I have been told that property searches are the main cause of delay in Sanderstead house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Sanderstead.
2 months have elapsed following my purchase conveyancing in Sanderstead took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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 premises 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.
I'm purchasing a new build house in Sanderstead benefiting from help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not reveal to my lawyer about the deal as it could adversely affect my loan with Yorkshire Building Society. Do I keep my lawyer in the dark?.
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've recently bought a leasehold house in Sanderstead. Do I have any liability for service charges for periods before completion of my purchase?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Sanderstead. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Freehold Enfranchisement decision for a Sanderstead property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The unexpired term was 78.32 years.
The conveyancing solicitors conducting our conveyancing in Sanderstead has sent papers to review that reveal that the property is unregistered with epitome documents. Surely all property in Sanderstead are registered?
It is unusual for premises in Sanderstead to be unregistered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Sanderstead conveyancing lawyers will be capable of dealing with this type of conveyancing but if any uncertainty reigns the conventional guidance presently is for the current owners to register the title first and thereafter deal with the sale conveyance - this will have a domino effect to result in a drawn-out conveyancing.