving home, re-mortgaging, or considering equity release. Our Conveyancing Solicitors work to the highest standards and know the North Wales property market.
Our Conveyancing in North Wales Expertise
At Lanyon Bowdler, we have a wealth of knowledge around conveyancing. Contact us today and one of our approachable solicitors will be in touch.
If you are buying or selling a property in North Wales, appointing an experienced Conveyancing Solicitor to carry out the legal work on your behalf will not only ensure the deal is done within the shortest possible time-frame, but also give you the peace of mind that all the necessary checks have been carried out thoroughly and any concerns have been brought to your attention so you can make informed decisions.
Our Property Lawyers are experts in their field and members of the Law Society’s Conveyancing Quality Scheme and have many years’ experience helping home buyers and sellers in North and Mid Wales, covering all the legal aspects of residential property including:
- Conveyancing for freehold and leasehold property
- Shared ownership transactions
- Help to Buy schemes including Help to Buy and Lifetime ISA transactions
- Preparing for property auctions
- Conveyancing for buy to let properties
- Re-mortgaging
The Conveyancing Process for Buying a Property
You would usually appoint a Conveyancing Solicitor at the point where you’ve had an offer ‘subject to contract’ accepted, but it is perhaps better if you make contact prior to finding a property to get an idea of the costs involved as this may influence your buying decision. The process can then be explained in as many details as you feel you need. Once you have appointed a Conveyancing Solicitor to act on your behalf, the next step would be to inform the estate agent whom you have appointed.
The estate agent will then issue the buyer and seller’s solicitor with the relevant paperwork they require to open a file and get the ball rolling.
Each solicitor then opens a file on behalf of their respective client (buyer or Seller) and proceeds to carry out identity and financial checks. You would then be advised to arrange a survey. Once the contract and title papers have been received by your lawyer, they will put in hand local authority and other searches, review the title and report to you on the content and extent of the same. At this stage pre-contract enquiries on the papers would be dealt with and a mortgage offer reported on when received.
It is important to inspect the condition of the building itself in case there are any problems that could either be a safety risk or involve financial outlay either now or in the near future.
The basic survey would be an RICS Homebuyers report which, at the time of writing, costs between £450 and £1,000 (you should check current prices with your local provider). There is also the option for a more basic RICS Condition report or a more detailed full structural RICS Building Survey which is more suitable for larger, older homes, renovation projects, or properties in poor condition. The report will indicate if there are problems such as subsidence or damp, or if anything in the property does not meet current building regulations. The Homebuyers report can also provide information about how much the surveyor thinks the property is worth. Any lender will also carry out a valuation but you cannot rely on this and cannot sue if they fail to discover something which would have meant you did not want to proceed. Their valuation is purely for the lender in deciding whether to make you a loan.
In addition to checking the condition of the building itself, the legal status of the building must also be checked. Your Conveyancer will carry out detailed searches on your behalf.
A search of the Local Authority registers is carried out to answer questions such as:
- Are there any monetary charges on the property such as obligations to repay a grant?
- Does the building have all the proper planning permission and building regulation approvals for any work that was done to it?
- Is the road in front of the property made up and adopted?
A water and drainage search would also be carried out to check the status of these services and likely a desktop environment search to check if the property could be subject to contamination or flooding. More detailed searches can be carried out depending on the responses received.
We will share our findings with you and offer practical advice on any issues that have been found.
Changes may be made to the draft contract during the pre-contract stage of the conveyancing process based on the findings of the searches, surveys, and the replies to the standard information sellers are obliged to provide and in response to the pre-contract enquiries raised by your Conveyancing Solicitor. We will communicate and negotiate with the seller’s solicitor until all parties are happy.
When both parties are ready to commit to the transaction, contracts will be exchanged and a date for completion agreed upon. Your conveyancing lawyer will carry out Land Registry searches to make sure nothing has changed to the title since the papers were originally supplied and are also obliged to undertake a bankruptcy search against the names of the parties to the transaction. The transfer and mortgage deeds are signed, and mortgage money is requested from your lender in preparation for completion.
On completion day, the seller moves out, money and keys are exchanged and the transaction is then registered with the Land Registry. Any land taxes are sorted out at the completion stage.
The Conveyancing Process for Selling a Property
As the seller of a property, the process is usually more straightforward than it is for the buyer. The onus is on the buyer to understand every detail of what they are purchasing, whereas the seller must simply provide the information requested.
How much effort this takes depends largely on the age and condition of the property and the availability of the necessary paperwork.
To ensure your sale goes through smoothly, it pays to be prepared in advance.
- Is there anything in the title deed that could affect the buyer or in their obtaining a mortgage?
- Are any important documents missing?
- Has the EPC been arranged?
- Do you have the gas, electrical, and FENSA certificates?
- Do you have evidence of any planning permission and building regulation certificates?
- Is the property being sold for sufficient monies to repay any registered mortgages?
Some negotiations may need to be done over the terms of the contract, particularly if any issues were raised by the survey or searches, but we’ll advise you at every step of the way.
On completion, we will have to repay any outstanding balance of the mortgage and pay any other costs due.
The Residential Property Market in North Wales
The North Wales region is made up of six administrative principalities, each with its own unique range of things to offer in terms of property types, prices, and lifestyle.
Read on to find out more about the North Wales property market and an indication of average house prices. Up to date house prices can be found on Zoopla and Rightmove.
The largest towns in Conwy County are Conwy Llandudno, Llanrwst, Betws-y-Coed, Colwyn Bay, and Abergele.
Conwy is a beautiful enclave of North Wales with plenty of temptation on the market for all budgets. The average price paid for a detached property in Conwy over a 12-month period to October 2020 was £303,000, £171,000 for a semi-detached, and £181,000 for a terraced house. In the most sought after areas of Conwy, prices can exceed £1m.
Another popular seaside town in this area is Llandudno. A vibrant Victorian seaside resort with a long history, the iconic pier, and Great Orme Tramway have been joined by the Llandudno Snowsports centre and Adventure Parc Snowdonia on the list of exciting activities and adventures in the area.
Often referred to as the gateway to Snowdonia, Betws-y-Coed is a diverse area with lots to offer. Whether it is hiking, biking, zip-lining or something a little less exhilarating, Betws-y-Coed has the best of what North Wales has to offer.
Average house prices range from £160,000 to £270,000.
Home to the popular coastal towns of Rhyl and Prestatyn, and the scenic tourist destination of Llangollen with its active steam train and white water rafting, this area has a lot of variety on offer.
In the 12 month period, September 2019 to September 2020 the town of Ruthin had the highest average property price in Denbighshire, estimated at approximately £232,800.
The largest towns in Flintshire are Connah’s Quay, followed by Flint, Buckley, and Mold. The area has a long, rich history and there are lots of interesting things to see and do.
Places of particular interest include Wepre Park with its castle ruins and waterfalls and Ewloe Castle.
Average house prices in this area range from around £149,000 in Flint to around £216,000 in Mold.
Boasting the stunning natural beauty areas of the Snowdonia National Park and the Llyn Peninsula, alongside castles, museums, ancient quarries, and mines the county of Gwynedd has a wealth of wildlife, history, and culture.
A popular base for those visiting Snowdonia is Llanberis, from where you can catch the Snowdon Mountain Railway to the top of the highest mountain in Wales and England.
The largest towns in the county of Gwynedd are Bangor, Caernarfon, Porthmadog. Harlech, Barmouth, Pwllheli, and the much sought after and desirable village of Abersoch on the Llyn Peninsula
Porthmadog has a long maritime history connected to its early roots in slate exports and shipbuilding which is still evident today through the Porthmadog Harbour, the famous Ffestiniog Railway, which carried slate from the mines of Blaenau Ffestiniog by steam locomotive. It’s an area of outstanding beauty with the beautiful village of Portmeirion, and several notable beaches, and a golf course nearby.
At the upper end of the property market are towns like Aberdovery, Pwllheli, and Llanbedr with average house prices over a 12-month period to October 2020 in the £230,000 to £300,000 range.
Anglesey is an island off the North West coast of Wales, connected to the mainland by the Menai Bridge. The largest towns on the island of Anglesey are Holyhead and Llangefni.
Much like Porthmadog in Gwynedd, Amlwch has a long maritime history connected to its early roots in copper exports and shipbuilding which is still evident today through the Amlwch Harbour. It’s an area of outstanding beauty with several notable beaches and a golf course. The Anglesey coastline is home to beautiful villages, coves, and hidden gems.
There are numerous other locations on Anglesey with beautiful houses, stunning views, and easy access to walks, beaches, outdoor activities, shops, and restaurants including Beaumaris, Menai Bridge, Holyhead, Bodorgan, and Rhosneigr.
Just over half of the population in this county live either in Wrexham or the urban villages immediately surrounding it. It is the largest town in North Wales and is well connected to Chester, Liverpool, and Manchester less than an hour away.
The Wrexham property market offers good value for money in comparison to the neighbouring county of Cheshire with average house prices standing at around £180,000.
At the upper end of the market, houses on Village Walks and Hoseley Land in Marford top the £600,000 mark. Our Oswestry office is perhaps more appropriate for clients looking to buy or sell in this county.
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If you are considering the sale or purchase of a property in North or Mid Wales, you need a reliable Conveyancing Solicitor with thorough local knowledge to help make sure the transaction is brought to a timely conclusion and your legal rights are fully protected.
We are committed to providing exceptional levels of client care. We will make sure you understand all the costs clearly and communicate with you regularly throughout the proceedings.
We have offices in Conwy, Oswestry, Shrewsbury, Bromyard, Hereford, Ludlow and Telford, so are able to act for clients all over Shropshire, Herefordshire, Mid and North Wales and across the Midlands (including Wolverhampton & Birmingham). As a leading regional full-service law firm, we can represent you wherever you live in England or Wales.
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