I am about to exchange buying a property in Caldicot but as a result of wreckage from the recent storms I have managed to agree recompense from the vendor of £2k taking the form of a deduction in the price. I had intended this to be addressed as part of a side agreement yet RBS are not allowing this. Should they have been notified?
The solicitor that is on the RBS conveyancing panel is required to advise RBS of any amendments to the purchase price. If you prohibit your property lawyer to report the price change to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new conveyancer for your conveyancing in Caldicot.
I am assisting my sister sell her flat in Caldicot. Does the solicitor order an energy performance certificate or it is for the owner to coordinate?
Following the demise of Home Packs, EPC’s was maintained a compulsory element of selling a property. An energy assessment should be commissioned in advance of the property being marketed. This is not something that law firms normally arrange. If you are using a Caldicot conveyancing solicitor they may be able to arrange EPC’s given their relationships with long established local assessors
We expect to receive a AIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Caldicot solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Caldicot solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I have instructed a Caldicot solicitor having checked that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Caldicot postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Caldicot.
Various web forums that I have come across warn that are the number one cause of delay in Caldicot house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of slowing down conveyancing in Caldicot.
Are there restrictive covenants that are commonly identified during conveyancing in Caldicot?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Caldicot. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Caldicot. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Caldicot
-
Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I am looking for a leasehold apartment up to £195,000 and found one close by in Caldicot I like with amenity areas and transport links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Caldicot for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the shortness of the lease will be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.