Should my conveyancer be raising questions concerning flooding during the conveyancing in Truro.

Flooding is a growing risk for solicitors specialising in conveyancing in Truro. There are those who purchase a house in Truro, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Conveyancers are not best placed to give advice on flood risk, however there are a various checks that may be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in Truro. The conventional set of property information forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to discover if the property has ever been flooded. In the event that flooding has previously occurred and is not notified by the vendor, then a buyer may commence a claim for damages stemming from an inaccurate answer. The buyer’s lawyers should also commission an environmental report. This should reveal if there is any known flood risk. If so, additional inquiries should be made.

I'm purchasing a new build house in Truro benefiting from help to buy. The developers would not reduce the price so I negotiated 6k of additionals instead. The property agent told me not inform my lawyer about this deal as it would jeopardize my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder 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.

I was advised by a number of property agents in Truro to locate a conveyancer using your seach tool. What’s the financial upside for Estate Agents to promote your lawyers over and above another?

We don’t make any commission for sending work to this site. We found it would be just too difficult to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.

I need to retain a conveyancing solicitor for residential conveyancing in Truro. I have stumble across a site which seems to have the ideal answer If there is a chance to get all this stuff completed via web that would be ideal. Should I be wary? What should out be looking out for?

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?

I am the registered owner of a ground floor flat in Truro, conveyancing formalities finalised 1995. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Truro with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 50

With only 50 years left to run we estimate the premium for your lease extension to span between £36,100 and £41,800 as well as costs.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.