What is the first thing I need to know regarding purchase conveyancing in Topsham?
Not many law firms shout this from the rooftops but conveyancing in Topsham and elsewhere in Devon is an adversarial process. In other words, when it comes to conveyancing there exists lots of room for friction between you and other parties involved in the transaction. E.g., the seller, estate agent and even potentially a mortgage company. Choosing a solicitor for your conveyancing in Topsham an important selection as your conveyancer is your adviser, and is the SOLE person in the legal process whose responsibility is to look after your legal interests and to keep you safe.
Every so often a potential adversary will attempt to convince you that it is in your interests to do things their way. For instance, the property agent may claim to be helping by claiming that your solicitor is wrong. Or your financial adviser may try to convince you to do something that is contrary to your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Should our conveyancer be raising enquiries concerning flooding during the conveyancing in Topsham.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Topsham. There are those who acquire a property in Topsham, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a numerous searches that can be undertaken by the purchaser or by their lawyers which will give them a better understanding of the risks in Topsham. The standard completed inquiry forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to determine if the property has suffered from flooding. In the event that the property has been flooded in past and is not revealed by the seller, then a buyer could commence a legal claim for losses stemming from an inaccurate response. The purchaser’s conveyancers may also commission an environmental report. This should higlight whether there is a recorded flood risk. If so, additional investigations should be conducted.
Due to the guidance of my in-laws I had a survey completed on a house in Topsham prior to instructing lawyers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies tend refuse to grant a loan on this type of property.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Topsham. Conveyancing will be smoother if you use a solicitor in Topsham especially if they are familiar with such properties in Topsham.
My cousin has suggested that I appoint his conveyancing solicitors in Topsham. Should I choose my own property lawyer?
There are no two ways about it the ideal way to choose a conveyancing solicitor is to have referrals from friends or family who have experience in using the firm that you are contemplating using.
Having had my offer accepted I require leasehold conveyancing in Topsham. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Topsham - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Topsham - A selection of Queries before buying
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This information is useful as a) areas could cause problems for the block as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the managing agents you will want to know about it How much is the yearly maintenance fee and ground rent? If a Topsham lease has less than eighty years it will have adverse implications on the marketability of the property. Check with your bank that they are content with remaining years on the lease. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth discovering what this will be. Remember, in most cases you would need to own the property for two years in order to be entitled to extend the lease.
The estate agent has suggested using their solicitor for our conveyancing in Topsham - Is it not simpler advisable to just instruct them?
It is worth checking if the estate agent is recommending a conveyancing practitioner or introducing to a conveyancing practitioner. There are plenty of Topsham estate agents who recommend two or three Topsham conveyancing firms and get nothing from it.