I just acquired a house at auction in Bourne End. Conveyancing is required. What is next?
Having exchanged you should retain a conveyancing lawyer quickly as you now have a tight a fixed date to complete the deal. All auction property should have a bespoke legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You should pass this on to the lawyer working for you at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
I am selling my apartment. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Bank of Ireland are being difficult. The Bourne End solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Planning on purchasing a house in Bourne End. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bourne End conveyancing practitioner is on the Virgin Money conveyancing panel.
How does conveyancing in Bourne End differ for new build properties?
Most buyers of new build property in Bourne End approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Bourne End tend to acquire 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 Bourne End or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Bourne End is where the house is located. What do you suggest?
Flying freeholds in Bourne End are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bourne End you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bourne End 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 was advised by a number of property agents in Bourne End to select a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to offer your lawyers over and above alternative conveyancing organisations?
We don’t offer any commission for sending work to this site. We thought it would be too underhand to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Am I better off to choose a Bourne End conveyancing practitioner in close proximity to the house I am buying? We have a good friend who can deal with the legal formalities however his firm is located 300miles away.
The benefit of a high street Bourne End conveyancing practice is that you can attend the office to execute paperwork, hand in your ID and pester them where appropriate. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were impressed that should outweigh using an unknown Bourne End conveyancing solicitor solely due to them being based in the area.
I have been told by numerous friends that it can take up to two months for Bourne End conveyancing to complete.This was a month ago. The draft contract was only sent from the vendors lawyer yesterday so does the clock start running now?
There is no definitive time frame for conveyancing in Bourne End. Conveyancing is subject to many variable. Bourne End conveyancing searches in and of themselves may take some weeks before they are received.