Will conveyancers request an advanced payment for conveyancing in Basildon?
Where you are retaining lawyers for conveyancing in Basildon your lawyer will request that you to provide them with funds to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the conveyancing searches. When the deposit is as part of the total price then this should be needed shortly prior to exchange of contracts. The final balance that is needed should be transferred a few days ahead of the completion date.
Forgive me if this question is silly but I am unseasoned as a first time purchaser of a ground floor flat in Basildon.Do I receive the keys to the premises on the completion date from my lawyer? If so, I will appoint a High Street conveyancing solicitor in Basildon?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's solicitors, and shortly after the monies have arrived, you should be called to pick up the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
I'm purchasing my first flat in Basildon with a loan from . The developers would not budge the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not inform my conveyancer about this side-deal as it will affect my loan with . Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.