I am hoping to complete my purchase in Potswood next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not unique to conveyancing in Potswood.
At what point can the exchange of contracts take place for domestic conveyancing in Potswood and do I need to attend the conveyancers office?
If you are round the corner to one of the conveyancing solicitors in Potswood you are invited in to sign contracts. That being said, the firms we recommend offer a national conveyancing service and give as equally comprehensive and professional a job for you when dealing with you digitally. The signing of the contract is not the critical part. Signing on the dotted line simply enables the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Potswood)to be in the office at the appropriate time.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Potswood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Potswood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Can you offer any advice when it comes to finding a Potswood conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Potswood conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with two or three firms including non Potswood conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
What are the charges for lease extension work? How familiar is the practice with lease extension legislation?
Potswood Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
Make sure you find out if the the lease contains any onerous restrictions in the lease. For instance some leases prohibit pets being permitted in certain buildings in Potswood. If you like the propertyin Potswood yet your dog can’t move with you then you will be faced difficult determination. How much is the ground rent and service charge? On the whole the cost for major works are not included within maintenance charges, although a few managing agents in Potswood obliged tenants to pay into a reserve fund created for the specific purpose of establishing a fund for major repairs or maintenance.
What type of premises does your Potswood conveyancing quotes apply to?
The quotes provided are only applicable to standard residential premises in England & Wales. If you have any different requirements for instance industrial or agricultural property or commercial conveyancing in Potswood do telephone us to address this further .