Various internet forums that I have visited warn that are a common cause of hinderance in Smethwick conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Smethwick.
How does conveyancing in Smethwick differ for newly converted properties?
Most buyers of new build or newly converted property in Smethwick come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Smethwick 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 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 Smethwick or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Smethwick is where the house is located. What do you suggest?
Flying freeholds in Smethwick are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Smethwick you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Smethwick 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 have been recommended by a few property agents in Smethwick to choose a conveyancer on your site. Is there a financial advantage for Estate Agents to offer your lawyers over a competitor’s?
We don’t make any referral fee for sending work in our direction. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I am looking to buy a repression house in Smethwick and the bank selling would like to complete within a week. Do solicitors complete in this timeframe? Would it be better to select a high street Smethwick firm or an online firm that advertises to complete quickly?
Visit your Smethwick shopping parade. Go in to two or three solicitor’s offices and request to talk to a conveyancing solicitor for a quote. Set out your situation and try and obtain assurances on speed. Appoint the firm that comes across as most efficient. You need to select a conveyancer on the panel of property lawyers acceptable to your lender.