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Original poster

Property solicitor

564 replies

MummytoGeorgie · 24/05/2021 23:03

I'm on maternity and I miss my work!

I'm a property solicitor, if anyone has any questions I would be more than happy to give some free advice to do with conveyancing i.e moving home, enquiries, searches, title documentation etc (no landlord tenant as that's not my area of expertise).

TIA

OP posts:
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8
Mildura · 19/07/2021 13:15

@MummytoGeorgie

I own and run a small estate agency firm

I understand that, but in 25 years I have never seen a mortgage valuer value a property at a higher amount than the agreed transaction price. I do not believe it is possible to assess a property value down to within an amount of 3 - 4%, it is simply not that exact a science.

The situation described by @goodbyestranger is quite bizarre.

If a valuer believed the market value to be £900k and the agreed price was £625k then that would be entirely different.

May I also say I wish there were more solicitors around like you, I would gladly refer all of my clients to you!

Original poster
MummytoGeorgie · 22/07/2021 17:02

@goodbyestranger we don't hate it, well it don't but it can complicate matters. Estate agents I wouldn't have thought would like it. All communication should really go through each respective solicitor. You would need to speak to a tax specialist or probate solicitor re IHT.

@Mildura
Hey, I've seen it happen for a few times. Or if it was originally agreed at £650k and then after the offer was issued it got reduced to £625k then it happens.
And ah thank you, we can make that happen ha xx

OP posts:
CatAndHisKit · 22/07/2021 19:11

OP new development in my situation that this Monday buyer's solicitor has finally received that formal approval letter which also contained enquiries. It transpired that lender isn't happy with the searches being quite old - buyer had them done in December (yes, it's been that long!), they came in the last few ddays of Dec - obvs it's likely to be all valid as in no change in my area etc, but th bank prbably has rules. Buyer now suffering from his own delays as well as I am.
They said they'll suggest indemnity insurance to lender - I'd think it would be enough as it's like he's never done the searches just that they are not up to the minute.

They told the agent that the wait is niw for the bank's decision (I hope this is the only issue, but no other ben mentioned) - but it's not Thursday and no decision still. Do yo uknow how long does it take and would dthey also accept a private (faster) search which people do for speed? Or are they likely to accept insurance and it's normal to take a few days to decide that?
My vendor is not happy now and already mentions to his EA that he may go back on the market - it's only been three months for him but he doesn;t like the uncertainty / lack of exchange. I'm not hugely bothered about losing the house but not much other choice atm in my budget so would rather not.
Thanks again!

CatAndHisKit · 22/07/2021 19:12

P.S. searches took 5 wees last time and now they are slower, I've heard - so really nobody wants to do them again, esp as they would just repeat what the other ones shown. Lenders aer so beaurocratic!

CatAndHisKit · 22/07/2021 19:12

*weeks (haha)

Original poster
MummytoGeorgie · 22/07/2021 20:45

@CatAndHisKit hey, who is their lender? Every lender is different but if you know who it is I can check... doesn't need a decision from them it's either they do accept or they don't and can be found out in a matter of seconds.

Searches only last 6 months.

xx

OP posts:
CatAndHisKit · 23/07/2021 00:57

I don't know, Mummy, not sure if solicitor / agent can request that info. So if the buyer already mentioned to agent re insurance, it sounds like they 'don't'. does it take days to sort the insurance out? or even weeks?
Sounds like that's what they are doing if not waiting for decision - it's been 4 days. Otherwise would the lebder accept the speedier 'personal' searches, as I understand private comoanies do it for a fee.

CatAndHisKit · 23/07/2021 01:01

sorry you were probably talking about the lender accepting insurance, not the old searches. In this case a bit alarming - if they do accept it, maybe the buyer is arranging it as otherwise why the wait. Or if not, they are looking into personal searches. I hope one or the other, not the stadbrad searches from scratch!
You se if he knew thhat searches last 6 months (experienced buyer) why the HECK didn't he start them end of May when everything was agreed, even early June, they'be here by now.

Original poster
MummytoGeorgie · 23/07/2021 06:47

@CatAndHisKit yes sorry I was talking about no search indemnity insurance for the searches.

You can find out on the CML handbook as to whether the lender accepts it within a second and an indemnity policy shouldn't take longer than 24 hours.

Personal searches can be undertaken if agreed by the lender but again, this answer is also on the CML handbook and can be found out instantaneously.

Xx

OP posts:
CatAndHisKit · 23/07/2021 11:31

thanks, OP. I don't think buyers usually share the info of who is their lender - they may tell my agent if I ask - but tbj it's neither here nor there as you've clarified the usual procedure.

The last I've heard was that they were waiting to hear from the lender whether they'll accept indemnity - so must be a lie then if one can immediately see that info, it wouldn;t have taken 4 days to hear -
so I'm assuming they are discussing / looking into personal, do you know how long do these take? And would most of the lenders accept these? Knowing the searches were done in principle, doesn't make sense for then not to be flexible - as nothing terrible showing there.

Also he claimed that the lender had delayed on their end with approval and even went to manager escalation - so if it's their fault for delayng, they've just missed June dates when searches were still valid. So you'd think based on that alone they should be more lenint/flexible.

CatAndHisKit · 27/07/2021 18:35

Hi OP - hope it's still ok to be asking as you've gone quiet (don't blame you!).
After a misery of a week, just got confirmed today that the bank will accept the old serahes / insurance, don't really care which it is. But sol's assistant said there aer 5 pages of enquiries they have to go through!
The survey was done back in May and I thought that was all dealt with of course, but as he's now changed the tern of mortgage from 3 to 5, it appears all this is still needing to be done! I wonder if you could tell me what thee may be - and how long would they normally take. I've already prvided loft conversions buildin control approval docs two months ago but not sure of bank saw them or these are with buyer's sols. He also completed specialist survey on damp which bank recommended/asked or back then.
Could there be anything else? I haven't serviced my boiler for years, but it works - could they demand that and if I don't want to do it, would that pass as a minor thing? I really hopethey don't start more specialist surveys etc.

CatAndHisKit · 27/07/2021 18:36

*old searches

Iamsodonewith2020 · 27/07/2021 18:53

Catandhiskit we had to get our boiler serviced as part of the property info forms

CatAndHisKit · 27/07/2021 19:35

thanks, Iam - I have fliled that in that it was serviced 6yrs ago. Do you think they'll demand a new service? I know not all vendors do it, but still sell. But whether that will cause a delay, that's the question.

TeddyBeans · 27/07/2021 19:42

Hi OP, hopefully a little question from me. Could you shed some light on what payment instruction evidence is please? We've asked our conveyancer several times and she's ignored it each time so far. Not sure if we're far enough through the process to be worrying about it yet but it's the only thing that's flagged up as needs doing on our portal at the moment

Mildura · 28/07/2021 14:24

@Iamsodonewith2020

Catandhiskit we had to get our boiler serviced as part of the property info forms
Just to highlight something here, there is no obligation when selling a property that you must get a boiler serviced.

It is obviously good practice, and gives some reasurance to the buyer.

Original poster
MummytoGeorgie · 28/07/2021 20:34

@CatAndHisKit sorry my mums been really poorly in hospital so haven't been online much.

5 pages of enquiries at this stage sounds beyond ridiculous!

Getting your boiler serviced is not something they can demand, it's not a legal requirement for you to do it at all!!

@TeddyBeans payment instruction could be your money on account for searches OR if you've paid for searches they may be referring to proof of your source of funds (evidence of the money you will be using to fund the purchase). I would send them your last 6 months statements of all accounts where the monies are currently held that you will be using from each account (if more than 1). They request further evidence depending on where the funds originally came from (I.e if from savings they may require pay slips and last few years annual accounts / if from inheritance then proof of that) but it'd be a good start to send them what you have so far.

Xx

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CatAndHisKit · 29/07/2021 00:13

Im so sorry, OP to hear your mum is in hospital - is she stable or even getting silghtly better? Sorry to assume you just got tired of the thread (which would be fair enough obviously).
Thank you - and Mildura - that's relief. I'm just hoping those enquiries can be answeered by buyer's solicitor and not involve me! I do womder wat they are. Maybe for BLT there are particular ones...

CatAndHisKit · 29/07/2021 00:14

*wonder what

Original poster
MummytoGeorgie · 29/07/2021 12:22

@CatAndHisKit she's doing a lot better thank you xxxxx

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CatAndHisKit · 29/07/2021 20:17

phew - great news!
Well my solicotir at last received the TR1 from buyer's - surely it has to be a good sign! after 7+months of waiting can I really hope...Buyer's sols said they aee delaing with many enquiries so cant commit to a completion date, but at least they aer actually dealing with it, not postponing! I wonder what these enquiries can be, os ther anything that may go on for weeks yet, OP, or should be over in a week or two?
Another funny thing - impossible to get people to witness a signature! Wy is everyone refusing - went to my GP's, my bank, post office. I don't wat to ask neighbours as until we exchange don't want to tell them re move, and other people need to be organised to meet up. Thankfully I have one local friend who was available on the day. Very strange, esp as the now say it could be anyone over18.

Original poster
MummytoGeorgie · 30/07/2021 13:04

@CatAndHisKit

Buyers are dealing with many enquiries? Is that for the property you are selling or the buyers related sale?

If it's to do with your property then your solicitor should know what they are.. have they only just replied to the buyers solicitors?

Time to deal with enquiries really is dependable on many factors... whether the solicitor has to contact third parties to obtain replies, whether certain aspects need to be referred to the lender, whether the title to the property is good or defective and needs rectifying - without me seeing the enquiries it's hard to say but 6 pages seems excessive!

Anyone of adult age can witness your signature to the transfer as long as their not related to you or the transaction. Some people do get a bit funny about it but at least you have it signed now :-))

Xx

OP posts:
CatAndHisKit · 30/07/2021 18:00

Its my sale - and enquires aer freom the buyer's lender, but ot sounds like not to me (all of them) but buyer's sols is 'going through them'. As I said, I;ve supplied building control docs etc a while ago - so buyer's sols has them already and maybe that's what they are giving the lender info on, and othe things. No idea what exactly. So far they havent aske dme personally anything, my solicitor is waiting for the to progress. They did send her the TR form fimally she asked for ages).

CatAndHisKit · 30/07/2021 18:04

I mean maybe not all enquiries from the bank are to me as a seller, we haven't had any yet posed to me, maybe he has to answer something as a landord for BTL. Or to do with BC control which I supplied already.
Yes I don't get it - I said to al lof then that it could be anyonmem but GPs used to be dong this as a professional bodu who knows a patient - but no, they all say 'we aer nt allowed' - no good trying to pursuade it that yes they aer allowed, they just loos scared of it!

CatAndHisKit · 30/07/2021 18:14

pursuade THEM - sorry for the hard to read text - I'm typing in a half-dark place!