My fiancee and I are acquiring our first home. The lawyer has contact usto check if we would like to order extra conveyancing searches. Frankly we in the dark as to what's appropriate for conveyancing in Grove Park
The scope of Grove Park conveyancing searches should be triggered based primarily on the property, the location, the probability of any of these risks, your familiarity of the region and risks, your overall appetite to risk. What matters is that you properly appreciate what information the searches could supply. You may then make a decision if you consider that you need that search. Should you be uncertain, ask the conveyancer to guide you.
I have an AIP. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would much rather use a Grove Park based conveyancing firm?
You should check but the chances are that appoint one of their panel solicitors should you take up the "fee-free" offer. Call the bank and check if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Grove Park.
Will our conveyancer be asking questions about flooding as part of the conveyancing in Grove Park.
The risk of flooding is if increasing concern for solicitors dealing with homes in Grove Park. Some people will buy a house in Grove Park, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell 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 impart advice on flood risk, but there are a number of checks that can be undertaken by the purchaser or by their lawyers which should figure out the risks in Grove Park. The conventional set of property information forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine whether the property has suffered from flooding. In the event that the residence has been flooded in past which is not disclosed by the owner, then a purchaser could issue a claim for damages as a result of such an incorrect reply. A buyer’s lawyers should also carry out an enviro report. This should disclose if there is a recorded flood risk. If so, additional investigations will need to be made.
three months have elapsed since my purchase conveyancing in Grove Park concluded. 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 asset 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.
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Grove Park I like with open areas and railway links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Grove Park for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the amount the 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 can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
We're new to the buying process - agreed a price, but the property agent informed us that the seller will only proceed if we appoint their preferred conveyancers as they need an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Grove Park
We suspect that the seller is not behind this demand. Should the owner desire ‘a quick sale', alienating a serious buyer is is going to put the whole deal at risk. Contact the sellers directly and make the point that (a)you are genuine purchasers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Grove Park conveyancing lawyers - rather thanthose that will earn their estate agent a kickback or hit his conveyancing thresholds pre-set by HQ.