My wife and I are due to exchange buying a house in Burnham On Crouch but as a result of damage from a small fire at the property I have managed to agree compensation from the seller in the sum of six thousand pounds by way of a deduction in the price. I had intended this to be addressed as part of amending the contract yet Co-operative will not agree to this. Should they have been involved?
The property lawyer being on the Co-operative approved list is obliged to inform Co-operative of any amendments to the purchase price. If you prohibit your lawyer to notify the reduction to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new conveyancer for your conveyancing in Burnham On Crouch.
Do lawyers request money on account for my conveyancing in Burnham On Crouch?
If you are buying a property in Burnham On Crouch your solicitor will ask you place them with funds to cover the search fees. Normally this is needed to cover the fees of the conveyancing searches. If any deposit is as part of the sale price then this should be asked for immediately prior to exchange of contracts. The closing balance that is due will be payable a couple of days ahead of the day of completion.
Is it necessary to pay for insurance to address the risk of chancel repairs when acquiring a house in Burnham On Crouch?
Unless a prior acquisition of the house completed after 12 October 2013 you can assume that lawyers conducting conveyancing in Burnham On Crouch to continue to propose a a chancel search and or chancel repair liability insurance.
It has been 2 months since my purchase conveyancing in Burnham On Crouch took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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.
I am buying my first flat in Burnham On Crouch benefiting from help to buy. The sellers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not to tell my lawyer about this side-deal as it will put at risk my loan with HSBC Bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Should I choose a Burnham On Crouch conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can execute the legal formalities but his firm is located 300miles drive away.
The primary upside of using a local Burnham On Crouch conveyancing firm is that you can drop in to sign paperwork, hand in your ID and apply pressure on them where appropriate. They will also have local insight which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and in the main were happy that must outweigh using an unfamiliar Burnham On Crouch conveyancing solicitor solely due to them being based in the area.