My wife and I have lately acquired a property in Crabtree. We have noticed several issues with the property which we consider were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been ordered for conveyancing in Crabtree?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Crabtree. Conveyancing searches and investigations initiated as part of the buying process are designed to help avoid problems. As part of the process, a seller fills in a form called a Seller’s Property Information Form. If the information proves to be incorrect, you may have a misrepresentation claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Crabtree.
Finally the sale completed on my house in Crabtree last October yet the purchaser is texting every few hours complaining that her solicitor needs to hear from mysolicitor. What should my lawyer have done following completion?
After completion of your house sale your lawyer is obliged to deliver the transfer documentation and all of the paperwork to the purchaser's solicitors. Depending on the transaction, your lawyer must also send confirmation that the home loan has been redeemed to the purchasers conveyancers. There are no post completion formalities peculiar conveyancing in Crabtree.
Various internet forums that I have visited warn that are the primary reason for obstruction in Crabtree house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Crabtree.
I'm buying my first flat in Crabtree benefiting from help to buy. The sellers refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not reveal to my conveyancer about this deal as it may adversely affect my loan with Chelsea Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
We are 14 days into a freehold purchase having been directed to conveyancers by the estate agent to handle our conveyancing in Crabtree. I am am starting to be disappointed with the level of service. Can you help me find new solicitors?
They would have to be very poor in order to consider diss instructing them. Has your mortgage offer been sent? If so you must make them aware of the new contact details and have the offer are re-sent. The solicitor ideally needs to be on the banks panel to avoid escalating fees and delays. So that should be your first question of the new lawyers. Our find a solicitor tool will assist you in finding a bank approved lawyer for your home move in Crabtree
What makes a Crabtree lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Crabtree. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I am the registered owner of a split level flat in Crabtree, conveyancing formalities finalised 10 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Crabtree with an extended lease are worth £165,000. The ground rent is £50 per annum. The lease finishes on 21st October 2102
You have 77 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.