We are due to complete on the purchase of a property in Birchington but as a consequence of damage from the recent storms I have managed to agree recompense from the vendor in the sum of £2k in the form of a deduction in the price. This was going to be dealt with as part of the conveyancing process yet Yorkshire BS will not permit this. Should they have been approached?
Your property lawyer being on the Yorkshire BS conveyancing panel is duty bound to disclose to Yorkshire BS of any amendments to the purchase price. If you prohibit your solicitor to report the price change to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new lawyer for your conveyancing in Birchington.
It is a dozen years since I purchased my home in Birchington. Conveyancing lawyers have just been retained on the sale but I am unable to find my deeds. Is this a major issue?
Don’t worry too much. Firstly the deeds may be with your lender or they may be in the possession of the conveyancers who handled your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Birchington relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.
4 months have elapsed since my purchase conveyancing in Birchington completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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.
How does conveyancing in Birchington differ for newly converted properties?
Most buyers of new build residence in Birchington contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Birchington tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Birchington or who has acted in the same development.
I work for a long established estate agency in Birchington where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Birchington conveyancing firms. Could you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Birchington Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
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Make sure you investigate if there are any onerous restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Birchington. If you like the flatin Birchington but your dog can’t live with you then you will be presented with a difficult decision. Is anyone aware of any major works in the planning that could increase the maintenance charges? The answer will be useful as a) areas could cause problems for the building as the common areas may begin to deteriorate where repairs are not paid for b) if the tenants have an issue with the running of the building you will wish to have all the details
Our conveyancer in Birchington has informed me that he requires proof of ID documents asserting that this is part of his requirements as a solicitor on the bank Conveyancing panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Birchington conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the lender's UK Finance Lenders’ Handbook requirements