We are buying a property in Edgbaston. I might seem paranoid but how we can trust a solicitor? At some point we have to send money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in Edgbaston
Two types of professional can perform conveyancing in Edgbaston namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that you need to complete the sale or purchase of property. They are both duty bound to handle Edgbaston conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally administered and that all requisite procedures will be appropriately attended to.
Last month we had a mortgage agreed in principle with RBS. Edgbaston conveyancing solicitors have been appointed. How long does it take for RBS to send the offer to the conveyancer?
There is no definitive answer here. Have RBS completed the valuation? Have you informed RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
How does conveyancing in Edgbaston differ for newly converted properties?
Most buyers of new build property in Edgbaston come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Edgbaston tend to acquire the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Edgbaston or who has acted in the same development.
What does commercial conveyancing in Edgbaston cover?
Non domestic conveyancing in Edgbaston incorporates a broad range of services, offered by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I need to find a conveyancing solicitor for residential conveyancing in Edgbaston. I happened to stumble upon a site which seems to have the perfect solution If there is a chance to get all the legals done via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I work for a reputable estate agent office in Edgbaston where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Edgbaston conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Edgbaston Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
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Generally speaking the outlay for major works tend not to be wrapped into the service charges, although there some managing agents in Edgbaston obliged tenants to contribute towards a reserve fund and this is used to offset against larger works. The majority of Edgbaston leasehold apartments will have a service bill for maintenance of the building set on behalf of the landlord. If you purchase the apartment you will have to meet this liability, normally periodically during the year. This may be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all likelihood there will be a rentcharge for you to pay annual, this is usually not a significant figure, say about £25-£75 but you should to enquire it because on occasion it could be many hundreds of pounds.
My wife and I accepted an offer on a Edgbaston flat left to us ten years ago in 2011. I have over ten years conveyancing experience and, now retired, wish to carry out my own legal work. The purchaser's conveyancer has informed me that their mortgage company will not allow you to do your own conveyancing insisting the funds to be passed via a solicitor's bank account.
Lending instructions to conveyancers from all mainstream lenders specify that If the vendor is not legally represented the borrower's lawyers should check whether the bank needs to be informed so that a decision can be made as to whether or not they are willing to proceed.