Last February we completed a house move in Selhurst. We have since encountered a number of problems with the property which we consider were missed in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been ordered for conveyancing in Selhurst?
The query is not clear as to the nature of the problems and if they are unique to conveyancing in Selhurst. Conveyancing searches and due diligence initiated as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor completes a form referred to as a Seller’s Property Information Form. answers turns out to be incorrect, then you may have a claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Selhurst.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would prefer to appoint a high street conveyancing solicitor in Selhurst?
Do check but the chances are that appoint one of their panel lawyers should you want the "fee-free" deal. Call the mortgage company and explore if they offer you a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Selhurst.
Various online forums that I have frequented warn that are the primary cause of stalling in Selhurst house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Selhurst.
I am purchasing my first flat in Selhurst with a mortgage from Nationwide Building Society. The sellers refused to move on the amount so I negotiated 6k of extras instead. The property agent told me not to tell my conveyancer about this extras as it may impact my mortgage with Nationwide Building Society. 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.
I am looking for a ground for flat up to £195,000 and identified one near me in Selhurst I like with a park and transport links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Selhurst in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My folks are unable to locate their Selhurst property on the HMLR site. They recall that 48 years ago when they bought the property there were complications concerning the post code not being identified on some systems.
Nearly all residences in Selhurst should show up. Have you tried a search to simply the postcode. Usually it should mention all the properties within the postcode. Where registered it will be there with a title number. Where they bought back in the 60’s it's conceivable it may be unregistered. The property might still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title documentation which could be with your parent’s mortgage company.