My husband and I are approaching an exchange on a house in Boscastle and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now informed that as the deposit has not come from me my conveyancer needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
The property lawyer is obliged to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Finally the sale completed on my house in Boscastle last November yet the purchaser is e-mailing daily to say his lawyer needs to hear from mine. What should my lawyer have done now that I have sold?
Following your sale your solicitor should deliver the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Where appropriate, your lawyer must also evidence that the home loan has been repaid to the purchasers solicitors. There is unlikely to be post completion procedures unique to conveyancing in Boscastle.
I am in the process of mortgaging my flat in Boscastle, does my lawyer have to be on the Lloyds Conveyancing panel?
There is nothing to stop you using your solicitor, but Lloyds will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Should my solicitor be raising questions concerning flooding during the conveyancing in Boscastle.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Boscastle. Some people will acquire a house in Boscastle, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, but there are a number of searches that can be carried out by the buyer or by their solicitors which should figure out the risks in Boscastle. The standard information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to discover if the premises has ever been flooded. If the residence has been flooded in past which is not revealed by the owner, then a buyer may issue a compensation claim as a result of such an misleading answer. A purchaser’s solicitors will also conduct an environmental report. This will disclose whether there is a recorded flood risk. If so, additional investigations will need to be carried out.
My husband and I are novice buyers - agreed a price, but the property agent told us that the seller will only move forward if we instruct the agent's recommended conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Boscastle
It is highly unlikely the owners are driving this. Should the seller desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is not the way to achieve this. Speak to the owners direct and make sure they comprehend that (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your preferred Boscastle conveyancing firm - as opposed tothe ones that will give the estate agent a commission or achieve conveyancing targets demanded by HQ.