My wife and I have recently purchased a house in Onslow Village. We have noticed several problems with the property which we believe were missed in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that should have been carried out for conveyancing in Onslow Village?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Onslow Village. Conveyancing searches and investigations initiated as part of the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, the vendor answers a questionnaire known as a Seller’s Property Information Form. answers ends up being inaccurate, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Onslow Village.
In what way does my ID and proof of funds have anything to do with my conveyancing in Onslow Village? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Onslow Village conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing your correct address.
In accordance with Money Laundering Regulations, property lawyers are required to validate not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this will lead to your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to inform the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
Do I need to take out insurance to cover chancel repairs when acquiring a house in Onslow Village?
Unless a previous purchase of the property completed post 12 October 2013 you can take it that lawyers handling conveyancing in Onslow Village to continue to advocate a chancel search and or insurance against a claim.
3 months have gone by following my purchase conveyancing in Onslow Village completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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 premises 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.
How does conveyancing in Onslow Village differ for newly converted properties?
Most buyers of new build premises in Onslow Village come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Onslow Village usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Onslow Village or who has acted in the same development.
I am looking for a flat up to £305k and identified one round the corner in Onslow Village I like with amenity areas and railway links in the vicinity, however it's only got 52 years on the lease. There is not much else in Onslow Village suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.