I am not well enough to travel far from Badminton. I would like to know the logic why all Badminton conveyancing practitioners are not on all bank panels?
Even though it may seem unfair for banks to restrict who can act for them, from the public’s or lawyer’s viewpoint, the flip side is that banks are becoming ever more anxious and feel it essential to shield themselves against illegal activities. As a consequence of this concern mortgage companies are limiting their panel of approved conveyancing lawyers to a manageable size.
My partner and I have lately bought a house in Badminton. We have since encountered a number of issues with the house which we believe were overlooked in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that should have been conducted for conveyancing in Badminton?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Badminton. Conveyancing searches and due diligence initiated during the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, the vendor answers a document referred to as a Seller’s Property Information Form. If the information is incorrect, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Badminton.
My wife and I are selling our house in Badminton and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the purchasers used an internet conveyancing outfit rather than a conveyancing solicitor in Badminton. We have lived in Badminton for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
How does conveyancing in Badminton differ for new build properties?
Most buyers of new build property in Badminton contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Badminton tend to 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 Badminton or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Badminton is the location of the property. What do you suggest?
Flying freeholds in Badminton 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 Badminton you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Badminton may determine 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.