We are soon to complete on the purchase of a house in Coulsdon but as a consequence of wreckage from some water damage at the property I have managed to agree compensation from the vendor of £3k taking the form of a adjustment in the price. I had intended this to be addressed as part of a side agreement yet Co-operative will not agree to this. Should they have been informed?
Any solicitor that is on a Co-operative approved list is duty bound to disclose to Co-operative of any amendments to the purchase price. If you prohibit your solicitor to notify the reduction to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new lawyer for your conveyancing in Coulsdon.
At what point does exchange of contracts take place for domestic conveyancing in Coulsdon and am I required to be at the conveyancers branch?
Where you are near to our conveyancing solicitors in Coulsdon you are welcome to attend to sign contracts. However, the firms we recommend supply countrywide coverage for conveyancing and give as equally diligent and professional a job for you when communicating with you digitally. The signing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities 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 an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Coulsdon)to be in the office available at the end of the phone to exchange contracts.
We're in Coulsdon, FTBs purchasing with a mortgage (lender is Nottingham , and our lawyer is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham 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.
I purchased a renovated Victorian house in Coulsdon. Conveyancing practitioner represented me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Coulsdon and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing lawyer who carried out the work.
Do I need to be concerned about 3rd parties that I am dealing with are recommending an online conveyancing firm as opposed to a local Coulsdon conveyancing firm?
As is the case with lots of service providers, often recommendations from relatives can be most helpful. But there are many players in a conveyancing deal; estate agents, mortgage brokers and banks may suggest conveyancers to use. Sometimes these solicitors might be known to one of the organisations as experts in their field, but occasionally there exists a commercial relationship behind the recommendation. You are at liberty to appoint your own conveyancer. Don't forget that the majority of mortgage providers have an approved list of law firms you have to use for the mortgage related work in your transaction.
I am just shy of a 10% deposit on my apartment purchase in Coulsdon , but I am keen go ahead. What can I do?
You can agree a lower deposit. Most vendors will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment