When does exchange of contracts happen for residential conveyancing in Stalham and am I required to be at the lawyers branch?
Where you are round the corner to one of the conveyancing solicitors in Stalham you are invited in to sign the paperwork. That being said, the law practices we work with supply a countrywide conveyancing service and give as equally comprehensive and professional a job for you when dealing with you by post or email. The signing of the contract is not the point of no return. Signing on the dotted line is necessary for the conveyancer to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Stalham)to be in the office at the appropriate time.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Stalham?
First, this is very unlikely to happen. 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.
Will my lawyer be raising questions about flooding as part of the conveyancing in Stalham.
The risk of flooding is if increasing concern for lawyers dealing with homes in Stalham. There are those who acquire a house in Stalham, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a various searches that may be initiated by the purchaser or by their lawyers which will give them a better understanding of the risks in Stalham. The standard property information forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to determine if the property has suffered from flooding. If flooding has previously occurred which is not revealed by the owner, then a buyer could bring a legal claim for losses as a result of such an incorrect reply. A purchaser’s lawyers will also commission an environmental report. This will reveal whether there is any known flood risk. If so, additional inquiries should be conducted.
I acquired my home on 1 January and the transaction details is yet to be registered. Should I be concerned? My conveyancing solicitor in Stalham advises it would be dealt with in a couple of weeks. Are properties in Stalham particularly slow to register?
As far as conveyancing in Stalham is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can differ subject to the party submitting the application, whether there are errors and whether the Land registry must send notices to any 3rd persons or bodies. At present roughly 80% of such applications are completed in less than three weeks but occasionally there can be extensive hold-ups. Historically registration takes place once the buyer is living at the property therefore 'speed' is not usually top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer must contact the land registry and explain the circumstances.
I am buying my first flat in Stalham with the aid of help to buy. The developers would not budge the price so I negotiated £7000 of additionals instead. The house builders rep advised me not to tell my conveyancer about this deal as it could put at risk my loan with Virgin Money. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am not able to attend my Stalham conveyancing lawyers office to execute documents for conveyancing in Stalham – is this a problem?
You need not be concerned. Stalham conveyancing solicitors can deal with conveyancing transactions for clients who are based anywhere. You are unlikely to be required to visit a Stalham conveyancers office. They can undertake everything via phone, post and email - whatever works for you.