We're in Stanstead Abbotts, First time buyers purchasing with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
There are a variety of conveyancing solicitors in Stanstead Abbotts but how do I know who I should use?
It would be unwise to be swayed by the lowest Stanstead Abbotts conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I just bought a flat at auction in Stanstead Abbotts. Conveyancing is required. What is next?
Given that you have now exchanged you will need to choose a conveyancing solicitor quickly as you will have a pending a fixed date to complete the property. An auction property will ordinarily have a bespoke legal set of papers. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the legal papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You must give this to the lawyer instructed by you at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
When it comes to lenders such as Bank of Ireland, do Stanstead Abbotts property lawyers incur a fee to be on the list of approved solicitors?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I require quick conveyancing in Stanstead Abbotts as I am under a deadline to complete in less than 3 weeks. Luckily I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at free not to have searches conducted although no law firm would recommend that you don't. Drawing on our experience of conveyancing in Stanstead Abbotts the following are examples of issues that can appear and adversely affect future saleability: Enforcement Notices, Overdue Fees, Overdue Grants, Road Schemes,...
How does conveyancing in Stanstead Abbotts differ for new build properties?
Most buyers of new build premises in Stanstead Abbotts contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is completed. This is because builders in Stanstead Abbotts usually buy the real estate, 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 conveyancing solicitors 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 Stanstead Abbotts or who has acted in the same development.
Why do I have to provide my solicitor with various items of ID before I can proceed with my conveyancing in Stanstead Abbotts?
Stanstead Abbotts property lawyers are required by the Law Society, SRA, the Land Registry and current Money Laundering legislation to certify that the have verified the identity of their clients. It will also be a condition of your mortgage offer. In addition they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, national insurance number and date of birth.