Having sold my house in Caerwys last March yet the purchaser is e-mailing me complaining that his solicitor is waiting to hear from mine. What should have happened following completion?
Following your sale your lawyer is obliged to forward the transfer documentation and all of the paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor should also confirm that the home loan has been paid off to the buyers solicitors. There are no post completion requirements just for conveyancing in Caerwys.
What happens if my solicitor is removed from the Barclays Conveyancing panel ahead of completing my conveyancing in Caerwys?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
We are intent on selling our property in Caerwys and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a national conveyancing firm rather than a conveyancing solicitor in Caerwys. We have lived in Caerwys for many years we know that this is a non issue. Is it a good idea to contact our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You need to enquire of 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 health insurance to cover that same ailment)
What makes a Caerwys lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Caerwys. Most leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Repairing obligations to or maintain elements of the property Clauses dealing with recovering service charges for expenditure on the building or common parts.
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Royal Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I am the registered owner of a studio flat in Caerwys, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Caerwys with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2096
You have 72 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
Our conveyancing solicitor in Caerwys has requested from me personal identification documents stating that this is part of his retainer as a solicitor on the mortgage company Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require Caerwys conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements