Why do I have to pay up front for conveyancing in Chipstead?
If you are buying a property in Chipstead your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the purchase price then this should be needed immediately in advance of exchange of contracts. The closing balance that is needed should be transferred shortly before completion.
I am thinking of remortgaging my flat in Chipstead, does my lawyer need to be on the Co-operative Solicitor panel?
There is nothing to stop you using your solicitor, but Co-operative will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My bid for a property was accepted at auction in Chipstead. Conveyancing is necessary. What are my next steps?
Given that you have now to all intents and purposes signed on the dotted line you should instruct a conveyancing practitioner as a matter of urgency as you are facing a tight a drop dead date to complete the transaction. Every auction property will have a bespoke legal set of papers. This should include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent 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 in place to complete on the on the contractual date .
This question may be naive but I am new to the home buying as a 1st time purchaser of a garden flat in Chipstead. Do I pick up the keys to the premises on completion from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in Chipstead?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be called to receive the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
We expect to receive a DIP from HSBC this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do HSBC recommend any Chipstead solicitors on the HSBC conveyancing panel, or is it better to go independently?
You will need to appoint Chipstead solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Chipstead?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Chipstead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Chipstead differ for newly converted properties?
Most buyers of new build residence in Chipstead come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Chipstead usually 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 property lawyers 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 Chipstead or who has acted in the same development.