It has been 2 months since my purchase conveyancing in Torfaen took place. I have checked the Land Registry website which shows that I paid £175,000 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 residence 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.
I am buying a new build apartment in Torfaen. Conveyancing is daunting 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.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Torfaen
There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are architect prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan.
I need to find a conveyancing solicitor for my conveyancing in Torfaen. I have chance upon a site which appears to be the perfect solution If there is a chance to get all this stuff completed via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last November I purchased a leasehold house in Torfaen. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
Torfaen Leasehold Conveyancing - Sample of Questions you should consider before buying
Does the lease contain onerous restrictions? How is the lease structured? Please tell me if there are any major works anticipated that will likely increase the maintenance costs?
We are expecting to exchange buying a house in Torfaen but as a consequence of wreckage from the recent storms I have agreed reparation from the current proprietors of four thousand pounds by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process however my bank will not agree to this. Why were they informed?
The conveyancer listed on a bank conveyancing panel is duty bound to advise the mortgage company of any changes to the sale figure. If you were to refuse your lawyer to notify the price change to your lender then they would need to discontinue acting for you and the mortgage company.