At what point will exchange of contracts take place for residential conveyancing in Tisbury and am I required to be at the conveyancers office?
Where you are in close proximity to one of the conveyancing solicitors in Tisbury you are invited in to sign contracts. However, the lender approved solicitors we work with offer countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when communicating with you electronically. The signing of the sale agreement is not when everything is set in stone. Signing on the dotted line simply enables the solicitor to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process 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 Tisbury)to be in the office available at the end of the phone to exchange contracts.
Please explain the implications if my solicitor is removed from the TSB Solicitor panel ahead of completing my conveyancing in Tisbury?
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.
Various web forums that I have visited warn that are a common reason for delay in Tisbury house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Tisbury.
I have recentlydiscovered that Stirling Law have closed. They conducted my conveyancing in Tisbury for a purchase of a leasehold apartment 10 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tisbury conveyancing specialists.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Tisbury. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Tisbury
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants.
I dont have enough spare money to pay a 10% deposit on my flat purchase in Tisbury , but I am keen exchange. Do I have options?
One option is to try and accept a lesser deposit. Many property owners will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second