It has been 2 months since my purchase conveyancing in Sandown took place. I have checked the Land Registry site which shows that I paid £200,000 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.
Just had an offer accepted on a new build apartment in Sandown. Conveyancing is daunting 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 legal work.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Sandown
There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Sandown I like with a park and railway links nearby, however it's only got 51 years unexpired on the lease. I can't really find anything else in Sandown in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
What is different about your site and alternative online quote calculators for conveyancing in Sandown?
At this site get an accurate quote via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Sandown. Unlike many estate agents and many comparison sites we do not charge firms a commission if you appoint them for your conveyancing in Sandown
Can you provide any advice for leasehold conveyancing in Sandown from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Sandown can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers’ solicitors. You believe that you know the number of years left on your lease but it would be advisable double-check via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. The majority of landlords or Management Companies in Sandown charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Sandown. A minority of Sandown leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Sandown state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Should you dont have the approvals to hand do not communicate with the landlord without checking with your conveyancer first.
Sandown Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
Who are the managing agents? The answer will be helpful as a) areas could cause problems in the building as the common areas may start to deteriorate where repairs remain unpaid b) if the tenants have a dispute with the managing agents you will need to have all the details