Me and my fiancee are buying our first house. Our property lawyer has contact usto check if we wish to order extra conveyancing searches. Frankly we are clueless as to what's appropriate for conveyancing in Pangbourne
The extent of Pangbourne conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What matters is that you adequately understand what information the searches could give you. Then you can make a decision if you consider that you need that search. Should you be unclear, ask the property lawyer to recommend.
What does my ID and proof of funds have anything to do with my conveyancing in Pangbourne? What am I being asked for?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with before they can accept their conveyancing business. The Terms of Engagement that you are required to sign should stipulate this. Your lender will also require certain documents to be viewed. If you refuse to provide ID verification documents, your lawyer will not be able to take you on as a client.
It has been 2 months since my purchase conveyancing in Pangbourne concluded. I have checked the Land Registry site which shows that I paid £150,000 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 easy is it to switch conveyancer as I have to appoint one who is on the Leeds Building Society conveyancing list. I had appointed a family conveyancing solicitor in Pangbourne round the corner but he is not accepted by Leeds Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Pangbourne on the Leeds Building Society panel. Please note that the solicitors that we work with do not pay us fee if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Pangbourne. Using search facility on this page, you can compare fees for conveyancing solicitors in Pangbourne and throughout England and Wales.
I work for a busy estate agency in Pangbourne where we have witnessed a few flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Pangbourne conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Pangbourne - A selection of Queries Prior to Purchasing
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It would be sensible to discover if the the lease contains any unreasonable restrictions in the lease. By way of example it is reasonably common in Pangbourne leases that pets are not permitted in certain buildings in Pangbourne. If you like the flatin Pangbourne but your dog can’t live with you then you will be faced hard choice. Who are the managing agents? The answer will be useful as a) areas can cause problems in the building as the communal areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have full disclosure
I have miscalculated my finances and am a few grand short a 10% deposit on my flat purchase in Pangbourne , but I still want to proceed. What can I do?
One option is to try and agree a lower deposit. Many vendors will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute