Completed the sale of my flat in Erdington last November but the buyer keeps telephoning daily to say her lawyer needs to hear from mine. What should my lawyer have done now that I have sold?
After completion of your sale your solicitor is committed to send the transfer documentation and all supplemental paperwork to the purchaser's lawyers. If applicable, your solicitor should also evidence that the home loan has been paid off to the purchasers lawyers. There are no post completion procedures specific conveyancing in Erdington.
Should my lawyer be asking questions regarding flooding as part of the conveyancing in Erdington.
The risk of flooding is if increasing concern for solicitors dealing with homes in Erdington. Some people will acquire a house in Erdington, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a number of searches that can be undertaken by the purchaser or by their conveyancers which will figure out the risks in Erdington. The standard information supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the owner, then a buyer could issue a legal claim for losses resulting from an incorrect response. The purchaser’s conveyancers should also carry out an enviro report. This will reveal whether there is any known flood risk. If so, further inquiries should be conducted.
It has been 3 months since my purchase conveyancing in Erdington concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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 Erdington differ for newly converted properties?
Most buyers of new build or newly converted property in Erdington come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Erdington usually purchase 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 conveyancing solicitors 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 used to new build conveyancing in Erdington or who has acted in the same development.
Given that I will soon part with hundreds of thousands of pounds on a property in Erdington I would like to have a conversation with the solicitor about myhouse move prior to instructing the firm. Is this something that you can arrange?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you liaising with the solicitor due to be carrying out your property ownership legalities in Erdington.There is no ‘factory style conveyancing’ - each client is unique individual, not a case reference. The practices that we put you in touch with believe that the figure you are provided with for your conveyancing in Erdington should be the figure that you end up paying.
I've recently bought a leasehold flat in Erdington. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 be sure 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).
Leasehold Conveyancing in Erdington - A selection of Questions you should consider Prior to buying
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Who manages the block? Does this lease have more than 80 years remaining? It would be wise to discover as much as you can regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the tidiness of the communal areas. Enquire of other people if they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending the funds.