My fiancee and I are acquiring our first home. The conveyancing practitioner has contact usto check if we want to order supplemental conveyancing searches. We are really unsure what's recommended for conveyancing in Chelmsford
The quantity and type of Chelmsford conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your familiarity of the area and risks, your overall approach to risk. What is important is that you adequately comprehend what information the searches could give you. You may then decide if you personally think you need that information. Should you be uncertain, ask the solicitor to guide you.
What does my ID and proof of funds have anything to do with my conveyancing in Chelmsford? Why is this being asked of me?
Chelmsford conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement no more than three months).
Evidence of source of monies is also necessary under the money laundering statutes as conveyancers are obliged to check that the funds you are using to acquire a property (be it the exchange deposit or the full purchase monies where you are a cash purchaser) has come from legitimate source (such as an inheritance) rather than the product of illegitimate activity.
I have been told that property searches are the main cause of delay in Chelmsford conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Chelmsford.
Should I be wary by brokers that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a local Chelmsford conveyancing company?
As is the case with many service providers, often input from relatives can be extremely useful or valuable. Yet there are many parties with a vested interest in a conveyancing deal; estate agents, financial adviser and banks may put forward conveyancers to instruct. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes financial incentive behind the endorsement. You are at liberty to choose your preferred lawyer. Don't forget that most banks specify a panel list of solicitors you are obliged to use for the mortgage aspect of your home move.
I have been sourcing a conveyancing solicitor in Chelmsford for my sale. Is it possible to check a solicitor's complaints history with the profession’s regulator?
Anyone can see published Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Visit Check a solicitor's record. To find records Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The SRA may monitor call for training reasons.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £225,000 apartment in Chelmsford in just under a week. The management company has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Chelmsford?
Chelmsford conveyancing on leasehold maisonettes often involves the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to assist. They are entitled to invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Leasehold Conveyancing in Chelmsford - Examples of Questions you should ask Prior to buying
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Many Chelmsford leasehold flats will have a service bill for maintenance of the building invoiced on behalf of the freeholder. If you purchase the apartment you will have to meet this liability, normally quarterly during the year. This can differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a ground rent for you to pay yearly, normally this is not a exorbitant sum, say around £50-£100 but you should to check it because occasionally it could be many hundreds of pounds. The answer will be useful as a) areas could cause problems in the block as the common areas may begin to deteriorate where maintenance remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to have all the details Are there any major works in the near future that will likely increase the service charges?