The housing market in Usk is heating up. What can I do to expedite matters?
First, If the seller is applying time constraints to exchange we would recommend that your conveyancer is familiar with the area as they will have local contacts and knowledge. It is possible that they could have handled otherhouses in the same neighbourhood. Therefore consider using a Usk conveyancing firm. Second, ensure that the lawyer is on the lender panel. It is believed that 18% of Usk conveyancing transactions are delayed or derailed after discovering a purchaser’s conveyancer was not on their banks member panel. This can often result in the legal transfer of property being delayed by as much as 21 days. It is claimed that this issue affects in the region of one hundred thousand home sales annually. Almost all Usk conveyancing practices can not act for certain banks so do check as early as possible.
I have been told that property searches are the number one reason for delay in Usk house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Usk.
Are there restrictive covenants that are commonly identified as part of conveyancing in Usk?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Usk. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Usk differ for newly converted properties?
Most buyers of new build property in Usk approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because developers in Usk usually 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 conveyancing solicitors 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 used to new build conveyancing in Usk or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Usk is the location of the property. What do you suggest?
Flying freeholds in Usk are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Usk you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Usk 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 residence.
We're novice buyers - had an offer accepted, yet the property agent told us that the vendor will only move forward if we appoint their chosen solicitors as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family solicitor who is accustomed to conveyancing in Usk
It is highly unlikely the vendors are driving this. Should the vendor desire ‘a quick sale', alienating a serious purchaser is going to damage their objectives. Contact the owners directly and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you intend to use your own,trusted Usk conveyancing firm - not the ones that will earn the estate agent a commission or hit his conveyancing thresholds set by head office.