Is it realistic for conveyancing in Summerhill to be completed within two weeks?
Where the seller is applying a tight deadline to exchange it is highly recommended that your lawyer is familiar with the area as they will have local connections and intelligence. It is even conceivable that they may have transacted otherproperties in the same neighbourhood. Therefore consider using a Summerhill conveyancing firm. Second, check that the conveyancing firm is on the member panel. It is claimed that 18% of Summerhill conveyancing deals are suspended or jeopardised after finding out that a buyer’s lawyer was not on their mortgage lender’s member panel. This can often result in the buying process being frustrated by an average of 21 days. It is understood that this issue affects in the region of 100,000 home sales annually. Most Summerhill conveyancing firms can not represent certain banks so do check at the outset.
4 months have elapsed since my purchase conveyancing in Summerhill completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Summerhill differ for new build properties?
Most buyers of new build or newly converted property in Summerhill come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Summerhill typically acquire 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 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 Summerhill or who has acted in the same development.
What does commercial conveyancing in Summerhill cover?
Summerhill conveyancing for business premises covers a broad range of guidance, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I am short of a 10% deposit on my apartment purchase in Summerhill , but I am keen go ahead. Do I have options?
One option is to try and agree a smaller deposit. Most property owners will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute