The property market in The Hale is heating up. What can I do to speed up matters?
First, If the seller is applying a tight deadline to complete we would recommend that your conveyancer is familiar with the location as they will make use of local connections and know-how. It is even conceivable that they would have transacted previoushouses in the same neighbourhood. Therefore consider using a The Hale conveyancing firm. In addition, double check that the conveyancing firm is on the member panel. It is believed that 18% of The Hale conveyancing deals are suspended or derailed after finding out that a buyer’s lawyer was not on their mortgage lender’s panel. This can often result in the legal transfer of property being frustrated by as much as 21 days. It is believed that this issue impacts in the region of 100,000 home sales every year. Almost all The Hale conveyancing firms can not represent certain banks so do check at the outset.
I am helping my step-mother sell her property in The Hale. Does the conveyancing solicitor commission the energy assessment or do I organise this?
After the demise of Home Information Packs, EPC’s remained a mandatory component of selling a property. An EPC must be commissioned prior to the property being placed on the market. This is not as aspect of the sale process that lawyers ordinarily arrange. Where you are using a The Hale conveyancing practitioner they might help arrange energy performance certificates given their contacts with reputable The Hale accredited person
Intending to buy a maisonette in The Hale. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the The Hale conveyancing practitioner is on the Virgin Money conveyancing panel.
After shopping around on the internet I have found a The Hale conveyancing practitioner having checked that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own The Hale surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will my lawyer be raising questions regarding flooding as part of the conveyancing in The Hale.
The risk of flooding is if increasing concern for lawyers dealing with homes in The Hale. Plenty of people will acquire a house in The Hale, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, but there are a various searches that can be carried out by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in The Hale. The standard information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to discover if the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the vendor, then a purchaser may issue a compensation claim as a result of such an misleading reply. A buyer’s solicitors should also commission an enviro search. This will disclose whether there is any known flood risk. If so, additional investigations should be made.
4 months have elapsed following my purchase conveyancing in The Hale took place. 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 residence 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.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in The Hale I like with open areas and transport links in the vicinity, however it only has 51 years on the lease. There is not much else in The Hale for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.