Our son-in-law is in the process of securing a newly built flat in Canford Cliffs with a mortgage from Santander. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
three months have elapsed since my purchase conveyancing in Canford Cliffs took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 have been on the look out for a flat up to £195,000 and identified one close by in Canford Cliffs I like with a park and railway links nearby, however it only has 61 years unexpired on the lease. I can't really find anything else in Canford Cliffs suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass 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 solicitor concerning this matter.
What is different about your site and alternative internet conveyancing solicitors when it comes to conveyancing in Canford Cliffs?
At this site receive a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Canford Cliffs. As opposed to estate agents and brokerage sites we do not have commission arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors that pays the most per referral, not the best value conveyancing in Canford Cliffs
Can you provide any advice for leasehold conveyancing in Canford Cliffs with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Canford Cliffs can be bypassed if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ representatives. You believe that you know the number of years remaining on your lease but you should double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to unresolved. If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Canford Cliffs state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you dont have the approvals to hand do not communicate with the landlord without checking with your lawyer in the first instance. If you hold a share in a the Management Company, you should make sure that you hold the original share document. Organising a replacement share certificate can be a time consuming process and slows down many a Canford Cliffs conveyancing deal. Where a reissued share is needed, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
Canford Cliffs Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying
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How much is the service charge and ground rent on the apartment? Is the freehold reversion owned collectively by the leaseholders? Who are the managing agents?
My conveyancing in Canford Cliffs is set to complete next Friday, however the people I am purchasing from wishes to move out 24 hours later at midday. Do I accept this?
Where you are having a bank loan then your conveyancing practitioner will require that you have vacant possession on Friday - the bank will insist on it.