I am nearing exchange of contracts for my ground floor flat in tipton and the estate agent has just telephoned to advise that the buyers are appointing a new conveyancer. The reason given is that the lender will only work with property lawyers on their conveyancing panel. Why would a big named lender only work with certain law firms rather the firm that they want to appoint for their conveyancing in tipton ?
Lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
The sellers of the house we are looking to purchase have appointed a conveyancing practitioner in tipton who has insisted on a exclusivity contract with a deposit 10k. Is it wise to enter into such agreements?
Exclusivity contracts are contracts between a property seller and prospective acquirer granting the buyer a ‘clear field’ to purchase the property within an agreed time frame. Essentially, a lock out is a document stating that you should have a contract at a later date which is the main conveyancing contract. It tends to be used for buyer protection though in some cases, the owner may stand to benefit from such agreements as well. There are numerous positives and negatives to using an agreement but you should to check with your solicitor but beware that it may end up costing you more in conveyancing fees. For this these contracts are unusual in relation to conveyancing in tipton.
What is the first thing I need to know regarding purchase conveyancing in tipton?
Not many law firms shout this from the rooftops but conveyancing in tipton and elsewhere in England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there exists an abundance of opportunity for confrontation between you and other parties involved in the transaction. For instance, the vendor, property agent and on occasion a mortgage company. Choosing a law firm for your conveyancing in tipton should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the transaction whose role it is to look after your legal interests and to keep you safe.
We are witnessing a worrying creep in the "blame" culture- someone has to be at fault for the process being so protracted. We recommend that you must always trust your conveyancer above all other parties when it comes to the legal assignment of property.
Should commercial conveyancing searches reveal proposed roadworks that may affect a commercial estate in tipton?
Its becoming the norm that commercial conveyancing solicitors in tipton will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in tipton. The search result 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 tipton.
For each commercial conveyancing transaction in tipton it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to tipton commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in tipton.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, no chain conveyancing. tipton is the location of the property. What do you suggest?
Flying freeholds in tipton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside tipton you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in tipton may decide 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.
In my capacity as executor for the estate of my uncle I am disposing of a property in Neath but I am based in tipton. My solicitor (approximately 250 miles awayrequires that I execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing practitioner in tipton who can witness this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in tipton