At what point will exchange of contracts occur in sale conveyancing in Smethwick and am I required to be at the lawyers branch?

Where you are in close proximity to one of the conveyancing solicitors in Smethwick you are invited in to sign documents. However, the firms we work with offer countrywide coverage for conveyancing and give just as diligent and professional a job for you when dealing with you digitally. The signing of the purchase agreement is not the point of no return. A signed contract simply enables the conveyancer to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Smethwick)to be in the office at the appropriate time.

This question may be naive but I am wet behind the ears as a first time buyer of a garden flat in Smethwick. Do I receive the keys to the house on completion from my lawyer? If so, I will instruct a High Street conveyancing solicitor in Smethwick?

There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you will be able to pick up the keys from the property Agents and start moving into the property. Usually this happens early afternoon.

We are getting a further advance on our home loan from UBS as we want to carry out a loft conversion to our house in Smethwick. Are we obliged to choose a high street Smethwick solicitor on the UBS conveyancing panel to deal with the paperwork?

UBS don't usually require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS conveyancing panel.

We have agreed to purchase a house in Smethwick. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?

Given that you are obtaining a mortgage with Virgin Money your lawyer must check the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Virgin Money where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not isolated to Smethwick.

I need to retain a conveyancing solicitor for sale conveyancing in Smethwick. I have land on a site which looks to be the ideal answer If it is possible to get all this stuff completed via phone that would be ideal. Should I be concerned? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am employed by a busy estate agent office in Smethwick where we have experienced a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Smethwick conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Smethwick Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

Most Smethwick leasehold apartments will have a service bill for maintenance of the block set by the freeholder. Should you buy the flat you will have to meet this liability, normally quarterly throughout the year. This can be anything from several hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge for you to pay yearly, this is usually not a large figure, say around £50-£100 but you should to check it because on occasion it could be many hundreds of pounds. What is the the remaining lease term? Does the lease include onerous restrictions?

I am soon to complete buying a house in Smethwick but as a consequence of wreckage from the recent storms I have negotiated recompense from the vendor of £3k by way of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process however my bank will not agree to this. Should they have been notified?

Your lawyer listed on the lender approved list is obliged to disclose to the lender of any variations to the sale amount. If you were to refuse your solicitor to report the price change to your mortgage company then they would have no choice but to discontinue acting for you and the mortgage company.