My brother and I have recently acquired a house in Shefford. We have noticed several problems with the property which we believe were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been carried out for conveyancing in Shefford?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Shefford. Conveyancing searches and investigations undertaken during the buying process are designed to help avoid problems. As part of the process, a seller answers a document referred to as a Seller’s Property Information Form. answers provided is misleading, you could possibly take legal action 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 Shefford.
The Shefford conveyancing lawyers that just started acting on my house acquisition in Shefford have without warning closed. They were on acting for me because I had to have a lawyer on the Principality conveyancing panel and my previous Shefford lawyer was not. I cut them a cheque for £250 in advance. What do I do now?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Principality conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
My friend advised me that where I am purchasing in Shefford I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Shefford conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Shefford around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Shefford Education with maps and statistics, Local Amenities and other useful information concerning Shefford.
I'm buying my first flat in Shefford benefiting from help to buy. The developers refused to reduce the price so I negotiated 6k of additionals instead. The sale representative suggested that I not inform my lawyer about this side-deal as it will adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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 into buying my first house which is in Shefford and I am already nervous. I couldn't find anything specific about Shefford. Conveyancing will be needed in due course but do you know about the Shefford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Shefford. In the meantime here are some basic statistics that we found
I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Shefford. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Shefford are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Shefford in which case you should be looking for a Shefford conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
I bought a basement flat in Shefford, conveyancing having been completed in 2005. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Shefford with an extended lease are worth £176,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2105
With 80 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.