We are buying our first property. The conveyancing practitioner has calledto see if we wish to order extra conveyancing searches. We are really unsure what's recommended for conveyancing in Berkeley
The type of Berkeley conveyancing searches should be dictated primarily on the premises, the location, the likelihood of any of these risks, your knowledge of the region and risks, your general attitude to risk. What is important is that you adequately appreciate what information each search could supply. You may then make a decision if you personally think you need that search. If in doubt, ask the property lawyer to explain.
We're in Berkeley, First time buyers purchasing with a mortgage (lender is Lloyds , and our lawyer is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Should our lawyer be raising questions concerning flooding during the conveyancing in Berkeley.
Flooding is a growing risk for conveyancers carrying out conveyancing in Berkeley. There are those who purchase a property in Berkeley, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a number of checks that may be initiated by the purchaser or by their solicitors which will give them a better understanding of the risks in Berkeley. The standard property information forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to find out if the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the owner, then a buyer could bring a compensation claim resulting from an incorrect reply. A buyer’s solicitors should also carry out an environmental search. This should indicate if there is a recorded flood risk. If so, additional investigations should be made.
I'm purchasing my first flat in Berkeley benefiting from help to buy. The builders would not budge the price so I negotiated 6k of extras instead. The property agent advised me not disclose to my conveyancer about this deal as it will put at risk my mortgage with The Royal Bank of Scotland. 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.
My husband and I are novice buyers - agreed a price, yet the estate agent informed us that the seller will only go ahead if we instruct their chosen solicitors as they need a ‘quick sale’. Our preferred option is to instruct a family conveyancer used to conveyancing in Berkeley
We suspect that the seller is unaware of this ultimatum. If they want ‘a quick sale', turning down a motivated purchaser is likely to cause more damage than good. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you are chain free (d) you wish to move quickly (e)however you will continue to use your own,trusted Berkeley conveyancing lawyers - rather thanthe ones that will provide their estate agent a introducer fee or meet his conveyancing thresholds pre-set by HQ.
We are in the process of a leasehold sale of a flat in Berkeley. Conveyancing lawyers are doing their job but we have been asked to pay an extortionate amount from the freeholder. To date we have paid £237 for a leasehold management information and then a further £117.20 for supplemental questions supplied by the purchaser's conveyancer.
You will not have control over the extent of the charges for this information but the typical fee for the information for Berkeley leasehold property is £360. For Berkeley conveyancing deals it is customary for the owner to cover the costs. The freeholder or their agents are not duty bound to address such questions most will be content to do so - albeit often at high prices where the fees bear little relation to the work involved. Unfortunately there is no legislation that requires fixed charges for administrative tasks. There is no prescriptive time limit by which they are required to supply the information.