My wife and I have lately bought a property in Looe. We have since encountered a number of problems with the house which we believe were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been conducted for conveyancing in Looe?
The question is vague as to the nature of the problems and if they are specific to conveyancing in Looe. Conveyancing searches and investigations initiated during the legal transfer of property are designed to help avoid problems. As part of the process, a property owner fills in a form referred to as a SPIF. answers ends up being inaccurate, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Looe.
My Solicitor in Looe is not listed on the Platform Home Loans Ltd Solicitor Panel. Can I still continue with my prefered solicitor notwithstanding that they are not on the Platform Home Loans Ltd panel?
Your options are as follows:
- Complete the purchase with your preferred Looe lawyers but Platform Home Loans Ltd will need to use a lawyer on their list of acceptable firms. This will result in additional total conveyancing fees and cause frustration.
- Find an alternative solicitor to act in the purchase, obviously checking they are Platform Home Loans Ltd approved.
- Persuade your Platform Home Loans Ltd based solicitor to seek to join the Platform Home Loans Ltd panel
Will my lawyer be raising questions concerning flooding during the conveyancing in Looe.
The risk of flooding is if increasing concern for lawyers dealing with homes in Looe. Plenty of people will buy a house in Looe, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a number of searches that can be carried out by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Looe. The standard information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the seller to discover if the premises has ever been flooded. If flooding has previously occurred which is not revealed by the vendor, then a purchaser could issue a compensation claim resulting from an inaccurate answer. The buyer’s lawyers should also conduct an environmental search. This will disclose if there is any known flood risk. If so, additional inquiries will need to be conducted.
How does conveyancing in Looe differ for newly converted properties?
Most buyers of new build property in Looe contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Looe usually acquire the site, 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 Looe or who has acted in the same development.
Should I choose a Looe conveyancing lawyer in close proximity to the house I am buying? We have a good friend who can perform the legal formalities however his firm is located approximately 350kilometers drive away.
The benefit of a local Looe conveyancing firm is that you can visit the firm to sign paperwork, present your identification documents and pester them if necessary. They will also have local insight which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were impressed that must trump using an unfamiliar Looe conveyancing solicitor solely due to them being Looe based.
I have today had an offer accepted on a leasehold flat in Looe and the broker that we are using suggested his solicitor. She quoted a thousand pounds plus VAT and 3rd party costs. Does this sound reasonable?
Don't just go on one quote. You should obtain like-for-like quotes for your conveyancing in Looe. Then select one that you trust and crucially, is on the approved list of the lender that you have applied for a mortgage from.