Completed the sale of my flat in Wapping last September but my buyer keeps Skype messaging daily to say her solicitor is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
After completion of your disposal your solicitor should send the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor must also send confirmation that the home loan has been discharged to the buyers conveyancers. There are no post completion tasks unique to conveyancing in Wapping.
Should our conveyancer be making enquiries concerning flooding during the conveyancing in Wapping.
Flooding is a growing risk for solicitors specialising in conveyancing in Wapping. Plenty of people will buy a house in Wapping, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Wapping. The standard information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to find out if the premises has suffered from flooding. In the event that flooding has previously occurred and is not notified by the owner, then a buyer could issue a compensation claim resulting from an misleading reply. The buyer’s lawyers should also commission an enviro report. This will indicate whether there is a recorded flood risk. If so, more detailed inquiries should be initiated.
I have justbeen informed that Stirling Law have closed. They conducted my conveyancing in Wapping for a purchase of a freehold house 18 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The quickest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wapping conveyancing specialists.
I'm purchasing my first flat in Wapping with a loan from The Mortgage Works. The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not to tell my solicitor about the deal as it could adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Wapping is the location of the property. Can you shed any light on this issue?
Flying freeholds in Wapping are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wapping you would need to get your solicitor to go 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 Wapping 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.
In surfing the web for the phrase conveyancing in Wapping it reveals numerous conveyancerslocally. With so much choice what is the best way to find the suitable solicitor for my move?
The best way of choosing a suitable conveyancer is via personal testimonial, so seek the opinion of friends and those you trust who have bought a property in Wapping or a respected estate agent or financial adviser. Charges for conveyancing in Wapping vary, so it's advisable to obtain at least four quotes from different conveyancers. Make sure that you clarify that the costs are assured not to escalate.