My brother and I have recently bought a property in Mousehole. We have noticed several issues with the house which we believe were omitted in the conveyancing searches. What action can we take? What searches should? have been ordered for conveyancing in Mousehole?
The question is not clear as to the nature of the problems and if they are unique to conveyancing in Mousehole. Conveyancing searches and investigations undertaken during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, the vendor answers a document referred to as a SPIF. answers ends up being misleading, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Mousehole.
The deeds to our property are lost. The solicitors who handled the conveyancing in Mousehole 4 years ago have long since closed. What do I do?
In today’s world there are copies made of almost everything, and your conveyancer will know precisely where to look for all the relevant documentation so you can buy or dispose of your property without a hitch. If copies can’t be found, your lawyer can arrange cover in the form of insurance or indemnities against possible claims on your premises.
How does conveyancing in Mousehole differ for newly converted properties?
Most buyers of new build premises in Mousehole come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in Mousehole typically acquire the site, 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 property lawyers 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 Mousehole or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and found one near me in Mousehole I like with a park and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Mousehole for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
We have had DIP from Bank of Ireland who said we could borrow up to £300k. When do we need to instruct a solicitor for conveyancing? Mousehole is where we are purchasing.
You can instruct a lawyer now so that the conveyancing practitioner can open the ledger so they can commence the AML checks etc. If and when you wish them to commence work they will seek a deposit normally about £225. That would normally be after you have the loan offer from your bank and survey results, but should you want to expedite the process you can get going sooner even though you may be risking some expense.