My wife and I are hoping to buy a flat in Crofton and have appointed a Crofton conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. The Royal Bank of Scotland have this evening contacted us to advise us that there is now an issue as our Crofton solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Crofton solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
In the event thatI was to acquire a straightforward propertyin Crofton for cash and have no survey and no local authority searches how much should I expect to have to pay for conveyancing in Crofton?
The sole saving you would achieve is the costs for searches. Your property lawyer still got to do everything else - money laundering, liaising with the vendors lawyer, stamp duty submission, register the title etc. A marginal saving might be made by not needing to register a mortgage but it won't be significant.
Having sold my house in Crofton last February but my buyer keeps calling every few hours to say their solicitor is waiting to hear from mine. What should my lawyer have done now that I have sold?
Post completion of your sale your solicitor is obliged to forward the transfer deeds and all of the paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor must also send confirmation that the mortgage has been discharged to the buyers conveyancers. There is unlikely to be post completion steps specific conveyancing in Crofton.
I have justdiscovered that Arc property Solicitors have closed. They conducted my conveyancing in Crofton for a purchase of a leasehold flat 10 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Crofton conveyancing specialists.
What can I expect to pay for conveyancing in Crofton?
The amount you are levied for Crofton conveyancing fees will differ significantly from solicitor to solicitor. Given these differences it all the more important that you find this out before you instruct a solicitor. You should also consider asking three or four like for like quotes.