Should commercial conveyancing searches disclose proposed roadworks that could impact a commercial estate in Canvey Island?
Its becoming the norm that commercial conveyancing solicitors in Canvey Island will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Canvey Island. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Canvey Island.
For each commercial conveyancing transaction in Canvey Island it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Canvey Island commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Canvey Island.
It has been 4 months since my purchase conveyancing in Canvey Island completed. 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 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 am buying my first flat in Canvey Island with a mortgage from TSB. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my solicitor about this extras as it would affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a conveyancing practitioner in Canvey Island for my home move. Is there any facility to see a firm’s record with the legal regulator?
Members of the public may search for published Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA may monitor call for training reasons.
Can you provide any top tips for leasehold conveyancing in Canvey Island with the purpose of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Canvey Island can be avoided if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors. You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing. Many landlords or Management Companies in Canvey Island levy fees for providing management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Canvey Island.
Canvey Island Leasehold Conveyancing - Examples of Questions you should ask before buying
-
Who manages the block? Best to be warned whether a new roof is being installed or some other significant cost is pending that will be shared amongst the tenants and will dramatically increase the the service charges or necessitate a specific payment. You should be aware that where the lease has no more than 80 years it will have adverse implications on the value of the apartment. It is worth checking with your lender that they are willing to to proceed given the lease term. A short lease means that you will probably require a lease extension sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you will need to own the property for a couple of years in order to be legally able to exercise a lease extension.
Do I stop the direct debit for my mortgage with Clydesdale once a completion date for my sale in Canvey Island has been agreed?
You are best advised to keep paying any mortgage payments to Clydesdale pending the mortgage being repaid on completion as part of your Canvey Island conveyancing.