My nephew is buying a newly built flat in Clophill with a home loan from Skipton. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Skipton conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can your site be used to find a Conveyancing solicitor in Clophill even if I’m not buying or disposing of a house, for instance if I intend to buy a shop in Clophill with a loan from Barclays Direct?
Our comparison service is predominantly there to select residential conveyancing solicitors in Clophill but we have listed at the end of this page a few Clophill commercial conveyancing firms. You should make contact with the firm directly to see if they can also act for Barclays Direct
I am buying a new build apartment in Clophill. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Clophill
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
We're FTB’s - agreed a price, but the selling agent told us that the seller will only go ahead if we appoint their chosen lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family solicitor with experience of conveyancing in Clophill
We suspect that the seller is not behind this demand. Should the seller desire ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Contact the vendors directly and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you will continue to use your own,trusted Clophill conveyancing lawyers - not the ones that will give their negotiator at the agency a kickback or achieve conveyancing targets pre-set by corporate headquarters.
I've recently bought a leasehold property in Clophill. Am I liable to pay service charges for periods before my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Clophill Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
How long is the Lease? Best to be warned whether window replacement or some other significant cost is anticipated that will be shared amongst the leaseholders and could well dramatically impact the level of the service charges or necessitate a one off invoice. How much is the ground rent and service charge?