Have just purchased a repossessed house at auction in Salcombe. Conveyancing is necessary. What happens now?
Having exchanged you now have to find a conveyancing solicitor quickly as you are facing a pending a fixed date to complete the property. All auction property will have a bespoke legal set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold premises the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You should pass this on to the conveyancer working for you ASAP. You also need to ensure that that you have the requisite funding in order to complete on the on the contractual date .
Is it the case that all Salcombe CQS (Conveyancing Quality Scheme) solicitors are on the Barclays conveyancing panel?
A selection of lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
I recently had an offer agreed on an apartment in Salcombe. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £175. Not long after, the solicitor contacted me sheepishly admitting that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I moved into my flat on 4 January and the transaction details are still not registered. Any reason for this? My conveyancing solicitor in Salcombe advises it should be registered in less than a month. Are transfers in Salcombe uniquely lengthy to register?
There is nothing unique about conveyancing in Salcombe registration formalities. As opposed to being determined by geographic area, timescales can vary subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any third parties. At present in the region of 80% of submission are fully dealt with within 12 days but some can be subject to extensive delays. Registration takes place once the new owner is living at the premises thus 'speed' is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Salcombe differ for newly converted properties?
Most buyers of new build property in Salcombe come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Salcombe typically acquire the real estate, 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 used to new build conveyancing in Salcombe or who has acted in the same development.
My husband and I are FTB’s - agreed a price, yet the agent informed us that the vendor will only proceed if we use the agent's chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a local conveyancer who is familiar with conveyancing in Salcombe
It is improbable the vendors are behind this. Should the owner desire ‘a quick sale', taking such a hostile approach to a motivated buyer is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your own,trusted Salcombe conveyancing solicitors - not the ones that will give the negotiator at the agency a referral fee or hit his conveyancing figures set by head office.
I am looking at a two flats in Salcombe which have approximately forty five years remaining on the leases. Do I need to be concerned?
There are plenty of short leases in Salcombe. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field.
Salcombe Leasehold Conveyancing - Examples of Questions you should ask before buying
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It would be sensible to investigate if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Salcombe. If you like the apartmentin Salcombe however your cat can’t live with you then you will be presented with a difficult decision. Are there any major works in the near future that will add a premium to the service charges? Is there a share of the freehold?
I purchased a house in Salcombe last 8/4/2024 and to date it is still not registered with HMLR. It is part of a new estate and my property lawyer told me that it can take twelve months to register. I have contacted HMLR directly and they have informed me the initial application was cancelled due to failure to reply to requisitions. What can I do?
Call your property lawyer - Where you are unsatisfied with the responses, look up their firm’s complaints procedure and escalate your concerns to a Complaints Manager. Registrations for Salcombe conveyancing are not known to be particularly slow.