Will my conveyancer be asking questions concerning flooding as part of the conveyancing in Moseley.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Moseley. Plenty of people will purchase a property in Moseley, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a numerous checks that may be undertaken by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Moseley. The standard completed inquiry forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the vendor to discover if the premises has historically flooded. If flooding has previously occurred which is not revealed by the owner, then a purchaser could issue a legal claim for losses stemming from an inaccurate response. A purchaser’s conveyancers will also commission an environmental report. This will higlight whether there is a recorded flood risk. If so, additional investigations should be conducted.
How does conveyancing in Moseley differ for newly converted properties?
Most buyers of new build property in Moseley come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Moseley tend to purchase 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 conveyancing solicitors 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 used to new build conveyancing in Moseley or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Moseley prior to appointing lawyers. I have been told that there is a flying freehold element to the property. My surveyor has said that some lenders will not grant a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Moseley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Moseley to see if the conveyancing costs will increase in light of this.
Am I best advised to go with a Moseley conveyancing solicitor who is local to the property I am purchasing? We have a good friend who can conduct the legal formalities however they are based 400miles drive away.
The benefit of a high street Moseley conveyancing firm is that you can visit the firm to execute documents, deliver your identification documents and pester them where appropriate. Having local Moseley know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were content that must outweigh using an unfamiliar Moseley conveyancing solicitor just because they are Moseley based.
My brother is buying a ground floor flat in Moseley. He has received an estimate by the property lawyer connected to the estate agents and it came to £1250 . It was eight years ago since I sold and bought a house and the fee was £just under five hundred pounds. Have charges really escalated to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Moseley searches, land registry fees, etc)