Completed the sale of my flat in Preston last September but our buyer keeps calling me to moan that his conveyancer is waiting to hear from myconveyancer. What should have happened following completion?
After completion of your sale your solicitor should deliver the transfer deeds and all supplemental paperwork to the buyer’s conveyancer. Where appropriate, your lawyer should also confirm that the mortgage has been paid off to the purchasers conveyancers. There is unlikely to be post completion requirements just for conveyancing in Preston.
We are purchasing a house in Preston. It might be a silly question but how we can trust a solicitor? On the day of competition we have to deposit funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Have just purchased a probate house at auction in Preston. Conveyancing is necessary. What are my next steps?
Now that you are exchanged you should instruct a conveyancing solicitor soon as you will have a tight a drop dead date to complete the deal. All auction property will ordinarily have an associated auction pack. This should include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the auction pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You should hand this to the solicitor instructed by you at the earliest opportunity. Do make sure that that you have the requisite funding organised to complete on the date specified in the contract.
I'm the sole beneficiary of my late mum's will with all property in now in my sole name, including the house in Preston. The Preston property was put into my name in December. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the property in December. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Most mortgage companies would take a sensible view as this obligation primarily exists to capture the purchase and immediately sell or the flipping of property.
Should my solicitor be raising questions regarding flooding during the conveyancing in Preston.
Flooding is a growing risk for conveyancers carrying out conveyancing in Preston. Some people will purchase a house in Preston, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a number of checks that can be undertaken by the buyer or by their lawyers which can give them a better appreciation of the risks in Preston. The standard property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to discover if the property has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a buyer may commence a claim for damages stemming from an incorrect response. A buyer’s conveyancers may also carry out an enviro report. This will reveal whether there is a recorded flood risk. If so, additional investigations will need to be initiated.
Due to the guidance of my in-laws I had a survey completed on a house in Preston ahead of retaining solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies will not issue a loan on this type of house.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Preston. Conveyancing may be slightly more expensive based on your lender's requirements.
How do I search for a Preston law firm on the Birmingham Midshires conveyancing panel? I have a car and am prepared to travel upto 25kilometers to meet the conveyancer.
Feel free to make use of the facility on this page. Please select a mortgage company and your location and you will see a number of Preston conveyancing lawyers locally. We have listed some Preston conveyancing firms at the bottom of this page and you can call them to see whether they are on the Birmingham Midshires member panel
I've recently bought a leasehold house in Preston. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Preston conveyancing firm to act on my behalf?
in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.
An example of a Lease Extension matter before the tribunal for a Preston property is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case related to 1 flat. The unexpired residue of the current lease was 74 years.