Various internet forums that I have come across warn that are the main cause of obstruction in Bishops Lydeard conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Bishops Lydeard.
It has been 2 months since my purchase conveyancing in Bishops Lydeard took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Bishops Lydeard differ for newly converted properties?
Most buyers of new build premises in Bishops Lydeard approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Bishops Lydeard usually acquire 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 Bishops Lydeard or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Bishops Lydeard is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bishops Lydeard 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 Bishops Lydeard you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bishops Lydeard may ascertain 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 premises.
How much should conveyancing in Bishops Lydeard cost?
The amount you are levied for conveyancing in Bishops Lydeard are likely to be calculated at:
- a fixed sum; or
- on a time spent basis (i.e. the time spent on the particular case).
These days very few Bishops Lydeard conveyancing firms charge on time basis