Finally the sale completed on my house in Sandown last March but our buyer keeps texting every few hours to say her solicitor is waiting to hear from mine. What are the post completion sale formalities following completion?
After completion of your disposal your solicitor is obliged to forward the transfer documentation and all additional paperwork to the purchaser's conveyancer. If applicable, your solicitor should also confirm that the mortgage has been discharged to the purchasers conveyancers. There are no post completion requirements unique to conveyancing in Sandown.
We are purchasing a 4 bedroom semi-detached house in Sandown. Our aim is to carry out a loft conversion at the house.Will the conveyancing process include investigations to see if these alterations are prohibited?
Your property lawyer will review the registered title as conveyancing in Sandown will sometimes reveal restrictions in the title deeds which prohibit categories of works or need the consent of another owner. Certain works call for local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
I happen to be the only beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in Sandown. The Sandown property was put into my name in June. I want to move. I do know about the CML 6 month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the house in June. Do I have to wait 6 months to sell?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view mortgage companies take of it, depend on the mortgage company as this obligation chiefly exists to pick up on the purchase and immediately sell or the flipping of property.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Sandown building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Sandown conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Provided that the conveyancing practitioner is on the lender approved list, they must comply with the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Will my solicitor be raising enquiries regarding flooding as part of the conveyancing in Sandown.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Sandown. Plenty of people will acquire a property in Sandown, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, however there are a numerous checks that may be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Sandown. The standard property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to discover whether the property has ever been flooded. In the event that the premises has been flooded in past and is not disclosed by the owner, then a buyer could bring a claim for damages stemming from an inaccurate answer. A purchaser’s lawyers will also carry out an enviro report. This will indicate whether there is a recorded flood risk. If so, additional inquiries will need to be carried out.
Just had an offer accepted on a new build apartment in Sandown. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Sandown
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared.
I decided to have a survey carried out on a house in Sandown in advance of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some banks may refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Sandown. Conveyancing will be smoother if you use a solicitor in Sandown especially if they are acquainted with such properties in Sandown.
We are considering choosing a web based conveyancer rather than a Sandown conveyancing practice. Am I making a mistake?
Numerous benefits exist in being able to visit a local Sandown conveyancing solicitor for example
- signing papers on short notice
- having one on one explanations of issues you don't understand
- the ability to complain if matters need to addressed
When checking fees, look out for hidden extras. Most decent Sandown high street solicitors give an all-inclusive price. Often online companies appear to offer cheap prices, but have burried 'extras' in the fine print.