‘Conveyancing‘ is the term used in the UK to describe the process of transferring title deeds for real estate from the seller to the buyer. The process starts as soon as the seller accepts an offer from the buyer. If you are wise, you will engage the services of a solicitor (lawyer) or licensed conveyancer to handle the process for you. Technically, you could do your own conveyancing, but this is not recommended.

The process

There are three principal stages in purchasing real estate in the UK. These are:
• verbal agreement between buyer and seller
• exchange of contracts
• completion

The initial agreement between buyer and seller is not legally binding, and either party can pull out of the agreement without penalty. For example, if you come across a property in Southport, Lancashire from EntwistleGreen.co.uk, you could place an offer immediately, even without viewing the property.

When contracts are exchanged, there is now a binding agreement, and a completion date will be set. The buyer will usually be required to pay a deposit of 10% of the purchase price, which will be held by the seller’s conveyancer. If the buyer pulls out, he or she will normally lose that deposit. If the seller pulls out, his or her conveyancer will return the deposit to the buyer, but the seller is not liable for any other penalty.

What your conveyancer will do

The conveyancer will request the contract documents from the seller’s conveyancer. The contract documents contain details of the property to be sold. These will include the agreed price, and what fixtures and fittings are included in the sale. Fixtures and fittings cover things like carpets and kitchen units. Fixed items like these are almost always included in real estate sales in the UK.

Your conveyancer will additionally carry out a number of legal searches related to the transaction. The first of these will be to ensure that the seller is actually the legal owner of the property and is entitled to sell it. Your conveyancer will check with the local authorities to see if there are any development plans that could impact on your proposed purchase in the future. The conveyancer will check that all property taxes are up to date. If not, the contract will be amended to ensure that the seller pays all outstanding debts, usually from the proceeds of the sale on completion date.

If the searches reveal any potential problems, such as plans to build a main road nearby, flooding issues, or problems with subsidence due to former mining activities, your conveyancer will inform you so that you have the option to withdraw before contracts are exchanged. Assuming you are happy to go ahead, contracts will be exchanged and your conveyancer will register your legal interest in the property.

Mortgages

If you need to get a mortgage to help you make the purchase, the mortgage company will insist that you use a licensed conveyancer or a solicitor to act on your behalf. You should ensure you have mortgage approval on your chosen property before you exchange contracts. Your mortgage company will insist on a property valuation before offering a loan. You will normally have to pay for this.

The mortgage company will send an independent valuer to view the property you want to buy. He or she will put a valuation on the property. If that valuation is significantly lower than what you have agreed to pay, your loan application will be declined. While this can be frustrating, it actually protects you from paying too much for your chosen property.

Your mortgage approval will be subject to some conditions. One of these is that you must take out buildings insurance so that you are covered from the moment the property transfers to your name.

Completion

Your conveyancer will send you an itemized breakdown of all the monies needed to complete, and you must ensure that those funds are in the conveyancer’s account before the completion date. The mortgage company will release funds directly to the conveyancer. Once the seller’s conveyancer has received the funds, the property is yours and you are handed the keys.

Conclusion

While the process is somewhat complicated, licensed conveyancers do this type of work all the time, so you can take a back seat for most of the process. Your conveyancer will handle negotiations with the seller’s conveyancer. He or she will forward documents that you need to sign, and, apart from ensuring that you will have the necessary finances in place to complete, that is really all you have to do.

Evie Gardiner has worked closely with property developers as a conveyancer. She enjoys sharing her industry insights online and her articles mainly appear on personal finance and property blogs.

The British industrial revolution was powered by mill towns like Bolton. Industrial heritage is all around you in the town, which boasts plenty of surviving mills, as well as grandiose Victorian public buildings, demonstrating the town’s great wealth in its heyday.

The mills closed long ago, but Bolton today is an optimistic town, proud of its heritage and hopeful for the future. It’s also famously friendly, actually voted the friendliest place in England by the British Association for the Advancement of Science.
So the town has charm and great historical importance, but what is there for the modern family wanting a great day out?

Beautiful Countryside

It wasn’t an accident that the industrial revolution kicked off in the midst of the lovely moorland scenery around Bolton. It was the streams gushing down from the high ground of the moors that powered the cotton mills behind the revolution.

The West Pennine moors provide 90 square miles of wild countryside, full of recreational possibilities for a great day out enjoying the fresh air and beautiful scenery. You could go for a day out, just walking or biking and stopping off in some of the pretty moorland villages.

A nice place to start might be the village of Belmont, about five miles out of Bolton, where you can see a historic mill which is still operational, as well as some small modern enterprises that are bringing new economic life to the village. There’s a pleasant walking route round the Belmont reservoir, an attractive church and a couple of famous pubs to visit.

Although the moors are elevated, the inclines on many routes are fairly gentle for ramblers and cyclists alike. Local Bolton real estate agents like Bridgesfords.co.uk are seeing increased interest in the area from people that want to change the pace of their life and enjoy the activities, making it a positive lifestyle choice.

Action-packed Entertainment

If you’re looking for a something bit more exciting but still fun for all the family, except the very young and very old, you could do worse than trying out Air-Vault, a trampoline centre that anyone with a reasonable level of fitness can enjoy.

Air-Vault features a course of 90 interconnected trampolines for you to navigate in whatever style suits your ability and takes your fancy. The other bouncers will all be too busy enjoying themselves to see your clumsy first attempts to get off the ground. But it’s not hard to get the hang of it and lose your inhibitions, and you’ll be bouncing away like a pro before long.
Trampoline is great aerobic exercise and it definitely burns the calories. Above all, it’s great fun.

Animal Farm

If you have a family of young animal-lovers, you can take them for a happy day out to an appealing children’s farm a few miles north of Bolton. Smithills Farm lets kids get close to all sorts of animals, from the expected farmyard familiars and pets to exotic Burmese pythons.

It’s run by a family with a long history of dairy farming on the land who diversified the business to create an experience that’s perfect for animal-loving kids.

As well as the animals, Smithills farm has tractor tours, a bouncy castle, an adventure playground, donkey rides and a café with a very child-friendly menu.

Historic Hall

On an educational note, Hall-i-th-wood is a rare and beautiful Tudor wood framed house, built in early 16th century, and now a museum. The hall was once the home of a rich merchant, before being split up and rented out to various families. One such tenant was Samuel Compton who was living there in 1779 when he invented the ‘spinning donkey’, a machine that revolutionised the cotton industry.

Mr. Compton was an inventor and craftsman rather than a businessman and he didn’t profit much from the machine that made so many fortunes for other people. He was persuaded not to apply for a patent, with the result that his machine was copied and used without any payment to him. He struggled to feed his family and died in poverty, though somewhat helped by voluntary donations. Compton was recognised after his death and his statue was erected in the town.

Hall-i-th-wood, where he worked on the donkey, was bought in 1899 by Lord Leverhulme, the self-made man who founded the Lever Brothers soap empire. It was turned into a museum in honour of Compton. Today, the rooms are laid out to convey a feeling of domestic life down the ages and there are helpful volunteers, happy to answer questions. You may be able to see the attic where Compton hid his invention from prying eyes. Entrance is free!

Bolton is a friendly northern city, close to natural beauty, but full of life of its own. It has well-regarded theatres, hosts a renowned food and drink festival, and overall, it’s hard to see the attraction of expensive southern cities in comparison to the down-to-earth appeal of a town like Bolton.

Imogen Lane is a single parent with 3 daughters aged 12 and under. She enjoys writing about family matters once the girls are asleep, using this time as her wind-down Mommy time!