Finally the sale completed on my house in Bradley Stoke last April but my buyer keeps texting every few hours to moan that their solicitor needs to hear from mylawyer. What are the post completion sale legalities following completion?
Post completion of your disposal your lawyer is obliged to send the transfer deeds and all supplemental paperwork to the buyer’s lawyers. If applicable, your solicitor should also evidence that the home loan has been redeemed to the purchasers lawyers. There are no post completion tasks specific conveyancing in Bradley Stoke.
Having invested time reading online forums for an online solicitor in Bradley Stoke, many post that I should look for a CQS accredited solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's major banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). The scheme does not cover licenced conveyancers. Bradley Stoke is one of the many areas in England and Wales where there are Accredited solicitors.
How does conveyancing in Bradley Stoke differ for new build properties?
Most buyers of new build premises in Bradley Stoke contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because builders in Bradley Stoke typically buy the land, 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 Bradley Stoke or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Bradley Stoke is the location of the property. Can you offer any opinion?
Flying freeholds in Bradley Stoke are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bradley Stoke you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bradley Stoke 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 premises.
My husband and I accepted an offer on a Bradley Stoke flat we inherited ten years ago in 2012. I have over a decades worth of conveyancing knowledge and, although retired, intend to undertake my own legal work. The purchaser's conveyancing practitioner has informed me that their mortgage company will not allow us to do our own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Lending instructions to lawyers from all mainstream lenders state that If the seller does not have legal representation the purchaser’s lawyers should check whether the mortgage company needs to be informed so that a decision can be made as to whether or not they are willing to move forward.