Me and my partner are soon to complete on the purchase of a property in Alston but as a consequence of wreckage from some water damage at the property I have was able negotiate reparation from the vendor of £3k taking the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process but Principality will not permit this. Should they have been informed?
The conveyancing practitioner that is on a Principality conveyancing panel is required to inform Principality of any changes to the sale price. If you were to refuse your conveyancer to report the reduction to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new lawyer for your conveyancing in Alston.
My bid for a property was accepted at auction in Alston. Conveyancing is required. What happens now?
Now that you are exchanged you should choose a conveyancing lawyer soon as you now have a pending a fixed date to complete the purchase. All auction property should have a corresponding legal set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You need to give this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding in order to complete on the on the contractual date .
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in Alston. Do I collect the keys to the property on the completion date from my solicitor? If so, I will find a High Street conveyancing solicitor in Alston?
On the day of completion you will not be required to attend the conveyancers office in Alston. Your solicitors will arrange to send the purchase money to the seller's solicitors, and once they have received this, you should be able to pick up the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
My wife and I are in the process of looking at houses in Alston and I am about to put in an offer. Should I already have a conveyancer in place at this stage? I am planning to take a mortgage with Principality.
It would be prudent to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are taking out a mortgage with Principality, make sure you remember to check that your lawyer is on the Principality conveyancing panel.
We are intent on selling our home in Alston and according to the buyers it appears that there is a risk of it being built on contaminated land. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers used an internet conveyancing outfit as opposed to a conveyancing solicitor in Alston. Having lived in Alston for three years we know of no issue. Do we contact our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in Alston I like with open areas and transport links nearby, the downside is that it only has 49 years unexpired on the lease. There is not much else in Alston in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage that many years may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Should I be concerned that estate agents that I am dealing with are suggesting a national conveyancing firm as opposed to a High Street Alston conveyancing practice?
As with lots of service providers, often referrals from relatives can be worth their weight in gold. Yet there are lots of players in a conveyancing deal; estate agents, financial adviser and banks may suggest solicitors to use. Sometimes the lawyers might be known to one of the organisations as being good in their field, but sometimes there might be a commercial relationship behind the endorsement. You have the discretion to choose your own conveyancer. You need to be aware that the majority of lenders operate an approved list of lawyers you must use for the lender related work in your conveyancing.
I am intending to sublet my leasehold apartment in Alston. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
The lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Alston do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Alston Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
What is the yearly service fee and ground rent? Make sure you enquire if there are any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Alston. If you love the propertyin Alston however your dog is not allowed to live with you then you will be faced difficult compromise. How many of the leaseholders are in arrears for their maintenance charge payments?