I am buying a property without a mortgage in Sandbanks. I have lived for the previous 15 years in Sandbanks. Conveyancing searches are expensive. Given that I know the road and vicinity very well must I have all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the Sandbanks conveyancing searches are non-obligatory. Your solicitor will ’encourage you, no-doubt strongly, that you should have searches done, but he has a professional duty to take that path of guidance. Do consider; if you are likely to sell the house in the future, it may be of importance to your prospective purchaser what the searches contain. There are plenty of instances where premises with apparent issues can still show up adverse search results. A good conveyancing solicitor in Sandbanks should be able to give you some constructive guidance in this regard.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Sandbanks?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I require fast conveyancing in Sandbanks as I have a deadline to exchange contracts in less than 4 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save money and time?
If.Given you are not getting a home loan you are at liberty not to have searches carried out although no conveyancer would recommend that you don't. Drawing on our experience of conveyancing in Sandbanks the following are examples of what can show up and adversely impact future saleability: Refused Planning Applications, Overdue Charges, Overdue Grants, Road Schemes,...
How does conveyancing in Sandbanks differ for newly converted properties?
Most buyers of new build residence in Sandbanks come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Sandbanks typically purchase 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 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 Sandbanks or who has acted in the same development.
We expect to complete the sale of our £175,000 maisonette in Sandbanks next week. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Sandbanks?
Sandbanks conveyancing on leasehold apartments normally involves the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They may charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality one has no option but to pay whatever is demanded should you wish to complete the sale of your home.
Leasehold Conveyancing in Sandbanks - Examples of Questions you should ask Prior to Purchasing
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Can you inform me if there are any major works in the planning that will likely increase the maintenance costs? The prefered form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this situation the lessees have being in charge if their destiny and notwithstanding that a managing agent is often retained where it is bigger than a house conversion, the managing agent employed by the leaseholders. Its a good idea to find out as much as possible about the managing agents as they will either make your living at the property much simpler or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to daily matters like the cleanliness of the communal areas. Ask other tenants if they are happy with their management. On a final note, be sure you understand the dates that you are obliged pay the service charge to the managing agents and specifically what it includes.
Should I stop the direct debit for my mortgage with Kent Reliance once a completion date for my home sale in Sandbanks has been set?
You are best advised to maintain paying any mortgage payments to Kent Reliance until the mortgage is paid off from the proceeds of sale as part of your Sandbanks conveyancing.