At what point does exchange of contracts happen for residential conveyancing in Otford and do I need to be at the lawyers office?

Where you are round the corner to our conveyancing solicitors in Otford you are invited in to sign documents. That being said, the law practices we recommend supply countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when communicating with you by post or email. The signing of the contract is not the point of no return. A signed contract is necessary for the conveyancer to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Otford)to be in the office at the appropriate time.

My wife and I are purchasing a property in Otford. I might seem paranoid but how we can trust a lawyer? At some point we have to send our life savings into their account. What is the protection we have from them run away with our deposit?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

What is the difference between a licensed conveyancer and conveyancing solicitor in Otford

Two types of professional can execute conveyancing in Otford namely licenced conveyancers or solicitors. Both professionals administer conveyancing services that required to complete the disposal or acquisition of property. Both are duty bound to perform Otford conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be professionally carried out and that the requisite procedures should be appropriately adhered to.

My lawyer has informed me that lack of planning permission insurance is needed on my purchase. What is the level of cover for Otford conveyancing?

The appropriate level of lack of planning permission indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.

The estate agent has sent us the confirmation of our purchase of a new build flat in Otford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Otford

Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

Am I right to be concerned that brokers that I am dealing with are suggesting an internet conveyancing firm rather than a local Otford conveyancing firm?

As with many service providers, often suggestions from relatives can be very helpful. Nevertheless there are lots of parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks may suggest solicitors to retain. Sometimes these conveyancers might be known to one of the organisations as experts in their field, but occasionally there exists a financial incentive behind the endorsement. You are free to select your own conveyancer. You need to be aware that most banks specify a panel list of law firms you must use for the mortgage aspect of your home move.

At last I have had an offer on an apartment in Otford agreed to, the seller does however have an associated purchase. The vendors have submitted an offer on on an apartment, but it’s not yet tied up, and are looking at other flats booked. I have chosen a local conveyancing solicitor in Otford. What should be my next step? At what point should I apply for the mortgage with Barclays?

It is standard to have anxieties where there is an associated chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Otford conveyancing search fees, etc). The first thing to do is check that your conveyancer is on the Barclays approved list. As to the subsequent steps this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. In a rising market many home buyers would apply for a home loan with Barclays and arrange for the survey and only if it was satisfactory would they request their conveyancing practitioner to press on with the conveyancing in Otford.