In September 2009, our property Conveyancing Bournemouth Solicitor team were instructed to act on the conveyancing for a freehold, for a property valued at around £221, 000.
This property was located at Wallisdown in Bournemouth. The property was in the local authority area of Bournemouth Council.
Specific conveyancing enquiries were sent within the same day of receiving sale and purchase agreement, including copy deeds.
The Land Registry Office Copies supplied revealed that the vendors 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.
Office Copies, obtained from the Land Registry, revealed that the vendors had owned the property for less than three months. The CML (Council of Mortgage Lenders) Handbook dictates that conveyancing solicitors have to reveal to the buyer's lender, in any situation where a property being purchased has been owned for less than six months. This is due to valuation reasons and as such, we had to make specific enquiries on behalf of the lender.
The Land Registry documentation also revealed that the property was subject to restrictions/rights/covenants – which was set out in a transfer dated 1st July 1934. It was important that we checked with the vendors conveyancing solicitor, that these restrictions had been fully complied with.
The property lawyer, Mary Spiteri-Panayi, was the property lawyer in charge of conveyancing in the Bournemouth area.
The memo of sale from the estate agent detailing the vendors conveyancing solicitor, was obtained shortly before receiving the sale and purchase agreement.
The estate agent was the The Bungalow Centre (branch covering Bournemouth. )
The seller's conveyancing solicitor in the Bournemouth area, was Richard Sedgley and Co.