Finally the sale completed on my house in Norbury last June yet the purchaser is e-mailing daily to say his solicitor is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your house sale your conveyancer is duty bound to deliver the transfer documentation and all additional paperwork to the buyer’s solicitors. Depending on the transaction, your conveyancer should also send confirmation that the home loan has been redeemed to the buyers lawyers. There is unlikely to be post completion procedures specific conveyancing in Norbury.
How does conveyancing in Norbury differ for newly converted properties?
Most buyers of new build residence in Norbury come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Norbury usually 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 conveyancers 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 Norbury or who has acted in the same development.
I decided to have a survey carried out on a property in Norbury before instructing solicitors. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some lenders tend not grant a loan on this type of property.
It depends who your proposed lender is. HSBC has different instructions from Halifax. Should you wish to call us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Norbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Norbury to see if the conveyancing will be more expensive.
How straightforward is it to use your search tool to choose a conveyancing practitioner in Norbury on the panel for my mortgage?
1st choose a bank such as , or then specify your preferred area for instance Norbury. Conveyancing firms in Norbury and nationally should be identified.
My wife and I about to exchange on the purchase a property in Norbury but as a result of wreckage from the recent storms I have agreed compensation from the owner of £3k by way of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however my lender will not permit this. Why were they informed?
Any being on a bank approved list is duty bound to inform the mortgage company of any changes to the sale figure. In the event that you were to refuse your to report the price change to your lender then they would have no choice but to refrain from acting for you and the mortgage company.