I am buying a house without a mortgage in Forest Hill. I have lived for the last Seventeen years in Forest Hill. Conveyancing searches are a lot of money. Given that I have knowledge of the road and vicinity very well must I have all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the Forest Hill conveyancing searches are optional. Your conveyancer will 'advise', perhaps strongly, that you should have searches completed, but she is duty bound to do this. Do bear in mind; if you are likely to dispose of the house at a future date, it could be of importance to your prospective buyer what the searches contain. There are plenty of instances where properties with day to day issues can still reveal detrimental search results. A good conveyancing solicitor in Forest Hill will be able to give you some sensible guidance here.
Having sold my house in Forest Hill last December yet the purchaser is SMS messaging daily complaining that their lawyer needs to hear from mine. What should my lawyer have done now that I have sold?
Post completion of your disposal your lawyer is duty bound to send the transfer documentation and all additional paperwork to the buyer’s conveyancer. If applicable, your lawyer must also send confirmation that the home loan has been redeemed to the purchasers lawyers. There are no post completion formalities specific conveyancing in Forest Hill.
I am selling my home in Forest Hill. Does the solicitor need to be required to be on the Nottingham conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
This question may be naive but I am new to the house moving as a 1st time buyer of a ground floor flat in Forest Hill. Do I pick up the keys to the premises on completion from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in Forest Hill?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's conveyancers, and once they have received this, you should be able to receive the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
I happen to be the only recipient of my late grandmother’s will and I have everything in my name alone, including the house in Forest Hill. The Forest Hill property was put into my name in August. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the property in August. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How practical a view mortgage companies take of it, depend on the bank as this provision is principally there to capture the purchase and immediately sell or the quick reselling of property.
is it true that all Forest Hill solicitor firms on the Co-operative conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Co-operative approved list of solicitors they would need to be governed by the SRA. The majority of banks do permit licenced conveyancers on their panel and in that case the practice would be governed by the CLC.
three months have gone by since my purchase conveyancing in Forest Hill concluded. I have checked the Land Registry site which shows that I paid £200,000 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 residence 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.
How does conveyancing in Forest Hill differ for new build properties?
Most buyers of new build property in Forest Hill approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Forest Hill usually 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 conveyancing solicitors 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 Forest Hill or who has acted in the same development.