Finally the sale completed on my house in Baildon last July but the buyer keeps telephoning every few hours to say her conveyancer is waiting to hear from mysolicitor. What are the post completion sale legalities following completion?
Post completion of your disposal your conveyancer is duty bound to send the transfer deeds and all additional paperwork to the buyer’s solicitors. If applicable, your solicitor should also confirm that the mortgage has been redeemed to the purchasers solicitors. There are no post completion formalities unique to conveyancing in Baildon.
This question may be naive but I am new to the house moving as FTB of a two bedroom flat in Baildon. Do I collect the keys to the property on completion from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in Baildon?
On the day of completion you do not need to go to the conveyancers office in Baildon. Your solicitors will electronically transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
I had a mortgage agreed in principle with Lloyds. Baildon conveyancing lawyers were selected. What is the average time that one could expect to receive a mortgage offer from Lloyds?
Some lenders take longer than others. Have Lloyds conducted the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I recently had an offer accepted on an apartment in Baildon. My financial adviser pressured me to appoint their lawyer. I paid an upfront payment of £175. A few days later, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Various internet forums that I have frequented warn that are the main reason for obstruction in Baildon conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Baildon.
Me and my brother have a terraced Victorian house in Baildon. Conveyancing practitioner represented me and Aldermore. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Baildon and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing lawyer who conducted the purchase.
I am purchasing my first flat in Baildon benefiting from help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not reveal to my solicitor about the deal as it could jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been advised by three or four local property agents in Baildon to select a conveyancer on your site. Is there a financial inducement for Estate Agents to recommend your services rather than another?
We refuse to give any financial incentive for sending work in our direction. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.