In this episode, Nick delves into the essential topic of choosing the right conveyancing solicitor for property investment. He explains the role of a conveyancing solicitor, emphasising the importance of specialisation in investment properties such as buy-to-lets, HMOs, and commercial real estate. Nick shares key criteria to consider when selecting a solicitor, including their experience with property investment transactions, membership on lender panels, fee structures, and communication practices. He also highlights the value of online case tracking and the significance of professional accreditation. 

KEY TAKEAWAYS

• When choosing a conveyancing solicitor, it's crucial to select one who specialises in property investment conveyancing, including buy-to-let properties, commercial properties, and other investment strategies.

• Ensure that the conveyancer is on the approved panel for your chosen lender. This can help avoid delays and additional costs during the transaction process.

• Look for a conveyancer who communicates proactively and provides updates on the transaction's progress. A dedicated case handler is ideal for addressing any questions directly.

• Opt for a conveyancer who offers fixed fees rather than hourly rates, ensuring cost certainty. A detailed written quote outlining all fees and disbursements is also essential.

• Verify that the solicitor is regulated by the Solicitors Regulation Authority (SRA) or, if using a licensed conveyancer, by the Council for Licensed Conveyancers (CLC). Additionally, inquire about their experience with property investment transactions and seek references from other clients.

BEST MOMENTS

"A conveyancing solicitor is someone who facilitates the sale of a property, you need to have a specialisation in property investment conveyancing."

"You want a conveyancer who communicates proactively and keeps you updated on the progress of your transaction."

"Opt for a conveyancer who offers a fixed fee rather than hourly rate. This provides you with cost certainty."

"Choosing the right conveyancing solicitor can significantly impact the success of your property investment business."

"You can actually do a seven hours time difference to Great Britain, you can sit on the beach and do this."

 

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HOST BIO

Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations.

He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems.

Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business