My partner and I are buying our first home. Our property lawyer has e-mailedto see if we would like to take out extra conveyancing searches. We are really unsure what's necessary for conveyancing in Molesey
The scope of Molesey conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your familiarity of the locality and risks, your overall attitude to risk. What is important is that you properly appreciate what information the searches could give you. You may then decide if you consider that you need that information. If in doubt, ask your conveyancing practitioner to guide you.
I have been told that property searches are the primary reason for delay in Molesey conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Molesey.
I am buying my first flat in Molesey benefiting from help to buy. The developers would not reduce the amount so I negotiated £7000 of extras instead. The sale representative told me not to tell my conveyancer about this extras as it could impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I was pointed in your direction by numerous selling agents in Molesey to find a conveyancer on your site. What’s the financial incentive for Estate Agents to recommend your lawyers rather than a competitor’s?
We don’t offer any commission for sending work in our direction. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are novice buyers - had an offer accepted, yet the selling agent advised that the owners will only issue a contract if we appoint their chosen lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a local conveyancer accustomed to conveyancing in Molesey
It is improbable the owners are behind this. If they desire ‘a quick sale', alienating a serious purchaser is counter productive. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you will continue to instruct your preferred Molesey conveyancing solicitors - not the ones that will earn their negotiator at the agency a commission or meet his conveyancing thresholds demanded by HQ.