Me and my partner are buying our first property. Our solicitor has texted usto ask if we would like to take out additional conveyancing searches. As novices we have no idea as to what's recommended for conveyancing in Olney
The number and type of Olney conveyancing searches should be triggered based entirely on the property, the location, the likelihood of any of these risks, your familiarity of the area and risks, your overall approach to risk. What matters is that you adequately comprehend what information each search could provide. Then you can make a decision if you consider that you need that search. Where you are uncertain, ask your lawyer to advise.
The Olney conveyancing solicitors that I appointed last week on my house acquisition in Olney have suddenly shut down. I only went with them because I had to have a solicitor on the Lloyds conveyancing panel and my preferred Olney lawyer was not. I paid them 275 plus VAT in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
I have justbeen informed that Stirling Law have closed. They conducted my conveyancing in Olney for a purchase of a leasehold flat 12 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Olney conveyancing specialists.
I am buying a new build flat in Olney. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Olney
-
Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Olney is the location of the property. Is there any guidance you can impart?
Flying freeholds in Olney are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Olney you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Olney may ascertain 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 property.
My uncle has recommend that I use his conveyancers in Olney. Do I take his guidance?
No doubt the best way to find a conveyancing solicitor is to have recommendations from friends or relatives who have experience in using the conveyancer you're contemplating using.