Should lawyers ask for an advanced payment for conveyancing in West Hendon?
Where you are retaining lawyers for conveyancing in West Hendon your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. Generally this is needed to cover the fees of the Local Authority Search. If any down payment is payable against the sale price then this will be asked for shortly in advance of exchange of contracts. Any further balance that is needed should be transferred a few days prior to the day of completion.
My grandfather passed away six months ago and as sole heir and executor I was left the property in West Hendon. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Yorkshire BS will require that you use a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
Will my solicitor be raising enquiries about flooding as part of the conveyancing in West Hendon.
The risk of flooding is if increasing concern for conveyancers dealing with homes in West Hendon. There are those who buy a property in West Hendon, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, but there are a number of searches that may be carried out by the purchaser or by their lawyers which will figure out the risks in West Hendon. The conventional set of information given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the owner to discover if the property has ever been flooded. In the event that flooding has previously occurred which is not revealed by the owner, then a purchaser could issue a legal claim for losses stemming from an misleading reply. A buyer’s conveyancers should also carry out an environmental report. This will reveal whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
How does conveyancing in West Hendon differ for new build properties?
Most buyers of new build property in West Hendon approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because new home sellers in West Hendon typically buy the real estate, 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 used to new build conveyancing in West Hendon or who has acted in the same development.
My partner has encouraged me to instruct his conveyancing solicitors in West Hendon. Should I choose my own conveyancer?
Much as we are happy to recommend a West Hendon conveyancing lawyer the best way to choose a conveyancing lawyer is to have feedback from friends or relatives who have actually used the solicitor you're considering.
Why am I unable to complete my conveyancing in West Hendon on Easter Monday?
This is due to the fact that on completion the purchase price needs to pass between the banks of the buyer and seller's lawyer and currently this can only happen on a business day. So you can't complete on a weekend either.