Our god-son is about to exchange on a house that has just been built in Calne with a mortgage from RBS. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am close to exchanging contracts on the sale of our home in Calne and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers used a web based conveyancing firm rather than a conveyancing solicitor in Calne. We have lived in Calne for three years we know of no issue. Should we get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Due to the guidance of my in-laws I had a survey completed on a house in Calne prior to instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies will not grant a loan on such a premises.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Calne. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Calne to see if the conveyancing will be more expensive.
I need to retain a conveyancing solicitor for leasehold conveyancing in Calne. I have stumble upon a site which looks to be the perfect solution If there is a chance to get all this stuff completed via email that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am employed by a long established estate agent office in Calne where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Calne conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Calne Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
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The prefered form of lease structure is where the freehold interest is owned by the leaseholders. In this situation the leaseholders have being in charge if their destiny and even though a managing agent is usually employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. How long is the Lease? The answer will be helpful as a) areas may cause problems in the building as the common areas may begin to deteriorate if services remain unpaid b) if the tenants have a dispute with the managing agents you will need to have complete disclosure
Is there a distinction between surveying and conveyancing in Calne?
Conveyancing - in Calne or elsewhere - is the process of legally transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you find out about the condition of the building and, if there are problems, give you leverage for negotiating the purchase price down or asking the seller to remedy the problems before you complete your move.