Various online forums that I have frequented warn that are the number one cause of obstruction in Buckinghamshire house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Buckinghamshire.
How does conveyancing in Buckinghamshire differ for newly converted properties?
Most buyers of new build residence in Buckinghamshire approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Buckinghamshire tend to buy 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 accustomed to new build conveyancing in Buckinghamshire or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Buckinghamshire is where the house is located. Can you shed any light on this issue?
Flying freeholds in Buckinghamshire are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Buckinghamshire you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Buckinghamshire may decide 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.