As someone clueless as to conveyancing in Totton what is your top tip you can impart concerning the ownership transfer in Totton
You may not hear this from too many lawyers but conveyancing in Totton or throughout England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there is an abundance of room for friction between you and others involved in the ownership transfer. For example, the seller, estate agent and even potentially a bank. Appointing a law firm for your conveyancing in Totton is a critical decision as your conveyancer is your adviser, and is the ONE party in the process whose responsibility is to protect your best interests and to protect you.
We are witnessing a worrying ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. You should always trust your solicitor ahead of the other parties when it comes to the legal transfer of property.
It has been 2 months following my purchase conveyancing in Totton completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 Totton differ for new build properties?
Most buyers of new build premises in Totton approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Totton typically 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 Totton or who has acted in the same development.
Should I be concerned that 3rd parties that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a local Totton conveyancing firm?
As with many professional services, often recommendations from connections can be very helpful. But there are many people with a keen interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may suggest conveyancers to retain. Sometimes the solicitors might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the right to appoint your own conveyancer. You need to be aware that many mortgage providers specify a panel list of law firms you are obliged to use for the lender aspect of your home move.
I have just appointed agents to market my ground floor apartment in Totton. Conveyancing solicitors are to be appointed soon, but I have recently had a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is pay the invoice as normal given that all ground rent and service invoices will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Totton Leasehold Conveyancing - Examples of Queries before buying
How much is the yearly maintenance fee and ground rent? How many of the leaseholders are in arrears for their maintenance charge payments? How is the lease structured?
I have just appointed agents to market my basement flat in Totton.Conveyancing solicitors are to be appointed soon however I have recently had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you discharge the maintenance contribution as usual because all ground rent and maintenance charges will be allottedas part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially