We are selling our property in Poundbury and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A local lawyer would know this is not the case. It does beg the question why the purchasers used a nationwide conveyancing firm as opposed to a conveyancing solicitor in Poundbury. Having lived in Poundbury for 5 years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You must 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 life insurance to cover that same illness)
five months have elapsed since my purchase conveyancing in Poundbury completed. I have checked the Land Registry website which shows that I paid £200,000 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 asset 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.
Just had an offer accepted on a new build flat in Poundbury. 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 is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Poundbury
Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I am looking for a flat up to £245,000 and identified one near me in Poundbury I like with open areas and transport links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Poundbury suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage that many years may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
What are the specific advantages to selecting a local property lawyer in Poundbury
Lots of house movers in Poundbury select a nearby high street conveyancer so that they can visit if they have problems, and to execute mortgage deeds without using the Royal Mail.
There is a distinct benefit when selecting a solicitor local to the property you are purchasing, due to the in-depth knowledge of the locality and possible local issues - nevertheless this is debatable. Most conveyancers undertaking their work online and may be almost anywhere.