I am purchasing a property mortgage free in Grove Park. I have lived for the last Seventeen years in Grove Park. Conveyancing searches are exorbitant. Given that I have knowledge of the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the Grove Park conveyancing searches are optional. Your conveyancer will 'advise', no-doubt strongly, that you should have searches done, but he has a professional duty to do this. One thing to consider; if you are going to dispose of the house one day, it may be of interest to your future buyer what the searches contain. There are plenty of instances where premises with functional issues can still reveal adverse search results. A good conveyancing solicitor in Grove Park will be able to give you some helpful guidance in this regard.
In what way does my ID and proof of funds have anything to do with my conveyancing in Grove Park? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Grove Park conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing where you live.
Under Money Laundering Regulations, conveyancers are duty bound to check not simply the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. An unwillingness to disclose this will lead to your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to make a disclosure to the relevant authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
My wife and I have recently appointed a conveyancing solicitor in Grove Park. I I would like to check if they are accepted on the Coventry Building Society approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should e-mail your solicitor and ask them whether they are on the lender panel. Otherwise you can call Coventry Building Society who may be able to confirm.
I have been told that property searches are the main cause of stalling in Grove Park conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Grove Park.
I need to find a conveyancing solicitor for freehold conveyancing in Grove Park. I happened to chance upon a site which looks to be the ideal solution If it is possible to get all the legals done via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do you have any top tips for leasehold conveyancing in Grove Park from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Grove Park can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers. You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. A minority of Grove Park leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Grove Park state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such changes. If you dont have the paperwork to hand do not contact the landlord without checking with your lawyer in advance.
I am the registered owner of a ground-floor 1950’s flat in Grove Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Grove Park flat is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case was in relation to 1 flat. The unexpired residue of the current lease was 23.26 years.