Completed the sale of my flat in Kingsnorth last December yet the purchaser is e-mailing daily to moan that her lawyer needs to hear from myconveyancer. What are the post completion sale formalities now that I have sold?
Following your disposal your solicitor should forward the transfer documentation and all additional paperwork to the purchaser's lawyers. Where relevant, your conveyancer should also send confirmation that the home loan has been paid off to the buyers conveyancers. There are no post completion steps just for conveyancing in Kingsnorth.
A colleague recommended that if I am buying in Kingsnorth I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Kingsnorth conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Kingsnorth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Kingsnorth.
3 months have gone by since my purchase conveyancing in Kingsnorth took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Kingsnorth ahead of instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies will not issue a loan on this type of property.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kingsnorth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kingsnorth to see if the conveyancing costs will increase in light of this.
Do you have any top tips for leasehold conveyancing in Kingsnorth with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Kingsnorth can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers’ lawyers. The majority of landlords or Management Companies in Kingsnorth levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Kingsnorth. Some Kingsnorth leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 solicitors. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
Kingsnorth Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
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Generally speaking the cost for major works tend not to be incorporated into the service charges, albeit that some managing agents in Kingsnorth obliged tenants to contribute towards a reserve fund and this is used to offset against larger works. The best form of lease arrangement is a share of the freehold. In this arrangement the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is usually retained if the building is larger than a house conversion, the managing agent employed by the leaseholders.
I have just placed an offer on an apartment in Kingsnorth and the mortgage adviser that we are using recommended his conveyancer. She quoted £800 including VAT and disbursements. Does this sound reasonable?
Don't just go on a single estimate. One should obtain like-for-like quotes for your conveyancing in Kingsnorth. Then select one that you are comfortable with and crucially, is on the approved list of the mortgage company that you are sourcing your mortgage from.