Due to complete my purchase in Blakeney next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the lender expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These requirements are not limited to conveyancing in Blakeney.
When can the exchange of contracts occur in domestic conveyancing in Blakeney and do I need to be at the conveyancers office?
Where you are near to our conveyancing solicitors in Blakeney you are invited in to sign the paperwork. That being said, the firms we work with offer a nationwide conveyancing service and give just as detailed and professional a job for you when dealing with you digitally. The executing of the contract is not the important part. A signed contract is just a prerequisite for the conveyancer to address the formalities at the suitable time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Blakeney)to be in the office at the appropriate time.
four months have gone by following my purchase conveyancing in Blakeney concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Blakeney differ for new build properties?
Most buyers of new build residence in Blakeney contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Blakeney usually buy the site, 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 conveyancers 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 used to new build conveyancing in Blakeney or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and identified one round the corner in Blakeney I like with open areas and station nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Blakeney for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
In my capacity as executor for the will of my father I am selling a property in Monmouth but I am based in Blakeney. My solicitor (based 235 kilometers from meneeds me to sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in Blakeney who can attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are located in Blakeney