Last December we completed a house move in Bounds Green. We have since encountered a number of problems with the house which we suspect were omitted in the conveyancing searches. What action can we take? What searches should? have been conducted for conveyancing in Bounds Green?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Bounds Green. Conveyancing searches and due diligence undertaken during the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, a property owner answers a document referred to as a SPIF. If the information proves to be misleading, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Bounds Green.
Completed the sale of my flat in Bounds Green last August but my buyer keeps telephoning every few hours to say their solicitor needs to hear from mine. What are the post completion sale formalities following completion?
Post completion of your house sale your conveyancer should send the transfer deeds and all additional paperwork to the purchaser's lawyers. If applicable, your lawyer must also confirm that the legal charge in favour of the lender has been repaid to the purchasers solicitors. There are no post completion steps just for conveyancing in Bounds Green.
Is there a search tool that I can utilise to investigate if the solicitor handling my conveyancing in Bounds Green is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for HSBC Bank thus spending £192.00 in supplemental legal charges.
You should make use of the find a conveyancing panel solicitor tool on this web page. Please choose the mortgage company and type ‘Bounds Green’ or your preferred area and you will see a number of lawyer offices in Bounds Green or nearest you.
How does conveyancing in Bounds Green differ for new build properties?
Most buyers of new build or newly converted property in Bounds Green come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Bounds Green typically 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 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 Bounds Green or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Bounds Green I like with amenity areas and station nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Bounds Green in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term will likely be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
My wife and I purchased a leasehold house in Bounds Green. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Bounds Green who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Bounds Green conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a first floor flat in Bounds Green. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Most certainly. We can put you in touch with a Bounds Green conveyancing firm who can help.
An example of a Lease Extension decision for a Bounds Green residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The unexpired residue of the current lease was 81.79 years.