Completed the sale of my flat in Crediton last August yet the purchaser is texting every few hours to moan that her lawyer needs to hear from myconveyancer. What are the post completion sale formalities following completion?
Post completion of your sale your conveyancer is duty bound to send the transfer deeds and all additional paperwork to the buyer’s lawyers. If applicable, your solicitor must also send confirmation that the legal charge in favour of the lender has been redeemed to the purchasers conveyancers. There is unlikely to be post completion procedures unique to conveyancing in Crediton.
I understand that there are debates on Chancel Insurance on online forums. Do I need this when buying a property in Crediton? or I am told that there is an ancient law that could mean that owners of property living in a parish church boundary may be liable to pay for repairs to the chancel within the church. Is this appropriate for conveyancing in Crediton?
Unless a prior acquisition of the house took place after 12 October 2013 you can take it that lawyers carrying out conveyancing in Crediton to remain recommending a chancel search and or chancel repair liability policy.
I am buying my first flat in Crediton benefiting from help to buy. The sellers refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not disclose to my solicitor about the side-deal as it would put at risk my loan with Bank of Ireland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Crediton I like with open areas and railway links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Crediton in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I need to appoint a conveyancing solicitor for some conveyancing in Crediton. I have land on a web site which appears to be the ideal offering If it is possible to get all formalities completed via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
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?
Estate agents have just been given the go-ahead to market my 2 bed apartment in Crediton. Conveyancing has not commenced, but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you clear the maintenance contribution as usual given that all rents and maintenance charges will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a ground floor flat in Crediton, conveyancing formalities finalised August 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Crediton with over 90 years remaining are worth £211,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2092
With 67 years unexpired we estimate the premium for your lease extension to range between £10,500 and £12,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.