I am close to exchanging contracts on the sale of our property in Farnham Common and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any high street Farnham Common conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed an online conveyancing outfit as opposed to a conveyancing solicitor in Farnham Common. Having lived in Farnham Common for three years we know of no issue. Should we get in touch with our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You should 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 sickness)
It has been 3 months since my purchase conveyancing in Farnham Common concluded. I have checked the Land Registry site 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.
I am purchasing my first flat in Farnham Common benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of extras instead. The property agent advised me not inform my lawyer about the deal as it may impact my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I have been on the look out for a ground for flat up to £235,500 and found one close by in Farnham Common I like with amenity areas and railway links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Farnham Common suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I have just appointed agents to market my ground floor apartment in Farnham Common. Conveyancing is yet to be initiated, but I have just had a yearly maintenance charge demand – Do I pay up?
It best that you discharge the maintenance contribution as usual as all ground rent and maintenance charges will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Farnham Common - Sample of Questions you should ask Prior to buying
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Where a Farnham Common lease has no more than eighty years it will impact the marketability of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be required to have been the owner of the premises for two years in order to be legally able to extend the lease. Best to be warned if a new roof is being installed or some other major work is pending to be shared by the tenants and will dramatically impact the level of the maintenance fees or require a specific payment.
Me and my partner are expecting to exchange buying a house in Farnham Common but as a consequence of wreckage from the recent storms I have agreed compensation from the owner of £2k taking the form of a adjustment in the price. This was going to be dealt with as part of the conveyancing process yet the bank will not permit this. Why were they involved?
The conveyancer being on the mortgage company conveyancing panel is required to advise the bank of any changes to the sale price. If you prohibit your conveyancer to notify the reduction to your bank then they would have no choice but to discontinue acting for you and the mortgage company.