We selected a high street solicitor for our conveyancing in Honor Oak today. Reviewing the Terms and Conditions it is apparent thatI am responsible for costs even if our purchase aborts. Should I go with them or choose an on-line lawyer who offer no-sale-no-fee conveyancing in Honor Oak?
It is usually a trade off in that if "No Sale No Fee" is advertised then the fee levels will tend to be be uplifted to neutralise the cases that fail to complete. Please beware that these offerings rarely cover expenditure for example Honor Oak conveyancing search fees.
As someone clueless as to the Honor Oak conveyancing process what’s the number one tip you can impart concerning the legal transfer of property in Honor Oak
Not many law firms shout this from the rooftops but conveyancing in Honor Oak and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there exists lots of room for friction between you and others involved in the ownership transfer. E.g., the vendor, property agent and on occasion a bank. Choosing a law firm for your conveyancing in Honor Oak is a critical decision as your conveyancer is your adviser, and is the ONLY party in the transaction whose role it is to look after your legal interests and to keep you safe.
Sometimes a potential adversary will try and persuade you that it is in your interests to do things their way. For example, the property agent may claim to be assisting by suggesting your conveyancer is slow. Or your mortgage broker may advise you to do take action that is contrary to your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
This question may be naive but I am unexperienced as FTB of a two bedroom flat in Honor Oak. Do I pick up the keys to the premises on the completion date from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in Honor Oak?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the seller's conveyancers, and once they have received this, you will be called to pick up the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
I have decided to exercise my right to buy my property in Honor Oak off the council. I have a mortgage offer with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
Our sealed bid on a house in Honor Oak has been accepted, but there is a chain. The vendors have put an offer on on an apartment, but it’s not been accepted yet, and are looking at other properties in the pipeline. I have chosen a high street conveyancing solicitor in Honor Oak. What do I do now? When should I get the mortgage application with Santander going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, Honor Oak conveyancing search costs, etc). The first thing to do is ensure that your property lawyer is on the Santander approved list. As to the next stages this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. During a hot market the majority of buyers would apply for a home loan with Santander and pay for the valuation and only if it comes back ok would they ask their conveyancing practitioner to press on with searches.
Should my solicitor be asking questions regarding flooding as part of the conveyancing in Honor Oak.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Honor Oak. There are those who purchase a house in Honor Oak, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, however there are a number of searches that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Honor Oak. The conventional set of information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to discover whether the premises has suffered from flooding. If the residence has been flooded in past and is not notified by the seller, then a purchaser may issue a claim for damages as a result of such an inaccurate answer. A buyer’s solicitors will also conduct an enviro report. This will indicate if there is any known flood risk. If so, more detailed inquiries should be initiated.
It has been 3 months following my purchase conveyancing in Honor Oak completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Me and my fiance have recently had an offer agreed on a apartment and had meeting on Tuesday with Leeds Building Society for the mortgage. They have informed me that when it comes to appointing a property lawyer that unless they are on their approved list of solicitors then we will have to pay out an additional fee of about two hundred pounds. This is is due to the fact that they will then have to instruct a solicitor to act for them as well as the one we appoint on our behalf and we assume responsibility for their fees. I have requested Leeds Building Society to send me with a list so I can seek estimates only from their approved lawyers but was told they dont have such a list to hand over. What would be the best way of going about this?
Ask Leeds Building Society what their panel criteria is for a solicitor.Then ask the solicitor of your choice whether they meet the criteria and have they acted on loans for Leeds Building Society historically. Where the answer to those is yes, then just double check with Leeds Building Society. Alternatively please make use of our search tool and we may be able to identify a conveyancing practitioner in Honor Oak on the panel for Leeds Building Society.