Due to move into my new home in Wolverhampton next Tuesday. My property lawyer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the bank expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not limited to conveyancing in Wolverhampton.
My wife and I are close to exchanging contracts on the sale of our house in Wolverhampton and according to the buyers it appears that there is a risk of it being built on contaminated land. Any high street Wolverhampton lawyer would know that there is no such problem. For the life of me I don't know why the buyers used an internet conveyancing firm rather than a conveyancing solicitor in Wolverhampton. We have lived in Wolverhampton for many years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Are there restrictive covenants that are commonly identified as part of conveyancing in Wolverhampton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Wolverhampton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
In my capacity as executor for the will of my grandfather I am disposing of a property in Swansea but I am based in Wolverhampton. My lawyer (who is 260 kilometers from mehas requested that I execute a stat dec prior to the transaction finalising. Can you recommend a conveyancing solicitor in Wolverhampton who can attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Wolverhampton based
Planning to sign contracts shortly on a ground floor flat in Wolverhampton. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Wolverhampton should include some of the following:
Whether your lease provides for a slush fund? The length of the lease term. You should receive guidance as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years You should have a good understanding of the insurance provisions Whether the lease restricts you from letting out the property, or working from home
Wolverhampton Conveyancing for Leasehold Flats - A selection of Queries before buying
How many years remain on the lease? Is anyone aware of any major works anticipated that will likely add a premium to the maintenance charges? Plenty Wolverhampton leasehold flats will be liable to pay a service bill for the upkeep of the block set by the management company. Should you acquire the flat you will have to meet this amount, normally periodically accross the year. This can differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent for you to pay yearly, this is usually not a significant figure, say approximately £25-£75 but you need to enquire it because occasionally it can be surprisingly expensive.