I am buying a garden flat in Saffron Walden. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Saffron Walden you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Saffron Walden.
4 months have gone by following my purchase conveyancing in Saffron Walden concluded. 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 premises 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.
Just had an offer accepted on a new build flat in Saffron Walden. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Saffron Walden
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I opted to have a survey completed on a house in Saffron Walden prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies will not give a loan on such a house.
It depends who your proposed lender is. HSBC has different requirements from Halifax. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Saffron Walden. Conveyancing will be smoother if you use a solicitor in Saffron Walden especially if they are accustomed to such properties in Saffron Walden.
My husband and I are novice buyers - agreed a price, but the agent informed us that the owners will only issue a contract if we instruct the agent's recommended conveyancers as they are insisting on a ‘quick sale’. We would rather use a local solicitor who is accustomed to conveyancing in Saffron Walden
We suspect that the owner is not behind this demand. Should the seller desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the owners and make sure they understand (a)you are keen to buy (b)you are ready to go, with finances arranged © you do not need to sell (d) you intend to proceed fast (e)but you are going to appoint your own,trusted Saffron Walden conveyancing solicitors - as opposed tothe ones that will give the negotiator at the agency a kickback or meet his conveyancing targets pre-set by HQ.
I've recently bought a leasehold house in Saffron Walden. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Saffron Walden - Examples of Questions you should ask before Purchasing
How many years are left on the lease? It is important to be aware whether window replacement or some other significant cost is coming up that will be shared between the leaseholders and will materially increase the the maintenance charges or result in a specific invoice. Generally speaking the outlay for major works are not built into the maintenance charges, albeit that a few managing agents in Saffron Walden ask leasehold owners to contribute towards a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance.