Just acquired a detached house in Fowey , how long should it take for the Land Registry to register the transfer to my name? My Fowey conveyancing solicitor has been painfully slow, so I want to be sure that my purchase is recorded.
There is nothing unique about conveyancing in Fowey registration formalities. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether it is in order and if the Land registry must send notices to any third persons or bodies. As of today approximately three quarters of submission are fully dealt with within two weeks but some can be subject to extensive hold-ups. Historically registration occurs once the buyer has moved in to the premises so an expedited registration is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your solicitor could contact the land registry and explain the circumstances.
How does conveyancing in Fowey differ for new build properties?
Most buyers of new build or newly converted property in Fowey approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because developers in Fowey typically purchase 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 accustomed to new build conveyancing in Fowey or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Fowey is where the house is located. What do you suggest?
Flying freeholds in Fowey 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 Fowey you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fowey 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 residence.
My husband and I are novice buyers - had an offer accepted, yet the agent has warned us that the seller will only proceed if we use their recommended lawyers as they need a ‘quick sale’. Our preferred option is to instruct a family conveyancer accustomed to conveyancing in Fowey
We suspect that the seller is not behind this request. Should the owner require ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Avoid the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your own,trusted Fowey conveyancing solicitors - not the ones that will provide their negotiator at the agency a commission or achieve conveyancing thresholds demanded by corporate headquarters.
Why do Fowey conveyancing charges are more expensive for leasehold and freehold properties?
If acquiring a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control