My partner and I have just purchased a house in Bow. We have noticed several issues with the house which we consider were overlooked in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been ordered as part of conveyancing in Bow?
The query is vague as what problems have arisen and if they are unique to conveyancing in Bow. Conveyancing searches and investigations initiated as part of the buying process are designed to help avoid problems. As part of the process, the vendor fills in a document called a Seller’s Property Information Form. If the information is incorrect, then you may have a claim against the seller 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 Bow.
Why do I have to pay up front when it comes to conveyancing in Bow?
If you are buying a property in Bow your lawyer will ask you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is as part of the purchase price then this should be asked for shortly prior to contracts are exchanged. The closing balance that is due will be payable a few days prior to the completion date.
What can a local search reveal about the house my wife and I buying in Bow?
Bow conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search is essential in every Bow conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
Just acquired a terraced house in Bow , how long should it take for the Land Registry to register the transfer to my name? My Bow conveyancing solicitor has been painfully slow, so I want to check that my ownership is recorded.
There is nothing unique when it comes to conveyancing in Bow registration formalities. Rather than based on location, timescales can adjust according to who lodges the application, whether it is in order and if the Land registry have to notify any third parties. Currently in the region of 80% of submission are completed within 12 days but occasionally there can be extensive hold-ups. Registration occurs after the new owner is living at the premises therefore an expedited registration is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for an expedited registration.
Due to the encouragement of my in-laws I had a survey completed on a house in Bow prior to appointing conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend refuse to give a mortgage on this type of home.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bow. Conveyancing may be slightly more expensive based on your lender's requirements.
There are only Seventy years left on my lease in Bow. I need to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. On the whole a specialist should be useful to try and locate and prepare a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Bow.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Bow conveyancing firm to act on my behalf?
Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the amount due.
An example of a Freehold Enfranchisement decision for a Bow property is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.