Am I correct in assuming that the fact that my conveyancer in Stapleford is not on my lender's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Stapleford conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
The owners of the property we are purchasing hired a conveyancing solicitor in Stapleford who has insisted on a preliminary contract with a deposit 6,000. Are such agreements sensible?
Exclusivity agreements are contracts binding a home vendor and purchaser giving the buyer a ‘clear field’ to purchase the property for a set period of time. Essentially, an exclusivity agreement is a contract stating that you should receive a contract at a later date being the main conveyancing contract. It tends to be used for buyer assurance though in some cases, the proprietor may enjoy an upside from such agreements as well. There are numerous positives and negatives to having them but you need to check with your conveyancer but note that it may result in costing you extra in conveyancing charges. For these reasons these contracts are rare when it comes to conveyancing in Stapleford.
Will our conveyancer be raising questions regarding flooding during the conveyancing in Stapleford.
Flooding is a growing risk for lawyers dealing with homes in Stapleford. There are those who purchase a property in Stapleford, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a number of checks that can be initiated by the purchaser or by their conveyancers which will figure out the risks in Stapleford. The conventional set of property information forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to find out whether the property has historically flooded. In the event that flooding has previously occurred and is not disclosed by the owner, then a purchaser may issue a compensation claim as a result of such an misleading reply. A purchaser’s solicitors should also order an environmental report. This will disclose whether there is a recorded flood risk. If so, more detailed investigations should be made.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who conducted the conveyancing in Stapleford 5 years ago no longer exist. What do I do?
In today’s world there are copies made of almost everything, and your conveyancer should be aware exactly where to locate all the relevant paperwork so you can purchase or sell your property without a hitch. Where copies are not available, your solicitor may be able to put in place insurance or indemnities protecting you against future claims on your premises.
If all goes to plan we aim to complete our sale of a £175,000 maisonette in Stapleford in just under a week. The management company has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Stapleford?
Stapleford conveyancing on leasehold maisonettes normally results in fees being levied by managing agents :
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Completing conveyancing due diligence questions
Where consent is required before sale in Stapleford
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Stapleford Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
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How much is the ground rent and service charge? This information is useful as a) areas could result in problems for the block as the common areas may start to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the managing agents you will want to have full disclosure Most Stapleford leasehold flats will incur a service charge for the upkeep of the block set by the landlord. Where you buy the apartment you will have to meet this contribution, usually in instalments accross the year. This could differ from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a rentcharge for you to pay yearly, normally this is not a large amount, say about £50-£100 but you should to enquire it because sometimes it can be many hundreds of pounds.
Partway through the sale of a leasehold flat in Stapleford. Conveyancing is fine but we have been asked to pay an extortionate amount by the landlord. So far we have issued a cheque for £225 for a leasehold management information and then a further £200 plus VAT for additional questions raised by the purchaser's lawyer.
You will not have control over the level of the charges for this information but the average fee for the information for Stapleford leasehold premises is £360. When it comes to Stapleford conveyancing deals it is standard for the vendor to cover the charges. The landlord or their agents are not duty bound to address such questions although many will agree to do so - albeit often at exorbitant prices disproportionate to the work involved. Unfortunately there is no law that mandates capped charges for administrative tasks. There is no legal time limit by which they are duty bound to supply the information.