I am in a contract race with another buyer for a property in Victoria. What can I do to expedite matters?
In a situation where you are under a tight deadline for your conveyancing we would recommend that your lawyer is familiar with the area as they will benefit local contacts and knowledge. It is possible that they could have handled otherproperties in the same road. You would be best advised to use a Victoria conveyancing solicitor. Second, make sure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that 18% of Victoria conveyancing deals are suspended or derailed after discovering a purchaser’s lawyer was not on their mortgage lender’s member panel. This can often result in the legal transfer of property being delayed by almost three weeks. It is understood that this issue impacts approximately one hundred thousand home sales annually. Many Victoria conveyancing firms can not act for certain lenders so do check at the outset.
We see that you have a post code search directory identifying solicitors on the TSB conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in Victoria?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Victoria.
My lender has recommended a law firm on their panel based in Victoria but I would rather instruct a conveyancing lawyer in Victoria round the corner to me. Are you able to assist?
It is by no means the case that all Victoria conveyancing solicitors are on all lender’s conveyancing panel. Use the above find an approved solicitor tool to locate a Victoria conveyancing firm on the on the lender panel.
Various online forums that I have visited warn that are the number one reason for stalling in Victoria house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Victoria.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one round the corner in Victoria I like with a park and railway links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Victoria for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I have been pointed in your direction by a number of estate agents in Victoria to select a property lawyer on your site. What’s the financial incentive for Estate Agents to market your services rather than a competitor’s?
We don’t make any commission for directing people our way. We found it would be just too difficult a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.