I am progressing with the sale of my maisonette in Kirkby in Ashfield and the estate agent has just telephoned to advise that the buyers are switching conveyancer. The reason given is that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a leading lender only engage with certain law firms rather the firm that they want to select for their conveyancing in Kirkby in Ashfield ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
I am about to exchange buying a property in Kirkby in Ashfield but as a result of damage from a small fire at the property I have was able negotiate compensation from the vendor in the sum of three thousand pounds in the form of a deduction in the price. This was going to be dealt with as part of amending the contract however HSBC are not allowing this. Why were they approached?
Any conveyancer being on the HSBC approved list is duty bound to inform HSBC of any amendments to the sale price. If you were to refuse your property lawyer to notify the reduction to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new lawyer for your conveyancing in Kirkby in Ashfield.
Completed the sale of my flat in Kirkby in Ashfield last November but the buyer keeps Skype messaging me to say her solicitor is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
Post completion of your sale your solicitor is committed to deliver the transfer documentation and all supplemental paperwork to the purchaser's conveyancer. Depending on the transaction, your solicitor must also evidence that the legal charge in favour of the lender has been discharged to the buyers lawyers. There are no post completion requirements specific conveyancing in Kirkby in Ashfield.
My relative recommended that where I am purchasing in Kirkby in Ashfield I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Kirkby in Ashfield conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Kirkby in Ashfield around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Kirkby in Ashfield Education with plans and statistics, Local Amenities and other useful data about Kirkby in Ashfield.
We're new on the property ladder - agreed a price, but the selling agent advised that the vendor will only move forward if we use their recommended lawyers as they need a ‘quick sale’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Kirkby in Ashfield
It is highly unlikely the vendors are behind this. Should the vendor desire ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Try to communicate with the sellers directly and make sure they understand (a)you are motivated buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you intend to proceed fast (e)however you are going to instruct your preferred Kirkby in Ashfield conveyancing solicitors - rather thanthe ones that will give the estate agent a commission or meet his conveyancing figures demanded by HQ.
I’m about to sell my garden flat in Kirkby in Ashfield. Conveyancing has not commenced, but I have recently had a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear the maintenance contribution as usual given that all ground rent and maintenance charges will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I purchased a ground floor flat in Kirkby in Ashfield, conveyancing formalities finalised in 2005. How much will my lease extension cost? Equivalent properties in Kirkby in Ashfield with an extended lease are worth £201,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2091
With 65 years remaining on your lease we estimate the premium for your lease extension to be between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.