Will my lawyer be raising enquiries concerning flooding as part of the conveyancing in Maidenbower.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Maidenbower. There are those who purchase a house in Maidenbower, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a number of searches that may be initiated by the purchaser or by their lawyers which will give them a better appreciation of the risks in Maidenbower. The standard property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual question of the vendor to find out whether the premises has suffered from flooding. If the residence has been flooded in past which is not disclosed by the seller, then a purchaser could issue a claim for damages as a result of such an misleading reply. A purchaser’s conveyancers will also commission an enviro report. This will reveal whether there is a recorded flood risk. If so, additional investigations will need to be carried out.
It has been 3 months following my purchase conveyancing in Maidenbower completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 property 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.
How does conveyancing in Maidenbower differ for newly converted properties?
Most buyers of new build property in Maidenbower come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is completed. This is because developers in Maidenbower typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Maidenbower or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Maidenbower is the location of the property. What do you suggest?
Flying freeholds in Maidenbower are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Maidenbower you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Maidenbower may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My mum and dad are unable to locate their Maidenbower property on the HMLR online search facility. They have a vague memory fifty years ago when they purchased the house there were complications regarding the address not being identified on some systems.
Nearly all properties in Maidenbower should be revealed. Have you endevoured to search with simply the postcode. Ordinarily it should disclose all the properties within the postcode. Assuming the property is registered it will show up with a title number. If they bought back in the 60’s it's conceivable it may be unrecorded. The property might still be revealed but with the title number shown 'na'. In this scenario you will need to find the original title papers which might be with your parent’s mortgage company.