My nephew is buying a house that has just been built in Wem with a mortgage from Aldermore. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Aldermore conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My partner and I are selling our property in Wem and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Wem lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used a web based conveyancing practice rather than a conveyancing solicitor in Wem. Having lived in Wem for 4 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing firm already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I acquired my flat on 2 August and my personal details are still not registered. Should I be concerned? My conveyancing solicitor in Wem advises it will be recorded in less than a month. Are transfers in Wem particularly slow to register?
There is nothing unique about conveyancing in Wem registration formalities. Rather than based on location, timescales can vary depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any other parties. As of today in the region of three quarters of submission are fully dealt with in less than three weeks but some can be subject to longer delays. Registration occurs after the buyer has moved in to the property so 'speed' is not always primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers must speak with the land registry and explain the circumstances.
How does conveyancing in Wem differ for new build properties?
Most buyers of new build property in Wem come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Wem typically acquire 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 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 Wem or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Wem is the location of the property. Can you shed any light on this issue?
Flying freeholds in Wem are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wem you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wem may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I need to appoint a conveyancing solicitor for my conveyancing in Wem. I have chance upon a web site which seems to have the perfect solution If there is a chance to get all this stuff completed via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?