The Wokingham conveyancing firm handling our Wokingham conveyancing has uncovered a discrepancy between the surveyor’s assumptions in the home valuation survey and what is revealed within the title deeds. My solicitor has advised that he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am buying a semi-detached house in Wokingham. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Wokingham you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Wokingham.
Will our lawyer be raising questions concerning flooding as part of the conveyancing in Wokingham.
Flooding is a growing risk for solicitors specialising in conveyancing in Wokingham. Some people will buy a property in Wokingham, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a numerous searches that can be carried out by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Wokingham. The conventional set of property information forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard question of the owner to determine whether the property has historically flooded. If the premises has been flooded in past which is not revealed by the seller, then a purchaser could issue a claim for damages stemming from an inaccurate response. A purchaser’s conveyancers may also conduct an environmental report. This should disclose whether there is any known flood risk. If so, more detailed investigations should be initiated.
It has been five months since my purchase conveyancing in Wokingham concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 premises 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.
We're new on the property ladder - had an offer accepted, yet the agent told us that the owners will only issue a contract if we appoint their recommended solicitors as they need a ‘quick sale’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Wokingham
We suspect that the seller is not behind this ultimatum. Should the seller require ‘a quick sale', turning down a genuine purchaser is going to damage their objectives. Speak to the vendors direct and explain that (a)you are serious purchasers (b)you are ready to progress, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your own,trusted Wokingham conveyancing firm - as opposed tothose that will earn the estate agent a introducer fee or meet his conveyancing thresholds demanded by senior management.
I have today placed an offer on a leasehold flat in Wokingham and the mortgage adviser that we are using recommended his conveyancer. He quoted a thousand pounds including VAT and 3rd party costs. Does this sound steep?
Don't just go on one quote. You should obtain like-for-like quotes for your conveyancing in Wokingham. Then choose one that you trust and crucially, is on the approved list of the lender that you have applied for a mortgage from.