This question may be naive but I am wet behind the ears as FTB of a garden flat in Potswood. Do I collect the keys to the property on the completion date from my solicitor? If so, I will instruct a High Street conveyancing solicitor in Potswood?
On the day of completion you will not be required to attend the conveyancers office in Potswood. Your solicitors will transfer the completion advance to the seller's lawyers, and once they have received this, you will be able to pick up the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
A colleague informed me that in purchasing a property in Potswood there could be a number of restrictions preventing external alterations to a property. Is this right?
There are anumerous of properties in Potswood which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Potswood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Potswood building society branch on various occasions and was told they are content with the situation and they will lend. My Potswood conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their specific requirements. I simply don't know who is right.
Your lawyer has to comply with the CML Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Potswood differ for new build properties?
Most buyers of new build premises in Potswood come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Potswood typically buy the land, 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 accustomed to new build conveyancing in Potswood or who has acted in the same development.
I am downsizing from my home. My former conveyancers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Potswood if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Potswood. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
We're first time buyers - had an offer accepted, yet the agent informed us that the seller will only go ahead if we instruct the agent's chosen lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer who is accustomed to conveyancing in Potswood
It is unlikely the sellers are driving this. If they desire ‘a quick sale', taking such a hostile approach to a serious purchaser is going to damage their objectives. Contact the vendors directly and make the point that (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to appoint your preferred Potswood conveyancing firm - not the ones that will give the negotiator at the agency a kickback or achieve conveyancing figures pre-set by senior management.
My solicitors in Potswood have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.