Completed the sale of my flat in Caddington last September but my buyer keeps SMS messaging daily to say his solicitor is waiting to hear from mine. What should have happened now that I have sold?
After completion of your disposal your conveyancer should forward the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where relevant, your lawyer should also confirm that the home loan has been discharged to the purchasers lawyers. There are no post completion tasks just for conveyancing in Caddington.
I am purchasing a right to buy a flat in Caddington. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Caddington you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Caddington.
My relative recommended that if I am buying in Caddington I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Caddington conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Caddington around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Caddington Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Caddington.
five months have elapsed since my purchase conveyancing in Caddington took place. I have checked the Land Registry site which shows that I paid £200,000 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.
I opted to have a survey completed on a house in Caddington ahead of retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some banks tend refuse to give a mortgage on such a home.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Caddington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Caddington to see if the conveyancing costs will increase in light of this.
I've recently bought a leasehold flat in Caddington. Am I liable to pay service charges for periods before my ownership?
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. It is an essential part 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).
Caddington Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
If a Caddington lease has less than eighty years it will impact the salability of the property. It is worth checking with your bank that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you will need to own the premises for a couple of years in order to be legally able to extend the lease. It is important to be aware whether a new roof is being put on or some other major work is due shortly that will be shared by the leaseholders and will materially increase the the maintenance charges or result in a one time invoice. Who takes charge for maintaining and repairing the building?