Residential Conveyancing

Frequently Asked Questions

We offer a high quality residential and commercial conveyancing service.  The property team comprises Elizabeth Thompson and Sylvia Bullock, and a dedicated team of well trained secretaries and administrative assistants.  We have invested in training and IT.  We have a speedy and competitively priced internet based search facility which also has the capacity to produce accurate plans and provide a Home Information Pack service of high quality and at a reasonable cost.

You will find a list of frequently asked questions below. Just click on the question and the answer will be displayed.

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Can I obtain a Home Information Pack from you?

We can prepare a HIP for you at a very competitive price. Please ask us. The benefit of this is that we will then be ready to go ahead with your sale as soon as you find a buyer. We can provide a HIP in paper form, on CD or electronically to your agent.

How long does it take?

The average conveyancing transaction takes 6-8 weeks from start to finish. However, there are various factors that can affect the speed of a transaction. For example, is there a chain and if so, how many parties are in it. Your mortgage arrangements or those of another party in the chain may delay matters. We obtain any pre-contract searches through an on-line search facility. This facility speeds up the conveyancing process as searches can be obtained very quickly.

Is there anything I can do to speed matters up?

Yes.  If you are selling please let us have as soon as possible:-

1. The name and address of your mortgage lender and your mortgage account number.
2. Your deeds if you have no mortgage.
3. Your ID to satisfy the Money Laundering Regulations.  Ideally we would like to see your passport and driving licence but other forms of ID will be acceptable.  Please speak to us about this.
4. Completed Property Information and Fixtures Fittings and Contents Forms.

If you are buying:-

1. Please let us have money (either cash or a cheque payable to Frisby & Co) on account for the search fees ASAP, so that we can get the searches going.  We will let you know how much to pay as soon as you instruct us.
2. Please arrange your Survey, at the earliest possible date.
3. Please apply for your mortgage.

What types of Survey are there and should I have one done?

There are 3 basic main options:-

1. A basic valuation.
   This is normally undertaken by the mortgage lender. It is a very limited report.
2. A Home Buyers Report & Valuation.
   This type of report has to be undertaken by a qualified surveyor. We would recommend that all our clients have such a survey, especially when the property is over 10 years old.
3. A Full Structural Survey.  Most buyers do not have such a survey because of the cost involved.  It will be an in depth report.

The surveyor who carries out a basic valuation or Home Buyers Report may recommend a structural engineers report on a certain aspect of the property concerned. A report of this nature is not as expensive as a full structural survey on the whole property.

How do I arrange a Survey?

A basic valuation will normally be arranged by the mortgage lender. If you are having a mortgage, and you want to have a Home Buyers Report carried out, then you should ask if your lender could arrange this report at the same time as the basic valuation, as this should save expense for you. We can arrange any kind of survey for you through our established connections with experienced Chartered Surveyors and Building Engineers (as appropriate). Please ask for our help. We are keen for you to have a survey.

Why do Searches need to be done before Exchange of Contracts?

Even if you know the property well, because for example you are buying from your landlord, the searches may reveal something you did not know about. The HIP contains a local and water search. We ordinarily carry out a local search, mining, chancel repair, drainage search and environmental searches. We also ensure that other searches are obtained when required in a particular locality, e.g. a mineral search in Devon or Cornwall. In any event, your mortgage lender will require us to obtain all necessary searches.

Do we have to pay a Deposit?

If you are a first time buyer, you will normally have to pay a deposit. This will be 10% of the purchase price, or the difference between the amount of your mortgage and the purchase price (whichever is the lesser). If you are selling and buying then normally you will not have to find a deposit, as you can use the deposit from your sale on your purchase.

Are Nil Deposits acceptable?

If you are borrowing 100% of the purchase price, then please let us know this at the outset. Most sellers solicitors are not keen on nil deposits, as there is reduced protection for their clients if the buyer withdraws after exchange of contracts. If you have no deposit then we would wish to raise this with the seller's solicitors as soon as possible. It would be helpful if you could raise £500 as a minimum.

What is Exchange of Contracts?

This is the date on which a binding agreement is made between the seller and the buyer. If you are buying and selling we will ensure (using a Law Society Formula) that the exchange of contracts is simultaneous on both transactions.

What is the Completion Date?

This is the date fixed at the point of exchange of contracts, for the sellers and buyers to move. We advise clients to vacate their existing property by 1pm, if at all possible, on the day of completion. The buyers become the legal owners of the property on the day of completion, once the full purchase monies have been paid.

Once my sale goes through, when can I expect to receive my remaining monies?

This will ordinarily be sent to you on the day of completion. We normally hand you or send you a cheque. However, the funds can be transferred direct to your bank account as long as you are happy for us to deduct the bank transfer fee of £23.50. If you require this service, then please let us have your bank details - bank name and address, account name and number and sort code.

What should I do with the keys to my existing Property on completion?

As soon as vacated, please leave all your keys with the selling agents. They will only hand the keys over once the purchase monies have been paid. Please do not drive off to your new property at the other end of the country taking the keys with you. It has happened! If there are no estate agents, then please arrange to give the buyers the keys direct. Please do not hand the keys over, until you have checked with us that we have received all monies.

How do I get the keys to my new Property?

From the sellers direct if there are no estate agents - please make your own arrangements. If there are estate agents, then normally they will hold the keys. Please check with us that everything has gone through to save you having to wait for a long time in the agent′s office.

When do I have to pay for your services?

We will ask you to let us have a sum (usually £250.00) on account of search fees, if you are buying at the start of the transaction. This is to enable us to forge ahead with the searches. We will ask you to let us have the balance of our fees and disbursements between exchange of contracts and completion. We will let you have a detailed completion statement.

Can you act for me buying or selling outside Stafford and the neighbouring area?

We are very happy to act for you on conveyancing matters anywhere in England and Wales. If you live some distance from our offices, then a personal visit will probably not be necessary. We would however like to meet you, if possible. The conveyancers at our firm enjoy meeting clients in person. We can communicate with you by email, fax, telephone or post. If you live abroad then this presents no problems for us.