We are due to exchange on the purchase of a house in Tilbury but as a result of damage from the recent storms I have was able negotiate recompense from the current proprietors of £2k taking the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process however Nationwide will not permit this. Why were they notified?
Any conveyancing practitioner that is on a Nationwide conveyancing panel is obliged to inform Nationwide of any variations to the sale price. If you were to refuse your conveyancer to disclose the price change to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new conveyancing practitioner for your conveyancing in Tilbury.
Why do I have to pay up front for conveyancing in Tilbury?
Where you are retaining lawyers for conveyancing in Tilbury your lawyer will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the sale price then this should be needed shortly ahead of contracts are exchanged. The closing balance that is due should be transferred shortly before completion.
What does a local search tell me regarding the property I am buying in Tilbury?
Tilbury conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance Xpress Legal The local search is essential in every Tilbury conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Are there restrictive covenants that are commonly identified as part of conveyancing in Tilbury?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Tilbury. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Tilbury differ for newly converted properties?
Most buyers of new build residence in Tilbury approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Tilbury 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 property lawyers 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 Tilbury or who has acted in the same development.