My partner and I are close to exchanging contracts on the sale of our house in Limbury and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local conveyancer would know this is not the case. For the life of me I don't know why the purchasers are using a factory type conveyancing practice rather than a conveyancing solicitor in Limbury. We have lived in Limbury for many years we know that this is a non issue. Is it a good idea to contact our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
three months have elapsed following my purchase conveyancing in Limbury took place. I have checked the Land Registry site which shows that I paid £175,000 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'm buying a new build house in Limbury with a mortgage from Accord Mortgages Ltd. The sellers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not reveal to my solicitor about the deal as it would impact my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey done on a property in Limbury prior to retaining solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may not give a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Limbury. Conveyancing may be slightly more expensive based on your lender's requirements.
Planning to sign contracts shortly on a ground floor flat in Limbury. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Limbury should include some of the following:
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The unexpired lease term. You should receive guidance as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years What options are open to you if a neighbour breaches a clause of their lease? Who has the liability to repair and maintain the building. It is important for you to know who is duty bound to repair and maintenance of all parts of the block and communal areas An explanation as to the provision as set out in the lease to to contribute towards maintenance costs - with regard to both the building, and the wider rights a leaseholder has Repair and maintenance of the premises
Limbury Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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The majority of Limbury leasehold properties will be liable to pay a service charge for the upkeep of the building set on behalf of the landlord. If you acquire the flat you will have to meet this charge, usually in instalments during the year. This may vary from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a exorbitant sum, say about £50-£100 but you need to enquire as on occasion it could be surprisingly expensive. This information is important as a) areas can cause problems in the building as the common areas may begin to deteriorate if repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to have complete disclosure
I pay a maintenance fee for my appartment in Limbury. As a result of personal circumstances I fell into arrears with payments. The managing agents agreed a settlement plan but there remains approximately £3000 currently due.
I am under pressure to dispose of the property and I am concerned this could jeopardize the sale if I have to pay off the arrears in advance. I'd like to sell up and subsequently discharge the debt from the proceeds - is this possible?
Your conveyancing practitioner should be in a position to negotiate with the appropriate parties, with a new to seeing if they would accept payment out of the completion monies. Here is an example of why it might be good to appoint a property lawyer in Limbury as they may well enjoy an open line of communication with the management company.