Why do I have to pay up front for my conveyancing in Lanchester?
If you are buying a property in Lanchester your lawyer will request that you put them with funds to cover the the cost of the conveyancing searches. Normally this is called for to cover the fees of the Local Authority Search. If any down payment is as part of the total price then this should be needed immediately prior to exchange of contracts. The closing balance that is due should be sent to your lawyer a couple of days prior to the day of completion.
My wife and I have recently appointed a conveyancing solicitor in Lanchester. I I am struggling to find out whether they are accepted on the TSB approved list of lawyers. Can you assist?
You should call the solicitor and ask them whether they are on the lender panel. Otherwise please get in touch with TSB who may be able to confirm.
Should our conveyancer be raising questions concerning flooding during the conveyancing in Lanchester.
The risk of flooding is if increasing concern for solicitors dealing with homes in Lanchester. There are those who buy a property in Lanchester, fully aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a number of searches that can be initiated by the buyer or by their conveyancers which should give them a better understanding of the risks in Lanchester. The standard information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to determine if the property has historically flooded. In the event that the residence has been flooded in past which is not notified by the seller, then a buyer may commence a compensation claim resulting from an inaccurate answer. A buyer’s conveyancers may also conduct an environmental report. This should disclose if there is any known flood risk. If so, additional investigations should be conducted.
four months have elapsed following my purchase conveyancing in Lanchester took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 property 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.
My husband and I are first time buyers - had an offer accepted, but the agent informed us that the vendor will only issue a contract if we use their recommended solicitors as they want a ‘quick sale’. My instinct tells me that we should use a local solicitor who is accustomed to conveyancing in Lanchester
It is improbable the sellers are behind this. Should the seller require ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make the point that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you are going to use your preferred Lanchester conveyancing firm - not the ones that will give the estate agent a kickback or achieve conveyancing targets demanded by corporate headquarters.