Our nephew is purchasing a newly built flat in Kingswood with a home loan from Yorkshire BS. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Yorkshire BS conveyancing panel as a standard part of the process, and to the valuer when requested. 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 Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As someone unfamiliar with conveyancing in Kingswood what is your top tip you can give me concerning the legal transfer of property in Kingswood
You may not hear this from too many lawyers but conveyancing in Kingswood or throughout Gloucestershire is an adversarial experience. In other words, when it comes to conveyancing there exists plenty of opportunity for conflict between you and others involved in the legal transfer of property. For example, the vendor, selling agent and sometimes a mortgage company. Appointing a lawyer for your conveyancing in Kingswood is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose responsibility is to act in your legal interests and to protect you.
Sometimes a potential adversary will try and convince you that you should follow their advice. For instance, the estate agent may claim to be assisting by suggesting your solicitor is slow. Or your financial adviser may advise you to do something that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties in the conveyancing process.
It has been five months since my purchase conveyancing in Kingswood completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 residence 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.
I am buying a new build apartment in Kingswood. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Kingswood
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.
There are only 62 years unexpired on my flat in Kingswood. I am keen to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations a specialist would be helpful to try and locate and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court overseeing Kingswood.
Leasehold Conveyancing in Kingswood - Examples of Questions you should ask Prior to Purchasing
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Is the freehold reversion owned collectively by the leaseholders? How many of the leaseholders are in arrears for their maintenance charge payments? In the main the cost for major works tend not to be incorporated into the service charges, albeit that a few managing agents in Kingswood ask tenants to contribute towards a sinking fund created for the specific purpose of building a fund for larger works.
What type of premises does your Kingswood conveyancing quotes relate to?
Our conveyancing quotes are only relevant to standard residential homes in England & Wales. Should you have any different needs such as industrial or agricultural land or commercial conveyancing in Kingswood you should telephone us to address this further .