The following is a general guide to our conveyancing process when selling your property. Hopefully our open and honest approach will help you to anticipate any pitfalls before they arise. However, if you are still unsure about any aspect of the conveyancing process when selling your residential or commercial property then our expert solicitors will be only too happy to clear it up for you.
Once you have chosen and informed the solicitors you would like to commence the conveyancing process when selling your property, you will soon receive a ‘Letter of Engagement’ or ‘Confirmation of Terms of Business. This should be signed and returned promptly so the work can begin. In some circumstances the solicitor may request funds to cover initial expenditure.
Once your solicitor has been officially instructed to start the conveyancing process they will, if necessary, obtain the title deeds from your lender. More...
This article is taken from the Western Mail New Homes supplement:
Galliard Homes has written off more than £4m from the existing price list at its luxury development Hayes Point, at Hayes Road in Sully.
This superb gated development set in some 45 acres and with the majority of apartments enjoying stunning sea views will be offered for sale at vastly reduced prices on July 9 and 10.
Galliard Homes is intent on disposing of all remaining stock at Hayes Point on this weekend and to prove its intent a two-bedroom two bathroom apartment offering more than 1,000 square feet of living space is on offer at the phenomenal price of £129,995.
Hayes Point has been designed to provide the ultimate living environment for those that seek a truly unique lifestyle.
The development has something special for first time buyers to seniors alike – whether it is rural seclusion, privacy and security, recreation and fitness, or a combination of them all, amid a glorious stretch of private coastline boasting spectacular views from dawn to dusk.
The lifestyle that could be yours will include an indoor swimming pool, gymnasium, tennis courts and beautifully landscaped gardens.
This is surely an opportunity not to be missed. Galliard Homes is well known throughout the industry for delivering good quality at sensible prices in great locations.
Hayes Point will prove to be a truly unique opportunity to acquire a superb apartment at a phenomenal price in view of the massive reductions on offer.
Howells Solicitors have been appointed as the preferred solicitor to act for potential purchasers on the development, due to our experience with conditional exchanges at previous launches for other national property developers.
If you are interested in an apartment at Hayes Point then call Howells' conveyancing solicitors in Cardiff on 02920 404020.
The property market’s been in the doldrums for a while, but reports of its demise have been greatly exaggerated.
Figures out this week have shown that the number of mortgages approved for house purchase rose to an eight-month high during March, and there’s evidence of these green shoots in Wales, too.
According to the British Bankers’ Association, activity in the property market showed signs of picking up, with a total of 31,660 loans approved for people buying a new home, 5% more than during the previous month and the highest level since July last year.
Tristan Lewis of Howells Solicitors says that business from their offices in Cardiff, Swansea and Newport corroborates the latest findings. “We have seen a substantial increase in instructions over the last eight weeks which is a trend which appears to be continuing as we progress further into the spring.
“The number of instructions we received for sales and purchases in March was 30% higher than our usual monthly figures. We believe from speaking to clients and agents that people are at last becoming more realistic about selling prices in order to get the market moving,” he reveals.
As a mortgage lender, Principality have also seen an upsurge in activity, as explained by Principality’s Product Manager, Paul Straiton. “The pattern is similar at Principality, with both house purchase completions and total mortgage completions increasing slightly during March,” he says. But he does warn that the market’s not out of the woods. “The overall position remains down on levels reported this time last year, pointing to the fact that activity in the housing market remains at levels that are subdued relative to previous periods,” he says.
Buyer confidence is still being cited as a possible impediment in the improvement of the market, Paul believes. “The market still has a long way to go and with increased pressures on banks and building societies to hold more capital, the availability of mortgage finance will remain restricted.
“Concerns about the economic outlook and the ability to raise a deposit may deter potential buyers. Remortgage activity on the other hand is likely to continue to increase this year as borrowers look for fixed rate deals to combat any potential rate rise,” he adds.
The commercial conveyancing team at Howells Solicitors has helped Liberty Marketing, a Cardiff based online marketing agency, purchase commercial premises.
The 2000 sq ft office building formerly belonged to Costain plc and is a part of Cardiff Business Park in Llanishen, North Cardiff.
The premises, bought as an investment by Liberty’s managing director, Gareth Morgan, allows the business to continue its expansion and sees the business move out of the more expensive serviced offices where the company has been for the past 18 months.
Rhidian Hobbs, Partner and commercial property Solicitor at Howells, said "we were only too pleased to act on behalf of Liberty Marketing with the purchase of their first commercial premises and to help them achieve this significant milestone. We guided the client through not only the legal but also some of the practical issues surrounding leasehold commercial premises".
Gareth Morgan commented "Due to the location and the way the property was being purchased, the transaction was not straight forward. Rhidian and the team were very helpful and professional at all times and I couldn't have done it without their help. I am very pleased with how it worked out".
Spring may have come early this year – at least as far as the property market is concerned. The property portal, Zoopla, has seen inquiries rise to more than three times the number at the beginning of last year.
During the first four days of January, there were more than a million property searches on the site across the United Kingdom, more than double last year’s early tally.
March, traditionally one of the most important times of the year for house hunters and vendors, might have been supplanted if the initial surge of inquiries during recent weeks is anything to go by.
There are several theories as to why we are seeing an upturn in activity so early in 2011. One is that the autumn market, which used to be almost as important as the spring, has been squeezed by long summer holidays and the pre-Christmas run-up.
People have had time over Christmas and the New Year to prepare their houses for sale or to organise finance and draw up a shortlist of dream homes.
It has also been suggested that householders might be rushing to get their properties to market, under the looming spectre of the threatened double dip recession, which would see the British economy plunged back into chaos.
Howells Solicitors, with offices in Cardiff, Swansea, Caerphilly, Talbot Green and Newport, say they have seen an increase in market movement, regardless of the reason.
“Even though the property market is still subdued, by January 14 this year we had completed on two separate £1m transactions,” commented business development manager, Tristan Lewis.
“On one of these residential transactions we acted for the seller of a small holding on the outskirts of Cardiff. The other completion occurred where a local businessman and his family had purchased a property in a popular Cardiff suburb.
“We have also received a further instruction on a £1m property this week, which we expect to complete shortly.
“We are still some way off the levels of instructions we were receiving pre-August 2007, however we have had about a 25% increase in the levels of instructions we have received so far in January, corresponding with the numbers for the same period in January 2010.
“This is very encouraging and we hope this will continue to increase as we head towards the spring and the warmer weather.”
Kelvin Francis, RICS Wales spokesperson and director of Kelvin Francis Chartered Surveyors, agrees there has been an early surge this year – but is somewhat more reserved.
“There has been a rapid upturn in the level of inquiries and people are optimistic and upbeat about the market. But it is still early days as it is yet to be converted into an increase in sales,” he said.
“We have also been pleasantly surprised by the number of first time buyers expressing an interest in buying a home, which we were not expecting given the current difficulties obtaining a mortgage.
“People put their plans on hold over Christmas so we would normally expect an upturn in the New Year as they start to look ahead to the future.
“The signs are good but we are waiting to see if the high levels of inquiries will turn into the decisions which will generate sales. We are certainly hoping for lots more activity in the next couple of weeks.”
The above is taken from Welsh Homes magazine, part of the Western Mail on the 29th January. If you are considering buying a residential property then contact Howells Solicitors today. Our expert residential conveyancing team will ensure the entire process runs as smoothly as possible.
