I was recommended to a lawyer who has given a fee calculation of £1150 for no sale no fee conveyancing in Wem. I’m looking to sell a purpose built detached home for £250,000. Is this over the top? Is it in excess of what I should be paying for conveyancing in Wem?
The charges are a tad high. Where you are content to expend time scrutinising prices you might decrease the fees marginally by as much as a hundred pounds. On the other hand, you maylive to rue choosing an an untested lawyer. Don't forget to check the firm can represent your lender. Do utilise our search tool to get a quote a Wem conveyancing firm on the lender’s approved list of lawyers which can often include conveyancing solicitors in Wem.
In the event thatI were to purchase a simple residential homein Wem mortgage fee and have no survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Wem?
Any savings you would make would be isolated to the costs for searches. A solicitor is required to do the vast majority of work - money laundering, liaising with your sellers lawyer, stamp duty return, register the ownership etc. A marginal saving might be made by not having to register a charge however it will not be significant.
In what way does my ID and proof of funds have anything to do with my conveyancing in Wem? Is this really necessary?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Wem. However these days you can not complete any conveyancing process without first handing over evidence of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are providing your driving licence as evidence of identification it needs to be both the paper part as well as the photo card part, one is not satisfactory in the absence of the other.
Evidence of the source of monies is required under Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancer must have this information on record. Your Wem conveyancing solicitor will require evidence of proof of funds prior to accepting any money from you into their client account and they may also ask further questions regarding the origin of monies.
I know that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when buying a residence in Wem? or I am told that there is a law dating back centuries that could mean that house owners living in a parish church boundary may be liable to pay for maintenance towards the chancel in proximity to the church. Is this applicable for conveyancing in Wem?
Unless a prior purchase of the premises completed post 12 October 2013 you can assume that conveyancing practitioners handling conveyancing in Wem to continue to advocate a chancel search and or insurance against a claim.
We have AIP from Bank of Ireland who indicated we could borrow up to £117k. At what point do I need to appoint a solicitor for conveyancing? Wem is where we are purchasing.
It would be wise to appoint a lawyer now requesting that they open a file for you. This will facilitate: 1) the selling agent to issue a Sales Memorandum to all parties 2) the seller’s conveyancing practitioner to send out the draft contract. However, do not instruct your solicitor to order searches until you have your valuation report from Bank of Ireland and you are willing to move forward.