Want to make your closing as easy as possible? Let a Realtor with a dedicated and knowledgeable team handle the conveyancing and transaction management of your home!
There’s more involved than you may think and, trust us, you don’t want to have to take it all on yourself.
Conveyancing is the specific branch of law that deals with the legal transfer of ownership of a house from one person to another. The best and safest way to handle this is by using a conveyancer and in some states a lawyer, who specializing in the legal aspects of buying and selling property. They will be able to make sure all the paperwork is handled both promptly and properly. An experienced conveyancer can make the admittedly daunting process simpler, with less stress for you in the long run.
The actual process can take anywhere from ten to twenty-four weeks for a purchase. This is a rough time-frame, as it can be shorter or longer dependent upon how smoothly the process goes. A non-exhaustive list of purchasing scenarios where the transaction could be stalled include: the place being bought is a probate property, delays from the buyer or seller, or the property is a leasehold.
In Pennsylvania specifically, some of the things that need to be handled as a seller in order to complete the sale (and could be handled or assisted by a conveyancer) are:
Obtaining pay-off statements for mortgage(s), judgement(s), lien(s), etc. involving the property. These have to be ordered specifically from each bank/lender, which usually means you have to read through and adhere to each one’s specific process in order to obtain the pay-off document.
Obtaining water, trash, sewer and tax certifications from the municipality or township. Some permit bundling, but others will have to be ordered on their own. In addition, some areas require related inspections to be completed before you can obtain some of these certs (generally the sewer).
Obtaining & reviewing a title search to ensure there’s nothing outstanding on the property before the transfer.
Obtaining a U&O (use & occupancy) certification - some are just safety standards while others require a more in-depth inspection by a township/municipality approved inspector. If the inspector requires any repairs before the certification can be issued.
Obtaining HOA Docs - for those who live under a Home Owners Association or related entity. There are specific documentations that you as the seller will need to order and then share with the buyer in order to complete the sale.
Transaction management is the air traffic control of the closing process. They make sure all paperwork is where it needs to be, when it needs to be there, as well as coordinating various parts of the process.
Some of the aspects of the process that transaction managers handle are:
Checking assorted documents, including the agreement of sale
The original timeline of the process, as well as any updates or revisions to it
Confirmation of deposits sent
Request and look over the title report
Confer with the lender in regards to both the loan and the appraisal
Make sure all required documents have been received (including conveyancing materials)
The process of selling your home - especially on the legal end and closing itself - can be daunting and complicated. There are many little details and legalities that the average person without a background in real estate might not know about. The timing of each step needs to be scheduled and adhered to unless a change is agreed upon by both parties. With all that has to be done when selling a house - packing, cleaning, coordinating a move, updating your address - no one needs any additional stress during this time. A Realtor with an experienced team can make all the difference between a quick, easy closing or a long, drawn out nightmare that could cause the entire deal to fall through. If you’re feeling lost or overwhelmed with this process or would like a consultation, please reach out to us using the form below.
Not only does our team have combined years of experience handling real estate transactions across Pennsylvania and New Jersey, we also operate a secondary business, White Oak Conveyancing, handling transaction management AND conveyancing for other Real Estate Professionals in our areas! You can learn more about that at www.whiteoakconveyancing.com.
Fill out the form to get in touch with our team to learn more about how we can help you sell and/or buy a house in the upcoming months.