Last June we completed a house move in Birchgrove. We have noticed several issues with the house which we suspect were overlooked in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that needed to have been ordered for conveyancing in Birchgrove?
The query is vague as to the nature of the problems and if they are unique to conveyancing in Birchgrove. Conveyancing searches and due diligence undertaken during the buying process are carried out to help avoid problems. As part of the process, the vendor completes a questionnaire known as a SPIF. answers 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 Birchgrove.
Have just purchased a repossessed house at auction in Birchgrove. Conveyancing is required. What are my next steps?
Now that you have exchanged you will need to appoint a conveyancing lawyer as a matter of priority as you now have a pending a drop dead date to complete the deal. Every auction property will have a bespoke auction set of papers. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You must hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
This question may be naive but I am unexperienced as a first time buyer of a garden flat in Birchgrove. Do I receive the keys to the house on completion from my conveyancer? If so, I will instruct a High Street conveyancing solicitor in Birchgrove?
On the day of completion you do not need to go to the conveyancers office in Birchgrove. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's lawyers, and once they have received this, you will be invited to receive the keys from the Estate Agents and start moving into the property. Usually this occurs between 1 and 3pm.
HSBC have agreed my mortgage in principle, my offer on a property in Birchgrove has been agreed to, what are the next steps?
The property agent will wish to know who your solicitors are (make sure the conveyancing practitioners are on the bank’s panel). Contact HSBC or the financial adviser and complete any outstanding paperwork. HSBC will instruct a valuer who will get in touch with the selling agent or seller to arrange a slot for the valuation to take place. Once carried out (assuming no problems) it takes on average ten days to receive the mortgage offer. HSBC will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Birchgrove.
I have been told that property searches are the number one cause of stalling in Birchgrove house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Birchgrove.
How does conveyancing in Birchgrove differ for new build properties?
Most buyers of new build premises in Birchgrove come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Birchgrove usually buy the real estate, 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 conveyancers 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 Birchgrove or who has acted in the same development.
I decided to have a survey carried out on a property in Birchgrove before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some lenders will not issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Birchgrove. Conveyancing will be smoother if you use a solicitor in Birchgrove especially if they are accustomed to such properties in Birchgrove.