Having been suggested to visit your company we were going to go ahead with a conveyancing solicitor in Raunds endorsed by you but have come across some other costs illustrations on the internet appear cheaper – how come?
There are a variety of solicitors advertising at first sight what seems to be cut price. We suggest that you give due consideration about how much you respect your own move to you are willing to be penny wise pound foolish concerning the standard of the legal work. Many of them highlight a cheap fee to catch your eye but conceal supplemental charges in the fine print..
Do lawyers request an advanced payment for my conveyancing in Raunds?
If you are buying a property in Raunds your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the sale price then this will be asked for shortly in advance of contracts are exchanged. The final balance that is needed will be payable a couple of days ahead of the day of completion.
The Raunds conveyancing solicitors that I recently instructed on my house acquisition in Raunds have suddenly closed. I chose them because I needed a lawyer on the Skipton conveyancing panel and my family Raunds lawyer was not. I wrote them a cheque for £250 in advance. What do I do now?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
Will our solicitor be making enquiries concerning flooding as part of the conveyancing in Raunds.
The risk of flooding is if increasing concern for solicitors dealing with homes in Raunds. There are those who acquire a house in Raunds, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a numerous checks that may be carried out by the buyer or by their lawyers which should give them a better appreciation of the risks in Raunds. The conventional set of information supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the owner to determine if the property has suffered from flooding. If flooding has previously occurred which is not revealed by the vendor, then a buyer could commence a legal claim for losses resulting from an incorrect answer. A purchaser’s conveyancers will also carry out an environmental search. This will reveal whether there is a recorded flood risk. If so, additional inquiries should be conducted.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Raunds I like with open areas and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Raunds in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.