Having sold my house in Mold last October but our buyer keeps Skype messaging daily to say his lawyer needs to hear from mylawyer. What are the post completion sale legalities following completion?
Following your house sale your lawyer should deliver the transfer deeds and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your lawyer must also confirm that the home loan has been redeemed to the buyers conveyancers. There is unlikely to be post completion requirements unique to conveyancing in Mold.
Should my lawyer be raising enquiries regarding flooding during the conveyancing in Mold.
Flooding is a growing risk for solicitors dealing with homes in Mold. Some people will purchase a house in Mold, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a number of searches that may be undertaken by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Mold. The conventional set of property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the owner to find out if the property has ever been flooded. In the event that flooding has previously occurred and is not disclosed by the owner, then a buyer may commence a claim for damages as a result of such an misleading reply. A purchaser’s solicitors should also commission an environmental report. This will higlight whether there is a recorded flood risk. If so, further investigations should be made.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. Mold is where the house is located. Is there any guidance you can give?
Flying freeholds in Mold are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mold you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mold may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My step-father has suggested that I instruct his conveyancing solicitors in Mold. Should I choose my own conveyancer?
Much as we are happy to recommend a Mold conveyancing lawyer the best way to choose a conveyancing solicitor is to have feedback from friends or relatives who have experience in using the solicitor you're considering.
I work for a busy estate agent office in Mold where we have witnessed a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Mold conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Mold - Sample of Questions you should consider before Purchasing
How is the lease structured? How much is the ground rent and service charge? You will want to find out as much as you can regarding the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to practical matters like the tidiness of the common parts. Don't be shy to ask prospective neighbours what they think of them. In conclusion, be sure you know the dates that the service charges are due to the appropriate party and specifically how they are spending that money.