In April 2008 Fridays Clapton conveyancing team acted on the purchase conveyancing for a 125 year leasehold property valued at around £355, 000. The property is located at 6 Heyworth Road, London, E5.
Fridaysmove conveyancing team discovered a risk of natural subsidence. Further details can be viewed in the environmental searches. Additional conveyancing enquiries were served within the same day of receiving sale documentation (including documentation from the Land Registry). Properties can be at risk from natural subsidence but some more affected than others. Many factors will contribute to the level of risk your property will of natural subsidence. Some of these can include the construction materials the property is built of, the age of the property, the type as well as the proximity, size and age of nearby vegetation, the age and condition of local drains and climatic conditions. The main factor that contributes to natural subsidence is ‘Clay Shrinkage’ and this is a symptom of the type, depth and nature of the clay soil surrounding and underpinning the property in question.
The Fridaysmove handling conveyancer also discovered that there were Planning permissions affecting this residence. The Land Registry Office Copies supplied revealed that the registered proprietors had owned the property for less than five years and as such there was a danger that the transfer of the property to the seller could be set aside if it was established that the property within that five year period was a Transfer at Undervalue.
Transfer at Undervalue: The transfer of property or an interest in it (for example a transfer by the owner into the joint names of himself and another) by way of gift or for a price less than the current market value of the property.
The Seller's Property Information Form (SPIF) as supplied by the registered proprietors was more than two months old and therefore we needed to have this refreshed. The sellers property information form is part of the Law Society's National Conveyancing Protocol to be completed by a seller in a conveyancing transaction. It is not a compulsory document for a HIP. The sellers property information form gives details about the property such as neighbour disputes and boundaries and the answers therein are legally binding on the seller.
The estate agent's sales particulars detailing the registered proprietors conveyancing solicitor was obtained shortly before receiving the sale documentation. This document outlines the sale/purchase property, the price, the Purchaser and the Seller’s details and details of their respective conveyancing teams. It is worth noting that a Sales Memorandum does nothing more than record the agreement reached between the parties subject to contract and forms no part of a contract for the sale of the said property between the parties.
Dawn Thomas was the Fridaysmove property lawyer in charge of conveyancing in Clapton, Hackney, East London.
The estate agent was the Keatons branch covering Clapton.
The seller's conveyancing solicitor Clapton was AP Law – DX101 London/Chancery Lane. Hackney, East London.
If you would like to know more about conveyancing or have any questions regarding conveyancing, then please feel free to contact Fridaysmove conveyancing lawyers. Fridaysmove have headquarters just a stone's throw from London's St Pancras International, Fridaysmove are the UK's leading conveyancing specialist serving the whole of England and Wales. Fridaysmove consistently out perform market conditions and with current market turbulence, you simply cannot afford to instruct reactive property lawyer s.
Well over 150 estate agent brands refer their clients to Fridaysmove as they know this is the best you can do towards giving your purchase or sale the optimum chance of a successful completion.