I have been told that property searches are the main cause of obstruction in Aberbargoed conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of slowing down conveyancing in Aberbargoed.
2 months have gone by following my purchase conveyancing in Aberbargoed took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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.
How does conveyancing in Aberbargoed differ for new build properties?
Most buyers of new build residence in Aberbargoed approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Aberbargoed typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Aberbargoed or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £195,000 and identified one close by in Aberbargoed I like with a park and station in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Aberbargoed suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Are the Aberbargoed conveyancing lawyers identified as being on the bank conveyancing panel, together with their details provided by the bank?
Aberbargoed firms and firms carrying out conveyancing in Aberbargoed themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.