Having sold my house in Meopham last September but my buyer keeps Skype messaging me to say her solicitor is waiting to hear from mine. What should have happened following completion?
Following your sale your lawyer should forward the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your lawyer must also send confirmation that the mortgage has been paid off to the buyers lawyers. There are no post completion requirements peculiar conveyancing in Meopham.
What happens if my solicitor is expelled from the Coventry BS Conveyancing panel ahead of completing my conveyancing in Meopham?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Should our conveyancer be making enquiries regarding flooding during the conveyancing in Meopham.
Flooding is a growing risk for lawyers carrying out conveyancing in Meopham. There are those who buy a house in Meopham, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a various searches that can be initiated by the buyer or by their solicitors which can figure out the risks in Meopham. The standard completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to determine if the property has historically flooded. In the event that the residence has been flooded in past and is not revealed by the owner, then a buyer could bring a legal claim for losses resulting from an incorrect answer. The purchaser’s solicitors may also conduct an environmental search. This should higlight if there is any known flood risk. If so, further investigations should be conducted.
Me and my brother purchased a semi-detached Georgian house in Meopham. Conveyancing practitioner acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Meopham and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
I'm buying my first flat in Meopham with the aid of help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not disclose to my conveyancer about the extras as it will impact my mortgage with the bank. 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 am looking at a couple of flats in Meopham both have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorates and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
I am the registered owner of a 2 bed flat in Meopham, conveyancing formalities finalised 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Meopham with an extended lease are worth £176,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2105
With only 79 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.