I am need of leasehold conveyancing for a flat in a fairly new development (seven years built) in Chadwell St Mary. The vast majority the flats have already been disposed of. Do I need carry out the conveyancing searches for my conveyancing in Chadwell St Mary?
If you are acquiring a property with the assistance of a loan, your bank will need some (many) of the searches so you'll have no choice. If not, then Chadwell St Mary conveyancing searches are optional. Your solicitor, will 'advise', perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Chadwell St Mary.
The Chadwell St Mary conveyancing solicitors that I recently instructed on my purchase in Chadwell St Mary have suddenly shut down. I only went with them because I had to have a solicitor on the Lloyds conveyancing panel and my previous Chadwell St Mary lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
A colleague pointed out to me me that in purchasing a property in Chadwell St Mary there may be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are anumerous of properties in Chadwell St Mary which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Chadwell St Mary should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Chadwell St Mary solicitor on the Coventry BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Chadwell St Mary. I have a mortgage agreed with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
Should my lawyer be making enquiries concerning flooding during the conveyancing in Chadwell St Mary.
Flooding is a growing risk for lawyers dealing with homes in Chadwell St Mary. There are those who buy a property in Chadwell St Mary, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, but there are a various checks that may be undertaken by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Chadwell St Mary. The conventional set of completed inquiry forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the seller to determine if the property has ever been flooded. If the residence has been flooded in past and is not disclosed by the owner, then a purchaser may issue a legal claim for losses as a result of such an misleading answer. A buyer’s solicitors may also commission an enviro report. This should higlight if there is any known flood risk. If so, further investigations should be carried out.
How does conveyancing in Chadwell St Mary differ for newly converted properties?
Most buyers of new build or newly converted property in Chadwell St Mary approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Chadwell St Mary typically acquire 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 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 accustomed to new build conveyancing in Chadwell St Mary or who has acted in the same development.