Finally the sale completed on my house in Nag's Head last July but my buyer keeps whats apping every few hours to say his solicitor is waiting to hear from mine. What should my lawyer have done now that I have sold?
After completion of your house sale your solicitor should send the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Where appropriate, your conveyancer should also evidence that the home loan has been redeemed to the buyers lawyers. There are no post completion tasks peculiar conveyancing in Nag's Head.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Coventry BS Solicitor panel ahead of completing my conveyancing in Nag's Head?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are purchasing a property in Nag's Head. I might seem paranoid but how we can trust a solicitor? At some point we will need to deposit funds 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.
Is it correct that all Nag's Head CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing list of approved practices?
Some major lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
Can you point me to a directory of Aldermore panel solicitors in Nag's Head on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings visible over the internet. If you are seeking to appoint a Nag's Head solicitor on the Aldermore please use our tool.
How does conveyancing in Nag's Head differ for new build properties?
Most buyers of new build property in Nag's Head approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Nag's Head tend to purchase the site, 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 conveyancers 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 used to new build conveyancing in Nag's Head or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Nag's Head is the location of the property. What do you suggest?
Flying freeholds in Nag's Head are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Nag's Head you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Nag's Head may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What makes your site different to other web based conveyancing brokers when it comes to conveyancing in Nag's Head?
At this site obtain a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Nag's Head. Unlike many estate agents and brokerage sites we do not have referral arrangements with solicitors. Some agents and online brokers 'recommend' solicitors who pay the most per referral, as opposed to the best value conveyancing in Nag's Head