At what point does exchange of contracts take place for domestic conveyancing in Llandaff and do I need to attend the conveyancers branch?
Where you are round the corner to our conveyancing solicitors in Llandaff you are welcome to attend to sign documents. However, the firms we recommend offer countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when communicating with you by post or email. The signing of the contract is not when everything is set in stone. Signing on the dotted line simply enables the conveyancer to exchange contracts at the suitable time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Llandaff)to be in the office available at the end of the phone to exchange contracts.
Forgive me if this question is silly but I am new to the home moving as a first time buyer of a two bedroom flat in Llandaff. Do I pick up the keys to the premises on completion from my solicitor? If so, I will use a local conveyancing solicitor in Llandaff?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s conveyancers, and shortly after the monies have arrived, you should be able to collect the keys from the property Agents and start moving into the property. Usually this occurs early afternoon.
I am selling my flat. I had a double glazing fitted in March 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Bank of Ireland are being difficult. The Llandaff solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase house in Llandaff. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Llandaff conveyancer is on the Coventry BS conveyancing panel.
Will my solicitor be asking questions regarding flooding as part of the conveyancing in Llandaff.
Flooding is a growing risk for conveyancers specialising in conveyancing in Llandaff. Plenty of people will acquire a property in Llandaff, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, but there are a numerous checks that may be undertaken by the buyer or by their conveyancers which will give them a better appreciation of the risks in Llandaff. The conventional set of information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to determine if the property has ever been flooded. In the event that the property has been flooded in past and is not notified by the vendor, then a buyer may issue a claim for damages as a result of such an misleading reply. A purchaser’s solicitors may also commission an environmental search. This will indicate whether there is a recorded flood risk. If so, additional investigations will need to be conducted.
It has been 3 months following my purchase conveyancing in Llandaff completed. I have checked the Land Registry site 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 property 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.
About to purchase a new build flat in Llandaff. Conveyancing is a frightening process 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.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Llandaff
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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Llandaff I like with amenity areas and transport links nearby, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Llandaff in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.