My fiance and I are planning to buy a home in Redfield and are in fact using a Redfield conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Ireland have this evening contacted us to advise us that there is now an issue as our Redfield solicitor is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Redfield solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are due to move home in April. Does my conveyancing solicitor update the removal company on the completion day. Incidentally, can you recommend a removal company in Redfield. Conveyancing firm was organised before I stumbled across your website.
On the day of completion you can collect the keys from the selling agent but this can only happen when the previous owners lawyers confirm to the agent that the monies to complete are in and the keys can be passed over. Subsequently you will need to inform the removal company that you are ready to move in. We do not recommend a particular removal company but can help you find a conveyancing in Redfield or a lawyer with expertise in conveyancing in Redfield.
We had appointed conveyancers based in Redfield on the Virgin Money solicitor panel. They are now charging me a further amount for dealing with the Virgin Money mortgage. Is this an additional conveyancing fee set by Virgin Money?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your conveyancing practitioner may levy a fee for this. The fee is not set by Virgin Money but by your Redfield lawyer. Some firms on the Virgin Money panel will quote an ‘acting for lender’ fee but many firms include it on their overall fee.
After shopping around on the internet I have found a Redfield property lawyer having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Redfield surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will our solicitor be raising questions about flooding as part of the conveyancing in Redfield.
Flooding is a growing risk for lawyers dealing with homes in Redfield. Plenty of people will purchase a property in Redfield, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, but there are a number of searches that may be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Redfield. The standard completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to find out whether the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the owner, then a buyer could bring a legal claim for losses stemming from an incorrect response. The buyer’s conveyancers may also commission an enviro report. This should disclose whether there is any known flood risk. If so, further inquiries will need to be initiated.
How does conveyancing in Redfield differ for newly converted properties?
Most buyers of new build property in Redfield approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Redfield typically purchase the real estate, 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 Redfield or who has acted in the same development.
We're new to the buying process - had an offer accepted, yet the selling agent has warned us that the seller will only move forward if we instruct the agent's chosen lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer who is accustomed to conveyancing in Redfield
We suspect that the owner is unaware of this ultimatum. Should the owner want ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your preferred Redfield conveyancing lawyers - rather thanthe ones that will give the negotiator at the agency a commission or meet his conveyancing thresholds demanded by senior management.