I am soon to exchange on the purchase of a property in Coulsdon but as a consequence of wreckage from the recent storms I have was able negotiate compensation from the current proprietors in the sum of three thousand pounds in the form of a reduction in the price. I had intended this to be addressed as part of a side agreement yet Kent Reliance are not allowing this. Why were they informed?
The conveyancer being on a Kent Reliance conveyancing panel is duty bound to inform Kent Reliance of any variations to the sale price. If you prohibit your solicitor to disclose the reduction to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new solicitor for your conveyancing in Coulsdon.
When will exchange of contracts happen for residential conveyancing in Coulsdon and am I required to be at the conveyancers branch?
If you are near to one of the conveyancing solicitors in Coulsdon you are invited in to sign documents. That being said, the law practices we recommend offer a nationwide conveyancing service and give as equally detailed and professional a job for you when communicating with you digitally. The signing of the purchase agreement is not the point of no return. Signing on the dotted line is just a prerequisite for the solicitor to officially exchange at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Coulsdon)to be in the office at the appropriate time.
We're in Coulsdon, FTBs buying with a mortgage (lender is Co-operative , and our solicitor is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I purchased a terraced Victorian house in Coulsdon. Conveyancing solicitor acted for me and Coventry Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for 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 Coulsdon and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing practitioner who conducted the purchase.
Should I be suspicious about third parties that I am dealing with are suggesting an internet conveyancing firm rather than a High Street Coulsdon conveyancing practice?
As is the case with lots of service providers, often suggestions from family and friends can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all put forward conveyancers to choose. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there exists a financial incentive behind the endorsement. You are free to choose your own lawyer. However, bear in mind that some mortgage providers specify a panel list of solicitors you have to use for the mortgage related work in your home move.
I am just shy of a 10% deposit on my apartment purchase in Coulsdon , but I still want to exchange. Do I have options?
You can agree a lesser deposit. Most property owners will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second