When will exchange of contracts happen for domestic conveyancing in Alford and am I required to be at the solicitors office?
If you are round the corner to one of the conveyancing solicitors in Alford you are welcome to attend to sign the paperwork. However, the law practices we work with offer a countrywide conveyancing service and give as equally comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not the point of no return. A signed contract is necessary for the conveyancer to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Alford)to be in the office at the appropriate time.
How does conveyancing in Alford differ for new build properties?
Most buyers of new build residence in Alford come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Alford tend to buy 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 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 Alford or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Alford is the location of the property. What do you suggest?
Flying freeholds in Alford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Alford you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Alford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.