We are close to exchanging contracts on the sale of our home in Poole and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers are using an internet conveyancing outfit as opposed to a conveyancing solicitor in Poole. Having lived in Poole for six years we know of no issue. Should we get in touch with our local Authority to seek confirmation need.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You need to check with 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 life insurance to cover that same sickness)
three months have gone by following my purchase conveyancing in Poole completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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.
How does conveyancing in Poole differ for new build properties?
Most buyers of new build or newly converted property in Poole approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Poole tend to buy the real estate, 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 conveyancers 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 Poole or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Poole is where the house is located. Can you offer any guidance?
Flying freeholds in Poole are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Poole you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Poole may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Last October I purchased a leasehold property in Poole. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Poole Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying
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Is the freehold reversion owned collectively by the leaseholders? In the main the outlay for major works tend not to be built into the service charges, although some managing agents in Poole require leasehold owners to pay into a sinking fund and this is used to offset against major repairs or maintenance. You should be aware that where the lease has less than eighty years it will have adverse implications on the value of the apartment. It is worth checking with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you would need to own the property for a couple of years before you are entitled to extend the lease.
Me and my partner are about to complete on the purchase a property in Poole but as a result of wreckage from the recent storms I have negotiated recompense from the owner of £2k taking the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process but my bank will not permit this. Why were they informed?
Any lawyer that is on a lender approved list is obliged to disclose to the mortgage company of any amendments to the sale price. If you did not allow your property lawyer to disclose the price change to your mortgage company then they would have to refrain from representing you and the mortgage company.