I happen to be the single beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in Sherwood. The Sherwood property was put into my name in December. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership could be considered the same way as if I'd bought the house in December. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. many lenders would take a practical view as this clause is primarily there to capture the purchase and immediately sell or the quick reselling of property.
When it comes to lenders such as Clydesdale, do Sherwood lawyers face a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
After shopping around on the internet I have found a Sherwood solicitor having made sure that they are on the Co-operative conveyancing panel. Does my lawyer arrange the survey of the property?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Sherwood postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Sherwood.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial land in Sherwood?
Its becoming the norm that commercial conveyancing solicitors in Sherwood will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Sherwood. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Sherwood.
For each commercial conveyancing transaction in Sherwood it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Sherwood commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Sherwood.
Due to the input of my in-laws I had a survey completed on a property in Sherwood prior to retaining lawyers. I have been told that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend refuse to grant a loan on such a home.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Sherwood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sherwood to see if the conveyancing will be more expensive.
Do I need to be suspicious about brokers that I am dealing with are suggesting a web based conveyancing firm rather than a local Sherwood conveyancing firm?
As is the case with lots of professional services, often recommendations from family and friends can be worth their weight in gold. But there are lots of players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies might all put forward lawyers to appoint. On occasion these conveyancers might be known to one of the organisations as being good in their field, but occasionally there may be a commercial relationship behind the endorsement. You are free to choose your own lawyer. You need to be aware that some banks specify a panel list of law firms you have to use for the mortgage aspect of your conveyancing.
In my capacity as executor for the will of my father I am disposing of a residence in Monmouth but reside in Sherwood. My conveyancer (based 200 miles from merequires that I sign a stat dec prior to completion. Can you recommend a conveyancing practitioner in Sherwood who can attest this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are Sherwood based
I have just started marketing my ground floor flat in Sherwood. Conveyancing is yet to be initiated, but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the maintenance contribution as normal because all ground rent and service invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Sherwood Leasehold Conveyancing - Sample of Queries before Purchasing
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Who are the managing agents? How is the lease structured? On the whole the outlay for major works tend not to be included within maintenance charges, although there some managing agents in Sherwood obliged leaseholders to pay into a sinking fund and this is used to offset against major works.