How does conveyancing in East Dulwich differ for newly converted properties?
Most buyers of new build property in East Dulwich contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in East Dulwich usually 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 accustomed to new build conveyancing in East Dulwich or who has acted in the same development.
I opted to have a survey completed on a house in East Dulwich ahead of instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some lenders tend refuse to grant a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in East Dulwich. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in East Dulwich to see if the conveyancing will be more expensive.
My husband and I are first time buyers - agreed a price, yet the estate agent advised that the vendor will only issue a contract if we appoint the agent's preferred solicitors as they need an ‘expedited deal’. We would rather use a local conveyancer accustomed to conveyancing in East Dulwich
We suspect that the seller is not behind this requirement. Should the vendor require ‘a quick sale', taking such a hostile approach to a serious buyer is counter productive. Speak to the vendors direct and explain that (a)you are motivated buyers (b)you are ready to progress, with finances in place © you are chain free (d) you wish to move quickly (e)however you will continue to instruct your own,trusted East Dulwich conveyancing solicitors - not the ones that will earn the estate agent a kickback or achieve conveyancing targets set by senior management.