At what point can the exchange of contracts occur in domestic conveyancing in The Park and am I required to attend the solicitors branch?
Where you are near to one of the conveyancing solicitors in The Park you are invited in to sign contracts. That being said, the firms we work with supply countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when dealing with you digitally. The signing of the property agreement is not the point of no return. Signing on the dotted line is just a prerequisite for the conveyancer to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in The Park)to be in the office at the appropriate time.
Do commercial conveyancing searches reveal planned roadworks that may impact a commercial land in The Park?
Its becoming the norm that commercial conveyancing solicitors in The Park will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in The Park. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in The Park.
For every commercial conveyancing transaction in The Park it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to The Park commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in The Park.
The deeds to our house are lost. The solicitors who conducted the conveyancing in The Park 10 years ago are no longer around. What are my options?
Assuming you have a registered title the information relating to your ownership will be evidenced by the Land Registry under a Title Number. It is possible to execute a search at the Land Registry, find your house and secure up to date copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually retain a file copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I decided to have a survey done on a property in The Park before retaining lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some banks may refuse to issue a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in The Park. Conveyancing may be slightly more expensive based on your lender's requirements.
I was advised by a few selling agents in The Park to find a solicitor on your site. Is there a financial upside for Estate Agents to recommend your site over and above alternative conveyancing organisations?
We don’t make any referral fee for directing people our way. We thought it would be too underhand a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
We are in the middle of purchasing a property in The Park. Conveyancing lawyer has called to say the title is "Leasehold". Will this likely impact our Halifax valuation?
The Park conveyancing does not normally involve leasehold houses. The main consideration here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it shouldn't impact the marketability significantly.
At the other end of the spectrum, if it's, say, fifty five years it will have a significant impact on the saleability, and most likely wouldn't be acceptable to the lender. The remaining lease term and ground rent will be specified in the lease which should be made available to your solicitor.