My brother and I have just purchased a house in Penzance. We have noticed several issues with the property which we believe were missed in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that needed to have been conducted as part of conveyancing in Penzance?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Penzance. Conveyancing searches and investigations initiated during the buying process are carried out to help avoid problems. As part of the legal transfer of property, the vendor fills in a form known as a SPIF. If the information ends up being inaccurate, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Penzance.
What does my ID and proof of funds have anything to do with my conveyancing in Penzance? What am I being asked for?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Penzance. Nowadays you will not be able to complete any conveyancing transaction if you have not submitting proof of your identity. This usually takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are providing your driving licence as proof of identification it must be both the paper section and photo card part, one is not acceptable in the absence of the other.
Evidence of your origin of monies is required under Money Laundering Regulations. Please do not be offended when you are asked to produce this as your conveyancing solicitor will need to have this information on file. Your Penzance conveyancing practitioner will need to see evidence of proof of funds prior to accepting any money from you into their client account and they will also ask additional queries concerning the origin of monies.
How does conveyancing in Penzance differ for newly converted properties?
Most buyers of new build premises in Penzance contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because builders in Penzance usually acquire the land, 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 accustomed to new build conveyancing in Penzance or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Penzance before appointing conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies tend refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Penzance. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I am about to spend 450k on a garden flat in Penzance I would like to have a conversation with the solicitor concerning thetransaction prior to instructing the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you first talking to the conveyancer who will be conducting your conveyancing in Penzance.There is no ‘factory style conveyancing’ - each client is unique person, not a file reference. The practices that we put you in touch with believe that the figure you are quoted for residential conveyancing in Penzance should be the figure that you are charged.
Are there any apps to help find a Penzance conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to twentymiles to attend the solicitor.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location, in this case Penzance and you will see a number of lawyer located nearest Penzance. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.