We are soon to complete buying a property in Stilton but as a result of damage from a small fire at the property I have was able negotiate recompense from the owner of £3k in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process yet RBS will not agree to this. Should they have been informed?
Any property lawyer that is on the RBS conveyancing panel is required to disclose to RBS of any amendments to the purchase price. If you prohibit your lawyer to notify the reduction to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new conveyancer for your conveyancing in Stilton.
Can you explain why leasehold purchase conveyancing in Stilton costs more?
In short, leasehold conveyancing in Stilton and elsewhere usually warrants more work compared to freehold transactions. This includes lease investigation, corresponding with the landlord about serving required notices, securing current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
I have been told that property searches are the number one reason for obstruction in Stilton house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Stilton.
I have a renovated Georgian house in Stilton. Conveyancing practitioner acted for me and Nottingham Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stilton and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing practitioner who conducted the work.
Am I right to be concerned that third parties that I am dealing with are recommending a web based conveyancing firm rather than a High Street Stilton conveyancing company?
As is the case with lots of service providers, often suggestions from family and friends can be most helpful. Nevertheless there are lots of parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all put forward lawyers to use. On occasion these solicitors might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the endorsement. You are free to select your own conveyancer. However, bear in mind that many banks operate an approved list of lawyers you have to use for the mortgage aspect of your transaction.
In sourcing the web for the term on line conveyancing in Stilton it brings up numerous conveyancersin the area. How do I determine which is the right property lawyer for the sale of my house?
The ideal way of choosing a suitable conveyancer is through a trusted referral, so ask colleagues and family who have bought a property in Stilton or the respected estate agent or mortgage broker. Costs for conveyancing in Stilton vary, so it's a good idea to request a minimum of four fee estimates from different solicitors. Dont forget to clarify what costs in the quote includes.