It is 10 years ago since I bought my property in Parkstone. Conveyancing lawyers have now been instructed on the sale but I can't track down my title documents. Will this jeopardise the sale?
Don’t worry too much. First the deeds may be kept by the mortgage company or they may be archived with the lawyers who oversaw your purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Almost all conveyancing in Parkstone relates to registered property but in the unlikely event that your property is not registered it adds to the complexity but is not insurmountable.
I am considering mortgaging my flat in Parkstone, does my lawyer need to be on the Virgin Money Conveyancing panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
A relative advised me that where I am buying in Parkstone I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Parkstone conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Parkstone around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Parkstone Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Parkstone.
four months have gone by since my purchase conveyancing in Parkstone took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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 premises 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 employed by a reputable estate agency in Parkstone where we see a number of flat sales jeopardised as a result of short leases. I have received contradictory information from local Parkstone conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
Leasehold Conveyancing in Parkstone - A selection of Queries before buying
Is the freehold owned jointly by the tenants? Are any of leasehold owners in arrears of their service charge liability? What prohibitions exist in the Parkstone Lease?