My bid for a property was accepted at auction in Riddlesdown. Conveyancing is needed. What is next?
Now that you have legally bound yourself to purchase you now have to choose a conveyancing solicitor soon as you will have a tight deadline in which to complete the purchase. Every auction property will have a bespoke legal set of papers. This will include most,if not all of the documents that your lawyer will need. If you have purchased leasehold premises the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You should give this to the lawyer instructed by you ASAP. Do make sure that your finances are organised to complete the transaction on the set completion date.
How can we tell if a Riddlesdown conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Riddlesdown obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your transaction.
I am selling my house. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being a right pain. The Riddlesdown solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Should my lawyer be raising questions regarding flooding as part of the conveyancing in Riddlesdown.
Flooding is a growing risk for lawyers specialising in conveyancing in Riddlesdown. There are those who buy a property in Riddlesdown, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous checks that can be undertaken by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Riddlesdown. The standard completed inquiry forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to determine if the premises has suffered from flooding. In the event that the premises has been flooded in past and is not notified by the owner, then a buyer could issue a legal claim for losses as a result of such an incorrect answer. A purchaser’s solicitors may also order an environmental search. This should indicate whether there is a recorded flood risk. If so, more detailed inquiries will need to be conducted.
Are there restrictive covenants that are commonly identified as part of conveyancing in Riddlesdown?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Riddlesdown. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Riddlesdown differ for new build properties?
Most buyers of new build premises in Riddlesdown come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Riddlesdown tend to acquire the land, 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 conveyancing solicitors 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 Riddlesdown or who has acted in the same development.
I am looking for a flat up to £245,000 and found one near me in Riddlesdown I like with a park and transport links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Riddlesdown for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan the shortness of the lease will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
We have been told by many estate agents that it may take 6-8 weeks for Riddlesdown conveyancing to complete.This was 3 ago. The property information was only sent to my conveyancing practitioner last week so does the clock start running now?
Don't bank on moving on a certain date until contracts are exchanged. Whatever assurances the people you are acquiring from or selling to make, or your estate agent gives don't count on them. More stress is caused to clients trying to move home by false promises than anything else.