I just bought a house at auction in Redruth. Conveyancing is necessary. What are my next steps?
Given that you are now exchanged you now have to retain a conveyancing lawyer soon as you are facing a fast approaching a fixed date to complete the deal. An auction property should have a bespoke legal set of papers. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You must hand this to the solicitor instructed by you at the earliest opportunity. Do make sure that your finances are in place to complete the transaction on the set completion date.
When it comes to lenders such as Virgin Money, do Redruth solicitors incur a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I have paid off my mortgage with Skipton. I assume I don't need a Redruth conveyancer on the Skipton panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
I have todaybeen informed that Wolstenholmes have closed. They conducted my conveyancing in Redruth for a purchase of a freehold house 12 months ago. How can I establish that the property is in my name in the name of the former proprietor?
The easiest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Redruth conveyancing specialists.
How does conveyancing in Redruth differ for new build properties?
Most buyers of new build premises in Redruth come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Redruth tend to 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 Redruth or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Redruth is the location of the property. Can you offer any guidance?
Flying freeholds in Redruth are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Redruth you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Redruth may decide 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 residence.
I would be grateful if you could clarify what my options are if my Redruth conveyancing searches reveals negative results?
On the whole, the majority of adverse entries that arise in Redruth conveyancing search results can be handled in advance of completion or title insurance could possibly be put in place. You should note that regardless of the fact that you intend on acquiring the property and might be willing to live with the search results, your building society or bank may not, and ultimately they have the final say.