19 January, 2018

Kingfields Solicitors

 

 

Frequently Asked Questions.

The FAQ page is split into 4 sections. Please choose the section relative to you.


Questions relating to sale transaction

When do I pay the estate agent's commission account?

We will receive the Estate Agents commission invoice once contracts have been exchanged. It is this firm's policy to send a copy of the commission account to you for approval. The terms of your agreement with the Estate Agents will set out the date by which the commission must be paid. Usually, with your approval, we pay the Estate Agent's Commission out of the net sale proceeds of your property on the day of completion.

What to I do if I have lost my deed?

The procedure will depend on whether the property is registered or unregistered and how they came to be lost. If title for your property is registered at HM Land Registry then since the Land Registration Act 2002 came into force this may no longer constitute a problem. In the more unusual situation where title to the property is not registered at the ` HM Land Registry, the individual circumstances will need to be investigated and specialist legal advice may be required to resolve the situation.

I have a shared drive, what are my rights?

Your deeds will need checking to ensure that proper rights were granted to you over the part of the drive shared with your neighbour.

When will I receive the sale money?

This will be sent to you on the day of completion provided we receive the sale money from the buyer's solicitors by 1:30 pm. If we receive the funds after this time then the net proceeds of sale will be transferred to you on the next working day. If you are purchasing as well then the sale proceeds are used on your purchase of your new property and any residue will be sent to you on the day of completion or, at the very latest on the next working day. We can either make payment by cheque but for large amounts your solicitor can transfer the money direct to your bank if you request this in advance and provide them with your account details. There may be an additional bank transfer fee for this.