Is the fact that my conveyancer in Margate is not listed on my lender's conveyancing panel that there is a problem with the standard of her work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Margate conveyancing firm and enquire why they are no longer on the approved list for your lender.
At what point will exchange of contracts occur in purchase conveyancing in Margate and am I required to attend the conveyancers branch?
If you are round the corner to our conveyancing solicitors in Margate you are welcome to attend to sign the paperwork. That being said, the firms we work with provide countrywide coverage for conveyancing and give just as detailed and professional a job for you when communicating with you by post or email. The executing of the property agreement is not the point of no return. Signing on the dotted line is necessary for the solicitor to address the formalities at the suitable time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Margate)to be in the office at the appropriate time.
Please explain the implications if my solicitor is expelled from the Skipton Solicitor panel ahead of completing my conveyancing in Margate?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
How does conveyancing in Margate differ for new build properties?
Most buyers of new build or newly converted property in Margate contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Margate usually buy the site, 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 Margate or who has acted in the same development.
I am using a search engine for the words on line conveyancing in Margate it shows results of numerous property lawyerslocally. With so much choice what is the best way to find the right property lawyer for purchase transaction?
The best method of seeking a suitable conveyancer is via personal testimonial, so enquire of colleagues and relatives who have purchased a property in Margate or a respected estate agent or mortgage broker. Costs for conveyancing in Margate differ, so it's a good idea to obtain at least three estimates from different companies. Dont forget to clarify what costs in the quote includes.