We were just about to exchange contracts for a semi detached house in Totnes. We encountered a stumbling block. The loan offer with Bank of Scotland expires on 26/1/2023 but the owners are insisting on a completion date of 30/1/2023. Is it possible to prolong the loan offer?
The person best placed to address this issue is your conveyancer who is in a position to assess if they should be discussing with the lender, owner’s solicitors, property agents or possibly all three taking into account the circumstances your house move as of today.
Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a ground floor flat in Totnes. Do I receive the keys to the house on the completion date from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in Totnes?
On the day of completion you will not be required to attend the conveyancers office in Totnes. Your solicitors will transfer the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
I am due to move property in December. Will my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you recommend a removal company in Totnes. Conveyancing solicitor was found before I stumbled across this website.
On the afternoon of completion you will need to pick up the house keys from your property agent however this can only be done when the previous owners lawyers confirm to the agent that they have the completion monies and the keys can be passed over. Subsequently you can advise the removal men that they can start moving you in. As a matter of policy we do not recommend a specific removal company but can assist you in finding a conveyancing in Totnes or a legal practice with expertise in conveyancing in Totnes.
My lawyer has informed me that lack of building regulations insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Totnes?
The appropriate level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such insurances.
Just acquired a semi-detached house in Totnes , how long will it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Totnes conveyancing solicitor works at snail pace, so I want to check that my purchase is recorded.
There is nothing unique when it comes to conveyancing in Totnes registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether there are errors and if the Land registry must send notices to any 3rd persons or bodies. As of today approximately 80% of such applications are completed in less than three weeks but some can be subject to longer delays. Historically registration is effected once the buyer has moved in to the premises therefore post completion formalities is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Totnes differ for new build properties?
Most buyers of new build premises in Totnes contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Totnes usually acquire 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 conveyancing solicitors 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 used to new build conveyancing in Totnes 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 last month in what should have been a straight forward, chain free conveyancing. Totnes is the location of the property. What do you suggest?
Flying freeholds in Totnes are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Totnes you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Totnes may ascertain 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.
We're first time buyers - had an offer accepted, but the selling agent informed us that the vendor will only issue a contract if we use the agent's recommended solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a high street solicitor used to conveyancing in Totnes
It is highly unlikely the sellers are driving this. Should the seller want ‘a quick sale', turning down a genuine buyer is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you will continue to instruct your own,trusted Totnes conveyancing lawyers - not the ones that will earn their negotiator at the agency a kickback or achieve conveyancing targets set by head office.