Why do I have to pay up front for my conveyancing in South Harrow?
Where you are retaining lawyers for conveyancing in South Harrow your lawyer will ask you place them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the total price then this will be asked for immediately prior to contracts are exchanged. The final balance that is needed should be sent to your lawyer shortly before completion.
Should my solicitor be raising enquiries about flooding as part of the conveyancing in South Harrow.
Flooding is a growing risk for solicitors dealing with homes in South Harrow. Plenty of people will purchase a property in South Harrow, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, but there are a number of searches that can be initiated by the purchaser or by their lawyers which will figure out the risks in South Harrow. 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) contains a usual inquiry of the vendor to find out whether the premises has historically flooded. In the event that the property has been flooded in past which is not disclosed by the owner, then a purchaser could commence a claim for damages as a result of such an inaccurate reply. A buyer’s lawyers will also commission an enviro search. This should reveal if there is any known flood risk. If so, additional inquiries will need to be made.
i am buying my first flat in South Harrow with a mortgage from . The developers would not reduce the amount so I negotiated 6k of extras instead. The property agent advised me not inform my solicitor about the extras as it will jeopardize my loan with . Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.