The Rottingdean conveyancing firm handling our Rottingdean conveyancing has identified an inconsistency when comparing the information in the valuation report and what is in the conveyancing documents. My lawyer informs me that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action right?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
At what point can the exchange of contracts happen for residential conveyancing in Rottingdean and am I required to be at the conveyancers office?
If you are round the corner to our conveyancing solicitors in Rottingdean you are welcome to come in to sign the paperwork. That being said, the law practices we recommend offer a countrywide conveyancing service and give just as detailed and professional a job for you when communicating with you electronically. The signing of the property agreement is not the important part. A signed contract is necessary for the firm to exchange contracts at the suitable time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Rottingdean)to be in the office available at the end of the phone to exchange contracts.
Will commercial conveyancing searches reveal impending roadworks that could affect a commercial premises in Rottingdean?
Its becoming the norm that commercial conveyancing solicitors in Rottingdean will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Rottingdean. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Rottingdean.
For each commercial conveyancing transaction in Rottingdean it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Rottingdean commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Rottingdean.
How does conveyancing in Rottingdean differ for new build properties?
Most buyers of new build or newly converted property in Rottingdean contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Rottingdean tend to 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 Rottingdean or who has acted in the same development.
I am thinking of appointing a conveyancing practitioner in Rottingdean for my sale. Can I review a firm’s record with the legal regulator?
You may search for documented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator could monitor call for training purposes.
I've recently bought a leasehold flat in Rottingdean. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Rottingdean - Sample of Questions you should ask Prior to buying
It is important to be aware if window replacement or some other significant cost is due in the near future that will be shared between the tenants and will dramatically impact the level of the service fees or require a specific invoice. Is there a share of the freehold? How many of the leaseholders are in arrears for their maintenance charge payments?