Should our conveyancer be raising enquiries about flooding as part of the conveyancing in Looe.
Flooding is a growing risk for lawyers specialising in conveyancing in Looe. Plenty of people will acquire a house in Looe, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a various checks that can be undertaken by the purchaser or by their lawyers which can give them a better understanding of the risks in Looe. The conventional set of property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to determine if the premises has historically flooded. In the event that the property has been flooded in past which is not disclosed by the owner, then a buyer could commence a claim for damages resulting from an incorrect answer. A purchaser’s lawyers will also commission an enviro report. This will indicate whether there is a recorded flood risk. If so, additional investigations will need to be initiated.
It has been four months since my purchase conveyancing in Looe concluded. I have checked the Land Registry website 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 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.
How does conveyancing in Looe differ for new build properties?
Most buyers of new build property in Looe contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Looe usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Looe or who has acted in the same development.
I need to retain a conveyancing solicitor for some conveyancing in Looe. I have chance upon a web site which seems to have the ideal offering If there is a chance to get all this stuff completed via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
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?
My wife and I purchased a leasehold house in Looe. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Looe who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Looe conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Looe Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
Generally speaking the outlay for major works are not included within maintenance charges, albeit that some managing agents in Looe obliged leaseholders to pay into a reserve fund and this is used to offset against larger works. How much is the ground rent and service charge?
What is the reason for new build conveyancing in Looe being more expensive?
Buying a brand new home is significantly different from the standard house buying conveyancing in Looe. Firstly developers normally demand contracts to exchange within a tight deadline, so there is a lot of pressure on your lawyer to ensure everything is in order. In addition new build properties frequently necessitate the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage company obligations are also more detailed. Due to the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.