Why do I have to pay up front for conveyancing in Victoria Docks?
If you are buying a property in Victoria Docks your lawyer will ask you to provide them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the purchase price then this will be asked for immediately prior to contracts are exchanged. The closing balance that is due should be transferred a few days prior to the completion date.
Will our lawyer be raising questions regarding flooding during the conveyancing in Victoria Docks.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Victoria Docks. There are those who purchase a house in Victoria Docks, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a various checks that may be carried out by the purchaser or by their conveyancers which should figure out the risks in Victoria Docks. The standard information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to determine if the property has suffered from flooding. In the event that the premises has been flooded in past which is not disclosed by the vendor, then a buyer could issue a legal claim for losses resulting from an misleading response. The buyer’s solicitors will also order an environmental search. This should higlight whether there is any known flood risk. If so, additional investigations should be made.
4 months have gone by since my purchase conveyancing in Victoria Docks completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
About to purchase a new build apartment in Victoria Docks. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Victoria Docks
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Victoria Docks. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Victoria Docks are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Victoria Docks in which case you should be shopping around for a Victoria Docks conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.
We have reached the end of our tether in trying to purchase the freehold in Victoria Docks. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the premium.
An example of a Lease Extension decision for a Victoria Docks property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The unexpired residue of the current lease was 69.77 years.
Is planning consent needed to change a single dwelling into two appartments in Victoria Docks? This has occurred to a property opposite to my home in Victoria Docks and was unaware of it happening until after the works were done.
Planning permission is required for converting a single house in Victoria Docks into apartments but probably not for reverting once again to single dwelling-house so, in answer to your question, yes.