My brother and I have just purchased a house in Selsdon. We have noticed several issues with the house which we suspect were overlooked in the conveyancing searches. Do we have any recourse? What searches should? have been ordered as part of conveyancing in Selsdon?
The question is vague as to the nature of the problems and if they are specific to conveyancing in Selsdon. Conveyancing searches and investigations initiated as part of the legal transfer of property are designed to help avoid problems. As part of the process, a property owner completes a form referred to as a Seller’s Property Information Form. If the information proves to be inaccurate, then you may have a claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Selsdon.
Can you explain why leasehold purchase conveyancing in Selsdon is more expensive?
Selsdon leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I have an AIP. The bank mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather use a Selsdon based conveyancing firm?
Do check but the the likelihood is that give you one of their panel lawyers if you accept the "fee-free" incentive. Call the mortgage company and ask if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Selsdon.
I am buying a new build house in Selsdon with the aid of help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not disclose to my conveyancer about this side-deal as it will adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Our mortgage broker has recommended their property lawyer for the conveyancing in Selsdon - Surely it’s easier to just instruct them?
It is worth checking if the selling agent is recommending a conveyancer or introducing to a solicitor. There are plenty of Selsdon selling agents who recommend two or three Selsdon conveyancing firms purely based on those lawyers offering a great service.