My wife and I are due to exchange on the purchase of a house in Stokenchurch but as a result of damage from the recent storms I have was able negotiate recompense from the seller of three thousand pounds in the form of a deduction in the price. This was going to be dealt with as part of amending the contract yet HSBC are not allowing this. Should they have been informed?
Any conveyancer being on the HSBC approved list is obliged to disclose to HSBC of any changes to the purchase price. If you were to refuse your conveyancing practitioner to notify the reduction to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new property lawyer for your conveyancing in Stokenchurch.
What will a local search reveal regarding the property my wife and I purchasing in Stokenchurch?
Stokenchurch conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance Searches UK The local search plays a central part in most Stokenchurch conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I have been on the look out for a flat up to £305k and identified one close by in Stokenchurch I like with open areas and station nearby, however it only has 49 years on the lease. I can't really find anything else in Stokenchurch suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
We are 18 days into a residential purchase having been recommend to a firm by the high street agent to do our conveyancing in Stokenchurch. I am am very frustrated with the quality of service. Can you help me find new solicitors?
A conveyancer would need to be really poor to suggest changing them. Has the mortgage been issued? In the event that it has you will need to inform them of the new contact details and have the offer are re-issued. Your solicitor ideally should be on the banks panel to avoid escalating costs and delays. That should be your first question of the new solicitors. The search tool can assist you in finding a lender approved conveyancer for your home move in Stokenchurch
Planning to complete next month on a garden flat in Stokenchurch. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Stokenchurch should include some of the following:
Defining your rights in respect of common areas in the block.For example, does the lease permit a right of way over a path or hallways? What options are open to you if a neighbour is in violation of a provision in their lease? Who has the liability to repair and maintain the main walls and foundations. It is important that you know which party is liable for the repair and maintenance of every part of the building Whether your lease has a provision for a slush fund for major repairs? Where does the liability rest for repairing the window frames
I inherited a ground floor flat in Stokenchurch, conveyancing was carried out 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Stokenchurch with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2100
You have 80 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.