We are only a couple days away from an exchange on a house in Potswood and my parents have sent the exchange deposit to my lawyer. I am now told that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The solicitor is obliged to check with the bank to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I am selling our property in Potswood and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A high street Potswood conveyancer would know this is not the case. For the life of me I don't know why the purchasers used an online conveyancing firm rather than a conveyancing solicitor in Potswood. We have lived in Potswood for 4 years we know that this is a non issue. Should we contact our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I have justfound out that Arc property Solicitors have been shut down. They conducted my conveyancing in Potswood for a purchase of a freehold house 12 months ago. How can I establish that the property is in my name in the name of the former proprietor?
The easiest way to see if the property is in your name, you can carry out 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 Potswood conveyancing specialists.
How does conveyancing in Potswood differ for new build properties?
Most buyers of new build property in Potswood come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Potswood tend to acquire 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 conveyancing solicitors 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 Potswood or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Potswood is the location of the property. What do you suggest?
Flying freeholds in Potswood are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Potswood 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 Potswood 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.
We're new on the property ladder - agreed a price, but the estate agent advised that the vendor will only issue a contract if we instruct their preferred solicitors as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Potswood
It is highly unlikely the owners are driving this. Should the owner desire ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Contact the owners directly and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to instruct your preferred Potswood conveyancing lawyers - not the ones that will earn their estate agent a kickback or achieve conveyancing figures pre-set by HQ.