Completed the sale of my flat in Oxshott last August but my buyer keeps texting every few hours to say her solicitor is waiting to hear from mine. What should have happened following completion?
Post completion of your sale your lawyer should send the transfer deeds and all supplemental paperwork to the buyer’s solicitors. Where relevant, your lawyer must also confirm that the legal charge in favour of the lender has been redeemed to the purchasers conveyancers. There are no post completion formalities specific conveyancing in Oxshott.
My wife and I are purchasing a flat in Oxshott. It might be a silly question but how we can trust a lawyer? At some point we have to send funds into their account. What is the protection we have from them run away with our money?
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.
My stepmother informed me that in purchasing a property in Oxshott there may be a number of restrictions prohibiting external changes to the property. Is this right?
There are anumerous of properties in Oxshott which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Oxshott should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Barclays, do Oxshott property lawyers face a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I have been told that property searches are a common reason for hinderance in Oxshott house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Oxshott.
It has been 2 months since my purchase conveyancing in Oxshott took place. I have checked the Land Registry site which shows that I paid £200,000 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 residence 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.
I am buying a new build house in Oxshott with the aid of help to buy. The developers would not reduce the amount so I negotiated £7000 of extras instead. The estate agent suggested that I not reveal to my solicitor about this side-deal as it could put at risk my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am short of a 10% deposit on my apartment purchase in Oxshott , but I am anxious go ahead. Do I have options?
One option is to try and agree a lesser deposit. Many vendors will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment