The Glan Conwy conveyancing firm handling our Glan Conwy conveyancing has discovered a difference when comparing the surveyor’s assumptions in the home valuation report and what is in the title deeds. My solicitor has advised that he needs to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Should our lawyer be raising enquiries regarding flooding during the conveyancing in Glan Conwy.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Glan Conwy. Some people will purchase a house in Glan Conwy, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a number of searches that can be carried out by the purchaser or by their lawyers which should figure out the risks in Glan Conwy. The standard completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to discover if the property has suffered from flooding. In the event that the property has been flooded in past and is not notified by the seller, then a purchaser could commence a legal claim for losses as a result of such an misleading answer. The buyer’s solicitors will also conduct an enviro report. This should disclose whether there is any known flood risk. If so, more detailed investigations should be made.
I have been recommended by a couple of local selling agents in Glan Conwy to locate a property lawyer using your seach tool. What’s the financial upside for Estate Agents to recommend your services rather than alternative conveyancing organisations?
We refuse to offer any financial incentive for sending work in our direction. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My brother has recommend that I appoint his lawyers for conveyancing in Glan Conwy. Should I find my own conveyancer?
No doubt the best way to find a conveyancing solicitor is to seek referrals from friends or relatives who have actually experience in using the conveyancer you're are thinking of instructing.
I have just appointed agents to market my 2 bed apartment in Glan Conwy. Conveyancing solicitors are to be appointed soon, but I have recently received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the service charge as you normally would because all rents and maintenance invoices should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a ground floor flat in Glan Conwy, conveyancing was carried out in 2007. How much will my lease extension cost? Equivalent flats in Glan Conwy with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2094
With just 69 years left to run we estimate the price of your lease extension to be 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 supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.