Are there restrictive covenants that are commonly identified during conveyancing in Blakedown?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Blakedown. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Blakedown differ for new build properties?
Most buyers of new build residence in Blakedown contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Blakedown usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Blakedown or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, chain free conveyancing. Blakedown is where the house is located. Can you shed any light on this issue?
Flying freeholds in Blakedown are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blakedown you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blakedown may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I have been pointed in your direction by numerous selling agents in Blakedown to locate a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to offer your site ahead of another?
We don’t make any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Should I appoint a Blakedown conveyancing practitioner based in the vicinity that I am buying? An old friend can carry out the conveyancing however his firm is located over three hundred kilometers away.
The benefit of a high street Blakedown conveyancing practice is that you can visit the firm to sign paperwork, deliver your ID and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were happy that must surpass using an unfamiliar Blakedown conveyancing lawyer solely due to them being Blakedown based.
Our conveyancer in Blakedown has uncovered a defect with the lease for the property we are purchasing in Blakedown. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the bank conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.