I am buying a property without a mortgage in The Park. I have resided for the last twelve years in The Park. Conveyancing searches are expensive. Given that I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then the vast majority of the The Park conveyancing searches are at your discretion. Your conveyancer will 'advise', no-doubt strongly, that you should have searches done, but he has a professional duty to do this. One thing to consider; if you are likely to sell the house one day, it will likely be be of importance to your future purchaser what the searches disclose. On occasion properties with no practical issues can still reveal negative search results. A competent conveyancing solicitor in The Park should provide you some sensible guidance concerning this.
Please explain the implications if my solicitor is suspended from the TSB Conveyancing panel ahead of completing my conveyancing in The Park?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
3 months have elapsed following my purchase conveyancing in The Park took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 asset 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 The Park differ for newly converted properties?
Most buyers of new build residence in The Park come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in The Park usually purchase 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 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 The Park or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. The Park is where the house is located. What do you suggest?
Flying freeholds in The Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside The Park you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in The Park 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 residence.
Given that I am about to part with 450k on a house in The Park I would like to talk to a solicitor about myhouse move prior to instructing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer who will be carrying out your property ownership legalities in The Park.There is no ‘factory style conveyancing’ - each client is an important person, not a matter reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in The Park should be the figure that you are charged.