What type of flood plain searches concerning the risk and history of local flooding in Hereford and Worcester will the property lawyer in Bewdley apply for an Edwardian house I am buying?
A conveyancer applies for official environmental searches that incorporate Bewdley flood risk area data information.
Can I withdraw my offer on a property at any time?
When you make an offer on a house that has been accepted by the vendor, you can ask them to take it off the market as part of the acceptance. If you are selling, you can show your intent by agreeing to remove it from other potential buyers’ interest.
As a buyer, you can withdraw your offer at any time (and, as a seller, you can reject an offer at any time) up to the exchange of contracts, which means you are now legally committed to go through with the transaction at the agreed price. You should check your contract with both the estate agent and your conveyancing solicitor as there may be fees and other penalties associated with pulling out of the transaction after the offer was initially agreed.
If you decide to withdraw from the contract after exchange, then you are in breach. This means, if you’re the buyer, the seller is entitled to keep whatever agreed sum has been set for the deposit, and could claim damages; as the seller, you will be liable to pay interest accrued during the Notice to Complete period as well as the deposit, and the potential for claiming losses, and the buyer has to return everything about the property at the seller’s expense.
What’s the difference between exchange of contracts and completion?
When you exchange contracts, this means that you are agreeing to all the terms drawn up within the contract made between you on one side of the transaction, and the opposite party on the other side. It is from this point that you are legally obliged to go through with the transaction (unless you want to be subject to financial and/or legal penalties).
The completion of contracts is the point where you officially take over ownership of the property, receive the keys and can move in. All monies are transferred between the various parties and the conveyancing solicitor contacts the Land Registry to register the change of ownership to you.
Confused by the jargon in conveyancing? Let Homeward Legal's straightforward and clear service help guide you to as early a completion as possible. Try our online quote generator or call us on 0800 038 6699.
How much effort is it to sort out a house in multiple occupancy (HMO)?
A house in multiple occupancy is defined as a property where at least three tenants live forming more than one household (one person or more living together), but share kitchen and bathroom facilities.
As a landlord of an HMO, your responsibilities include ensuring proper fire safety measures are in place, gas safety checks are completed annually, the electric system is checked every five years, there are sufficient bathroom and kitchen facilities for everyone to comfortably use, communal areas are kept clean and safe to use, and waste disposal is managed effectively (provision of bins and bags).
This requires more effort than having a property to rent to one household, and you may wish to employ a solicitor to sort out the legal side of things in the first instance, and a property management company to handle the administration, disputes, etc. on a daily basis.
Homeward Legal's experienced solicitors have completed many different transactions including properties for HMOs. Why not give us a quick call now on 0800 038 6699 to get your conveyancing under way today?
How can I buy the freehold of the building in which I’m purchasing a flat?
When you buy a leasehold flat (usually for a lease lasting a long time), it means that you don’t own the building or the land on which it is built. If you want to buy the freehold of the building (either yourself or with other flat-owners), you’ll need to meet a few legal criteria before that can happen (such as the number of flats, the purpose to which the majority of the building is put to, and the number of flat-owners willing to by the freehold).
One additional point to note is that the shorter the lease on any flat, the greater the price of the freehold is likely to be.
You should talk to other residents about your plan as well as finding out how much the freehold will be and getting a professional valuation. Once you are in a position to move ahead, you’ll need to appoint a solicitor to manage the legal aspect of the planned purchase.
Homeward Legal's solicitors are well-versed in dealing with all types of freehold and leasehold purchases. So call us now on 0800 038 6699 and we'll guide you through the process and assign you to one of the best solicitors.
Which government authority is responsible for watching over the state of the conservation areas in Bewdley?
Local conservation areas are created by the local authority (Wyre Forest) who preserve the state of the area including things like billboards, addition of unsympathetic windows and public spaces. English Heritage now maintain a list of the condition of conservation areas in Bewdley and across England.
Bewdley solicitors conduct necessary conveyancing searches when acting for a home purchaser, but which specific searches?
When you are obtaining a mortgage the mortgage lender requires you to a specified set of searches, including the following Local Authority (personal or official), Drainage and Water Search (CON29DW) and Environment Search, and occasionally less common searches, which might include Chancel Search.