Our St Ives solicitor has discovered an inconsistency when comparing the information in the valuation report and what is in the title deeds. My lawyer says that he is duty bound to check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
As I am unsure how the conveyancing process works what is the most important number one tip you can give me regarding purchase conveyancing in St Ives?
You may not hear this from too many lawyers but conveyancing in St Ives and elsewhere in England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there exists an abundance of room for confrontation between you and others involved in the legal transfer of property. E.g., the seller, selling agent and sometimes your bank. Appointing a lawyer for your conveyancing in St Ives an important selection as your conveyancer is your adviser, and is the ONE party in the transaction whose role it is to protect your legal interests and to protect you.
There is a distinct increase of a "blame" culture- someone has to be blamed for the process taking so long. We recommend that you must always trust your solicitor above all other parties in the home moving process.
We are intent on selling our property in St Ives and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed an online conveyancing firm as opposed to a conveyancing solicitor in St Ives. Having lived in St Ives for six years we know of no issue. Should we get in touch with our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
3 months have elapsed since my purchase conveyancing in St Ives concluded. I have checked the Land Registry site which shows that I paid £200,000 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.
I have been on the look out for a flat up to £245,000 and found one round the corner in St Ives I like with amenity areas and railway links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in St Ives suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage that many years will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months 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 current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
What does commercial conveyancing in St Ives cover?
St Ives conveyancing for business premises covers a broad array of services, offered by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.