My grandson is about to exchange on a new build apartment in Gidea Park with a mortgage from Nottingham. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are purchasing a property and require a conveyancing solicitor in Gidea Park who is on the Bank of Ireland approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don't recommend any particular firms conducting conveyancing in Gidea Park.
Should our lawyer be asking questions concerning flooding as part of the conveyancing in Gidea Park.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Gidea Park. There are those who purchase a property in Gidea Park, fully aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a number of checks that can be initiated by the purchaser or by their conveyancers which should give them a better understanding of the risks in Gidea Park. The standard completed inquiry forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the vendor to discover whether the premises has historically flooded. In the event that the property has been flooded in past which is not notified by the vendor, then a buyer may issue a legal claim for losses resulting from an incorrect answer. A buyer’s lawyers should also carry out an enviro report. This should reveal whether there is a recorded flood risk. If so, further inquiries will need to be conducted.
I have justbeen informed that Wolstenholmes have closed. They conducted my conveyancing in Gidea Park for a purchase of a freehold house 18 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Gidea Park conveyancing specialists.
I am looking for a flat up to £195,000 and found one near me in Gidea Park I like with a park and transport links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Gidea Park for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease may be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Being a tenant I am on the hook for a service charge for my flat in Gidea Park. Due to redundancy and other issues I fell into arrears with remittance. I negotiated a payment schedule but there is still three thousand pounds outstanding as of today.
I am under pressure to dispose of the property and I am concerned this may hold me back if I have to settle the amount due now. Do I have to settle before - is this viable?
Your lawyer will hopefully be in a position to negotiate with the appropriate parties, with a new to seeing if they would accept settlement from completion monies. Here is indicative of why it might be good to appoint a conveyancing practitioner in Gidea Park as they may well have an established relationship with the parties.