My wife and I are purchasing a new build flat in Tiptree and my lawyer is informing me that she has to the lender to reveal incentives from the seller. The Estate Agents are hassling me to exchange contracts and I don't want to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do the Building Society Association intend to launch a online directory to to identify law firms on the Darlington Building Society conveyancing panel for example in Tiptree?
We are not aware of any plans on the part of the BSA to develop such a tool.
I need some quick conveyancing in Tiptree as I am faced with pressure to complete within one month. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you have the choice not to have searches conducted although no conveyancer would recommend that you don't. With plenty of history conveyancing in Tiptree the following are examples of issues that can show up and adversely affect market value: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
It has been 4 months since my purchase conveyancing in Tiptree took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Tiptree differ for new build properties?
Most buyers of new build property in Tiptree contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Tiptree typically acquire 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 Tiptree or who has acted in the same development.