Our son is in the process of securing a house that has just been built in Cockfosters with a mortgage from Principality. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Principality 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 Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
At what point does exchange of contracts happen for sale conveyancing in Cockfosters and do I need to be at the conveyancers branch?
If you are near to one of the conveyancing solicitors in Cockfosters you are invited in to sign documents. However, the law practices we work with offer countrywide coverage for conveyancing and give as equally diligent and professional a job for you when communicating with you by post or email. The signing of the sale agreement is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the firm to address the formalities at the appropriate time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Cockfosters)to be in the office at the appropriate time.
Should commercial conveyancing searches disclose impending roadworks that could affect a commercial estate in Cockfosters?
Its becoming the norm that commercial conveyancing solicitors in Cockfosters will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Cockfosters. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cockfosters.
For every commercial conveyancing transaction in Cockfosters it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Cockfosters commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Cockfosters.
It has been 3 months since my purchase conveyancing in Cockfosters completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 asset 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.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Cockfosters I like with amenity areas and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Cockfosters suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan that many years may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
Can you offer any advice when it comes to finding a Cockfosters conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Cockfosters conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Cockfosters conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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Can they put you in touch with clients in Cockfosters who can give a testimonial?
I own a ground flat in Cockfosters. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to determine the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Cockfosters property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The unexpired term was 70.31 years.