I am buying a house for cash in Thetford. I have resided for the previous 15 years in Thetford. Conveyancing searches are a lot of money. As I know the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a home loan, then all but one or two of the Thetford conveyancing searches are non-obligatory. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches completed, but she has a professional duty to take that path of advice. Do take into account; if you are likely to sell the house one day, it could be of interest to your future buyer what the searches contain. There are plenty of instances where properties with no practical issues can still show up unpredicted search results. A competent conveyancing solicitor in Thetford will be able to give you some practical guidance here.
Will my conveyancer be making enquiries regarding flooding as part of the conveyancing in Thetford.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Thetford. Some people will buy a house in Thetford, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a various searches that can be carried out by the buyer or by their lawyers which should give them a better understanding of the risks in Thetford. The conventional set of information given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to find out if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the vendor, then a purchaser could commence a claim for damages resulting from an inaccurate reply. A buyer’s lawyers may also order an environmental report. This will reveal if there is a recorded flood risk. If so, more detailed investigations should be carried out.
How does conveyancing in Thetford differ for new build properties?
Most buyers of new build property in Thetford contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Thetford tend to acquire the land, 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 accustomed to new build conveyancing in Thetford or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Thetford prior to instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies tend not grant a mortgage on such a home.
It varies from the lender to lender. Santander has different requirements from Halifax. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Thetford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Thetford to see if the conveyancing will be more expensive.
Am I best advised to appoint a Thetford conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can perform the legal work however her office is 300kilometers away.
The benefit of a local Thetford conveyancing firm is that you can drop in to execute documents, deliver your identification documents and apply pressure on them if necessary. They will also have local insight which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were content that should outweigh using an unknown Thetford conveyancing solicitor solely due to them being round the corner.