Buying or selling property is not as easy as the transaction sounds. As many people have experienced, the process can easily go south, leaving you wasted in terms of money and time. Many people use conveyancers or solicitors to ease the process of property transactions. A solicitor is often much more suitable because they can go the extra mile, taking up legal issues that arise from property transactions. With a solicitor backing you, the following all-too-common issues with property purchases can go your way.
Seller backing out
For many people, this problem is usually summed up with two words: tough luck. But did you know that once you have entered into a contract with the seller, them backing out should attract some fees from you? Better yet, solicitors can help you draft and understand such contracts and then go after the value of your time and commitment in the deal. A good solicitor can actually take such a seller to court and get you back some of what you lost in the process of committing to the deal that has somehow sourly ended. This is a double edged sword that solicitors can also employ when tackling clients backing out on the last minute of an agreement too.
Increase in cost
As a buyer, the worst thing to you is probably the seller increasing the cost of property after you have agreed on specific terms. This is especially difficult for people who buy property in chain. With the help of solicitors, you can bind the seller to your agreed upon terms irrespective of the transpiring events leading to the increase. This sometimes will require legal recourse, which many solicitors will willingly and effectively handle on your behalf.
It sometimes happens that a buyer with a better price comes along and snatches your property just after you thought you had sealed the deal. In such cases, you will definitely need the help of a solicitor to bind the seller to your contract considering that the property owner has all rights to accept whichever deal he or she chooses. But with good solicitors backing you, such a problem can be solved and you may end up with your deal at your originally agreed price.
Unfortunately, problems arising during the survey are not usually easily dealt with. The seller may not want to spend more money on the property while you, on the other hand, feel like the property costs too much considering the issues you would then need to resolve. In these instances, the backing of good solicitors will either help you get out of the deal or get your fair worth of the property with regards to the problems seen during the survey.