Me and my partner are due to complete buying a property in Sandown but as a result of wreckage from the recent storms I have was able negotiate recompense from the owner of £3k by way of a adjustment in the price. I had intended this to be dealt with as part of a side agreement but RBS are not allowing this. Should they have been involved?
Your lawyer being on a RBS approved list is obliged to inform RBS of any amendments to the purchase price. If you were to refuse your property lawyer to notify the price change to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new property lawyer for your conveyancing in Sandown.
When does exchange of contracts happen for domestic conveyancing in Sandown and do I need to be at the solicitors branch?
Where you are in close proximity to one of the conveyancing solicitors in Sandown you are invited in to sign contracts. However, the lender approved solicitors we recommend offer a nationwide conveyancing service and provide as equally diligent and professional a job for you when dealing with you electronically. The executing of the property agreement is not when everything is set in stone. A signed contract is just a prerequisite for the firm to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Sandown)to be in the office at the appropriate time.
four months have elapsed since my purchase conveyancing in Sandown concluded. I have checked the Land Registry website which shows that I paid £150,000 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 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.
My brother has encouraged me to use his lawyers for conveyancing in Sandown. Should I choose my own solicitor?
No doubt it’s preferable to find a conveyancing practitioner is to get referrals from friends or relatives who have previously instructed the firm that you are contemplating using.
I've recently bought a leasehold flat in Sandown. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Sandown Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
The best form of lease arrangement is a share of the freehold. In this situation the lessees enjoy being in charge if their destiny and although a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent retained by the leaseholders. How many of the leaseholders are in arrears for their service charge payments? It would be sensible to discover as much as you can about the managing agents as they will either make your living at the property much simpler or problematic. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical matters like the tidiness of the communal areas. Ask prospective neighbours if they are happy with them. In conclusion, find out the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes.