Finally the sale completed on my house in Red Lodge last March but the buyer keeps Skype messaging every few hours to say their solicitor needs to hear from mylawyer. What are the post completion sale formalities following completion?
After completion of your sale your conveyancer should send the transfer documentation and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your lawyer should also evidence that the mortgage has been redeemed to the buyers solicitors. There are no post completion steps specific conveyancing in Red Lodge.
After scouring consumer advice sites for a high-quality lawyer in Red Lodge, many say that I should use a CQS assured solicitor. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing procedures via the scheme protocol It covers numerous organisations who conduct conveyancing in Red Lodge.
Me and my brother have a renovated Georgian house in Red Lodge. Conveyancing lawyer acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Red Lodge and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing practitioner who conducted the purchase.
I am buying my first flat in Red Lodge with the aid of help to buy. The developers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not to tell my solicitor about this side-deal as it will put at risk my mortgage with the lender. Should I keep quiet?.
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.
Last October I purchased a leasehold property in Red Lodge. Am I liable to pay service charges relating to a period prior to my ownership?
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. A critical element 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).
I purchased a leasehold flat in Red Lodge, conveyancing having been completed August 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Red Lodge with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease expires on 21st October 2101
With 76 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
I'm buying a bungalow in Red Lodge. I have found my conveyancer's company on the Law Society's list, but I can't find my lawyer's name as listed on the regulator's website. Is this a big problem?
Not all staff in the law firm must be listed by the regulator. As long there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unlicensed staff.