Find a Lender-Approved Local Conveyancer in Chepstow

At what point does exchange of contracts occur in residential conveyancing in Chepstow and do I need to be at the lawyers office?

Where you are near to our conveyancing solicitors in Chepstow you are invited in to sign the paperwork. That being said, the firms we recommend offer a nationwide conveyancing service and provide just as comprehensive and professional a job for you when communicating with you digitally. The signing of the purchase agreement is not the critical part. A signed contract is just a prerequisite for the firm to officially exchange when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Chepstow)to be in the office available at the end of the phone to exchange contracts.

My wife and I have recently appointed a conveyancing solicitor in Chepstow. I need to find out whether they are accepted on the Barnsley Building Society approved list of lawyers. Can you help?

You should e-mail the lawyer and ask them if they are on the lender panel. Alternatively you can get in touch with Barnsley Building Society who may be able to assist.

Should my solicitor be making enquiries about flooding during the conveyancing in Chepstow.

The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Chepstow. There are those who acquire a property in Chepstow, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Conveyancers are not best placed to impart advice on flood risk, but there are a number of checks that can be carried out by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Chepstow. The conventional set of information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the vendor to find out if the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the seller, then a buyer could commence a compensation claim stemming from an incorrect reply. The purchaser’s solicitors will also conduct an environmental report. This will higlight whether there is any known flood risk. If so, additional inquiries will need to be made.

I have been on the look out for a ground for flat up to £305k and found one round the corner in Chepstow I like with amenity areas and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in Chepstow in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

If you need a home loan the remaining unexpired lease term may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.

I have been recommended by numerous property agents in Chepstow to select a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to recommend your services over another?

We refuse to give any commission for sending work our way. We thought it would be too underhand a fee as home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.

All being well we will complete our sale of a £250,000 maisonette in Chepstow in just under a week. The management company has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Chepstow?

Chepstow conveyancing on leasehold flats usually necessitates fees being invoiced by management companies :

Completing conveyancing due diligence questions Where consent is required before sale in Chepstow Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Chepstow leasehold property is £350. For Chepstow conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

Chepstow Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

This information is helpful as a) areas could cause problems in the block as the communal areas may start to deteriorate where services remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have all the details How many years are left on the lease? Are there any major works in the near future that will likely add a premium to the service fees?