At what point will exchange of contracts happen for residential conveyancing in Potton and am I required to attend the conveyancers branch?
Where you are in close proximity to our conveyancing solicitors in Potton you are welcome to attend to sign contracts. That being said, the law practices we recommend supply a nationwide conveyancing service and provide as equally diligent and professional a job for you when dealing with you digitally. The signing of the contract is not the point of no return. A signed contract is necessary for the firm to officially exchange at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Potton)to be in the office available at the end of the phone to exchange contracts.
There is lots of information on this site regarding conveyancing in Potton but what is your top tip for appointing the right conveyancer in Potton
Do not opt for the lowest Potton conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am the sole beneficiary of my late mum's will and I have everything in my name alone, including the house in Potton. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the house. I do know about the CML 6 month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the property in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How practical a view banks take of it, depend on the bank as this clause primarily exists to identify the purchase and immediately sell or the flipping of property.
Is it the case that all Potton conveyancing solicitors on the RBS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the RBS approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do allow licenced conveyancers on their panel and in that case the organisation would be governed by the CLC.
How does conveyancing in Potton differ for new build properties?
Most buyers of new build property in Potton approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is constructed. This is because house builders in Potton usually 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 conveyancers 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 Potton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Potton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Potton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Potton you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Potton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I purchased a flat in Potton last 12/12/2017 and to date it is still not recorded with the Land Registry. It is part of a development site and my solicitor told me that it may take 12 months to register. I have contacted HMLR directly and they have informed me the initial application was cancelled due to questions not being addressed in time. Do I need to be concerned?
Contact your conveyancer - if you are not getting sensible responses, find out about their firm’s complaints procedure and escalate your problem to a Complaints Manager. Registrations for Potton conveyancing are not known to be especially complex.