My bid for a property was accepted at auction in Colne. Conveyancing is needed. What is next?
Having legally committed yourself to purchase you now have to instruct a conveyancing solicitor soon as you are facing a pending deadline in which to complete the property. Every auction property will ordinarily have an associated legal set of papers. This will include evidence of title and search results. Where you are dealing with leasehold premises the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You need to give this to your appointed conveyancing solicitor ASAP. You also need to ensure that your finances are in order to complete on the date specified in the contract.
My stepmother informed me that in buying a property in Colne there could be various restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Colne which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Colne should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Santander, do Colne lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I am selling our house in Colne and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the purchasers are using a national conveyancing outfit rather than a conveyancing solicitor in Colne. Having lived in Colne for 5 years we know of no issue. Should we contact our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You should 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)
five months have gone by following my purchase conveyancing in Colne concluded. I have checked the Land Registry site which shows that I paid £175,000 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 residence 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 am selling my property. My former conveyancers have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Colne if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Colne. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
I am looking at a two flats in Colne both have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Colne. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area.
Colne Leasehold Conveyancing - Sample of Questions you should ask before buying
Best to be warned whether changing the roof or some other significant cost is coming up to be shared by the tenants and could well dramatically impact the level of the service costs or result in a one off invoice. You should be aware if it is no more than eighty years it will have adverse implications on the salability of the apartment. It is worth checking with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you would need to own the residence for two years in order to be entitled to extend the lease. What is the maintenance charge and ground rent on the apartment?