Should our solicitor be making enquiries concerning flooding as part of the conveyancing in Godmanchester.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Godmanchester. Some people will buy a property in Godmanchester, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a numerous checks that may be carried out by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Godmanchester. The standard information supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to discover if the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the owner, then a purchaser could issue a compensation claim as a result of such an incorrect answer. A buyer’s solicitors will also order an environmental search. This should disclose whether there is any known flood risk. If so, further investigations should be initiated.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Godmanchester is the location of the property. Can you offer any assistance?
Flying freeholds in Godmanchester are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Godmanchester you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Godmanchester may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Do I need to be concerned by estate agents that I am dealing with are suggesting an online conveyancing firm as opposed to a High Street Godmanchester conveyancing firm?
As with many professional services, often referrals from family and friends can be extremely useful or valuable. Nevertheless there are many people with a keen interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may put forward conveyancers to appoint. On occasion these lawyers might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes financial incentive behind the recommendation. You have the discretion to appoint your preferred conveyancer. You need to be aware that many mortgage providers specify a panel list of lawyers you have to use for the lender aspect of your home move.
I am looking for a conveyancing solicitor in Godmanchester for my sale. Is there any facility to see a solicitor's record with the profession’s regulator?
You may read documented Solicitor Regulator Association (SRA) determinations arising from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The regulator may recorded telephone calls for training reasons.
I’m about to sell my basement apartment in Godmanchester. Conveyancing is yet to be initiated, but I have recently had a quarterly service charge demand – what should I do?
The sensible thing to do is clear the service charge as normal given that all ground rent and maintenance invoices will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a leasehold flat in Godmanchester, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Godmanchester with an extended lease are worth £197,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2079
With 55 years unexpired we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
My conveyancer in Godmanchester is asking me for proof of ID documents saying that this is part of his legal duty as a solicitor on the lender Conveyancing panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Godmanchester