Will my lawyer be making enquiries concerning flooding during the conveyancing in Rayleigh.
Flooding is a growing risk for lawyers dealing with homes in Rayleigh. Plenty of people will purchase a house in Rayleigh, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a number of searches that may be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Rayleigh. The conventional set of completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the owner to discover if the property has historically flooded. If the residence has been flooded in past which is not notified by the vendor, then a purchaser could bring a legal claim for losses resulting from an incorrect response. The buyer’s conveyancers should also commission an enviro search. This will indicate if there is any known flood risk. If so, further inquiries will need to be made.
five months have gone by following my purchase conveyancing in Rayleigh took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Rayleigh is where the house is located. What do you suggest?
Flying freeholds in Rayleigh are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Rayleigh you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rayleigh may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We're first time buyers - had an offer accepted, yet the estate agent told us that the vendor will only issue a contract if we instruct their chosen conveyancers as they want a ‘quick sale’. Our preferred option is to instruct a family conveyancer who is familiar with conveyancing in Rayleigh
It is improbable the vendors are driving this. Should the seller want ‘a quick sale', taking such a hostile approach to a serious buyer is likely to cause more damage than good. Avoid the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you will continue to appoint your own,trusted Rayleigh conveyancing firm - not the ones that will give the negotiator at the agency a introducer fee or achieve conveyancing targets pre-set by head office.
Having had my offer accepted I require leasehold conveyancing in Rayleigh. Before I get started I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Rayleigh - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Rayleigh - Examples of Queries Prior to Purchasing
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Is the freehold reversion owned jointly by the leaseholders? How much is the ground rent and service charge? What is the name of the managing agents?
We have an offer in principle from Leeds Building Society who have advised we could borrow up to £350k. At what point do I need to appoint a lawyer for conveyancing? Rayleigh is where we are buying.
It would be wise to appoint a conveyancing practitioner now so that the property lawyer can open the ledger so they can commence their AML checks etc. Once you wish them to commence work you will be asked for a deposit normally about £200. That should normally be once you have the mortgage offer and survey results, however should you want to speed the process you can start quicker albeit risking some expense.