Will my conveyancer be asking questions regarding flooding as part of the conveyancing in St Davids.
The risk of flooding is if increasing concern for lawyers dealing with homes in St Davids. There are those who purchase a property in St Davids, 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 get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a numerous checks that may be carried out by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in St Davids. The conventional set of completed inquiry forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to discover whether the premises has suffered from flooding. If the residence has been flooded in past and is not revealed by the vendor, then a purchaser could issue a compensation claim as a result of such an misleading reply. The buyer’s lawyers will also order an environmental report. This will indicate if there is a recorded flood risk. If so, more detailed investigations should be conducted.
I decided to have a survey carried out on a house in St Davids in advance of appointing conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks tend refuse to grant a loan on such a premises.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in St Davids. Conveyancing will be smoother if you use a solicitor in St Davids especially if they are acquainted with such properties in St Davids.
Do I need to be wary about third parties that I am dealing with are recommending an internet conveyancing firm rather than a local St Davids conveyancing firm?
As is the case with many service providers, often recommendations from connections can be extremely useful or valuable. But there are lots of parties with a keen interest in a conveyancing matter; estate agents, financial adviser and lenders may suggest conveyancers to instruct. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the recommendation. You are free to select your preferred conveyancer. Don't forget that many banks operate an approved list of law firms you must use for the lender aspect of your transaction.
We're first time buyers - had an offer accepted, but the selling agent informed us that the owners will only go ahead if we appoint their recommended solicitors as they want a ‘quick sale’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in St Davids
We suspect that the owner is not behind this requirement. Should the seller desire ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Contact the sellers directly and explain that (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to appoint your preferred St Davids conveyancing solicitors - as opposed tothose that will give the negotiator at the agency a introducer fee or achieve conveyancing targets set by head office.
Last March I purchased a leasehold flat in St Davids. Do I have any liability for service charges for periods before 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
St Davids Leasehold Conveyancing - Sample of Queries Prior to buying
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Is anyone aware of any major works in the planning that will increase the service charges? How much is the ground rent and service charge? It is important to be aware if window replacement or some other significant cost is due in the foreseeable future to be shared by the leaseholders and will materially impact the level of the service charges or result in a specific invoice.
How and when do I pay stamp duty chargeable for my conveyancing in St Davids?
Your property lawyer should complete a stamp duty return on your behalf as part of your St Davids purchase transaction for you to sign. After completion your conveyancing practitioner will submit the Land Transaction Return Form to the Inland Revenue and - assuming they have the money - settle any Stamp Duty liability on your behalf.