The conveyancer who assisted with my previous purchase has sent a quote for £1400 for freehold conveyancing in Polesworth. I’m looking to sell a newly refurbished house for £225,000. Are the quoted fees excessive? Is it above what I should be paying for conveyancing in Polesworth?
The charges are a bit high. If you shop around you could shave off some of the cost by say £100 plus VAT. On the other hand, you maycome to regret opting for an a cheaper conveyancer. Don't forget to check the solicitor can also act for your mortgage company. Do make use of our search tool to get a quote a Polesworth conveyancing practice on the lender’s member panel which can often include conveyancing solicitors in Polesworth.
My grandson is about to exchange on a new build apartment in Polesworth with a home loan from Virgin Money. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
four months have gone by since my purchase conveyancing in Polesworth concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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 flat in Polesworth. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Polesworth
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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? Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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.
I was pointed in your direction by a few estate agents in Polesworth to locate a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to promote your services ahead of alternative conveyancing organisations?
We refuse to offer any commission for directing people in our direction. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My sealed bid on property in Polesworth was agreed to, the owner does nevertheless have a tied purchase. The sellers have put an offer on on an apartment, but it’s not been accepted yet, and has viewings of other flats in the pipeline. I have chosen a local conveyancing solicitor in Polesworth. What do I do now? At what point do I apply for the mortgage with Nottingham?
It is understandable to have apprehensions where there is an associated chain given your reluctance to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Polesworth conveyancing search charges, etc). First, you should ensure that your lawyer is on the Nottingham approved list. Regarding the next steps this very much depends on the specifics of your transaction, desire for the property and on the state of the market. In a hot market the majority of buyers would apply for the mortgage with Nottingham and pay for the survey and only if it was satisfactory would they pay their conveyancer to press on with searches.