Completed the sale of my flat in Weymouth last July yet the purchaser is Skype messaging me to say his solicitor is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
Following your house sale your solicitor should deliver the transfer deeds and all supplemental paperwork to the buyer’s solicitors. Where appropriate, your solicitor should also send confirmation that the home loan has been redeemed to the purchasers solicitors. There is unlikely to be post completion requirements specific conveyancing in Weymouth.
The Weymouth conveyancing solicitors that I appointed last week on my house acquisition in Weymouth have suddenly closed. I only went with them because I needed a solicitor on the UBS conveyancing panel and my preferred Weymouth lawyer was not. I issued them a cheque for two hundred pounds in advance. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
Will my lawyer be asking questions concerning flooding as part of the conveyancing in Weymouth.
Flooding is a growing risk for conveyancers dealing with homes in Weymouth. There are those who buy a house in Weymouth, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a numerous searches that can be undertaken by the purchaser or on a buyer’s behalf which can figure out the risks in Weymouth. The standard property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to discover if the premises has ever been flooded. In the event that the residence has been flooded in past which is not disclosed by the vendor, then a buyer may bring a compensation claim as a result of such an incorrect response. A buyer’s solicitors should also conduct an environmental search. This will higlight whether there is any known flood risk. If so, more detailed inquiries will need to be initiated.
I'm buying a new build house in Weymouth benefiting from help to buy. The sellers would not budge the price so I negotiated five thousand pounds worth of extras instead. The sale representative told me not disclose to my lawyer about the deal as it could affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Weymouth I like with amenity areas and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Weymouth for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My folks cant seem to find their Weymouth property on the HM Land Registry online search facility. They recall that 50 years ago when they purchased the house there were complications regarding the post code not being identified on some systems.
Nearly all residences in Weymouth should appear. Have you endevoured to search to simply the postcode. Normally it should disclose all the residences within the postcode. Assuming the property is recorded it will be there with a title number. Where they bought back in the 60’s it's conceivable it may be unrecorded. The property might still be revealed but with the title number identified as 'na'. In this scenario you will need to track down the original title deeds which might be with your parent’s bank.