Should my conveyancer be raising questions regarding flooding as part of the conveyancing in Penkridge.
Flooding is a growing risk for solicitors dealing with homes in Penkridge. There are those who buy a property in Penkridge, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, but there are a number of searches that may be undertaken by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Penkridge. The conventional set of information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to discover whether the property has historically flooded. In the event that flooding has previously occurred which is not revealed by the seller, then a buyer could issue a compensation claim stemming from an inaccurate answer. The buyer’s solicitors will also commission an environmental search. This will higlight if there is a recorded flood risk. If so, further inquiries should be carried out.
How does conveyancing in Penkridge differ for newly converted properties?
Most buyers of new build or newly converted property in Penkridge approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Penkridge tend to buy the land, 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 property lawyers 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 Penkridge or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Penkridge is where the house is located. What do you suggest?
Flying freeholds in Penkridge are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Penkridge you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penkridge may determine 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 premises.
Should I be concerned by 3rd parties that I am dealing with are suggesting a web based conveyancing firm rather than a High Street Penkridge conveyancing practice?
As is the case with lots of professional services, often referrals from family and friends can be worth their weight in gold. But there are many players in a conveyancing deal; estate agents, financial adviser and lenders may recommend conveyancers to retain. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You have the right to select your own conveyancer. You need to be aware that some lenders specify a panel list of law firms you must use for the lender related work in your house move.
My step-father has encouraged me to instruct his conveyancers in Penkridge. Should I find my own solicitor?
There are no two ways about it the best way to select a conveyancing lawyer is to seek recommendations from friends or family who have actually experience in using the solicitor you're contemplating using.
Developers have put forward a conveyancer and I've received a quote from them. They are almost £250 less expensive than my local Penkridge lawyer. Should I use them?
Housebuilders normally have lists of conveyancing practitioners who are quick and who know the developer’s paperwork and property lawyer. As many developers offer an inducement to select a preferred property lawyer for this reason, any increased charges can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the conveyancing stall when they demand an exchange inside a month. A counter-argument for not agreeing to use the recommended property lawyer is that they may prove reluctant to fight for your interests at the risk of upsetting the sellers. Where you have concerns that this may be the case you should stick with your high street Penkridge property lawyer.