We are soon to complete on the purchase of a house in Iver but as a result of wreckage from the recent storms I have managed to agree reparation from the vendor in the sum of six thousand pounds in the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however Nottingham are not allowing this. Why were they involved?
Any solicitor being on a Nottingham conveyancing panel is obliged to disclose to Nottingham of any changes to the sale price. If you were to refuse your lawyer to disclose the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new lawyer for your conveyancing in Iver.
Should my solicitor be raising enquiries regarding flooding as part of the conveyancing in Iver.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Iver. There are those who buy a house in Iver, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a numerous searches that can be carried out by the buyer or by their conveyancers which will give them a better appreciation of the risks in Iver. The standard completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to discover if the premises has historically flooded. In the event that the property has been flooded in past which is not notified by the seller, then a purchaser could commence a compensation claim resulting from an misleading response. The buyer’s conveyancers should also commission an enviro search. This should disclose if there is any known flood risk. If so, more detailed inquiries will need to be initiated.
The estate agent has sent us the confirmation of our purchase of a new build flat in Iver. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Iver
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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.
I'm refinancing my primary property to a buy to let loan with Clydesdale and intend to use the remaining equity as a deposit on a second house. The neighborhood we are looking at is Iver. Will your conveyancers be able to act for both sets of banks and link together the conveyances?
Make use of our comparison tool on this page to ensure that the conveyancers are approved by both banks. Having checked that they are your solicitor will be able to connect the two deals but you should have a chat with you conveyancer and specify your desired outcome and needs.
I am tempted by the attractive purchase price for a two flats in Iver which have in the region of forty five years left on the leases. Do I need to be concerned?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena.
I have had difficulty in trying to purchase the freehold in Iver. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Iver conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Iver flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The unexpired term was 69 years.