Our eminent residential property expert, Ross Ward, answers your questions about moving home. If you have a query about buying or selling, email marketing@tayloremmet.co.uk
This month, Ross discusses certain issues that are more common than you may think.
I am buying a house with my husband who suffered a stroke recently and cannot sign documents. How can we get around this?
There is a procedure in place to overcome these circumstances. If someone is incapable of signing a deed as a result of disability or illness, the Land Registry will accept one that is signed at your husband’s direction, in his presence and that of two witnesses.
There are words that can be inserted into the deeds by your solicitor to reflect this method of signing. If, however, your husband is willing and able to make his mark – even though it may not be his usual signature – this will be acceptable.
I have been asked to pay a deposit at exchange of contracts on the house I am buying. If something goes wrong, how can I be sure I will get my money back?
Your solicitor pays the deposit to the seller’s solicitor when contracts are exchanged. It will then be held in their bank account or used for another purchase, being held ultimately by the solicitor at the end of the chain.
The solicitor keeps the deposit so that if for some reason the seller is in breach of contract and you want to withdraw from the transaction, it can be returned. However, if you are in breach of contract, it could be forfeited.
I have agreed to complete the purchase of my house on Monday, but because of the notice period required by my bank, I cannot release the money until Thursday. Does this mean I will lose my deposit?
It is unlikely that you will lose your deposit, but if you have already exchanged contracts, the vendors are entitled to charge interest for every day you delay the purchase.
Your solicitor will inform you of the rate of interest detailed in the contract, but it is normally four per cent above the bank base rate. You may also have to pay the vendor’s legal costs for any work done as a result of the delayed completion.
A formal Notice to Complete will be served on Monday, which gives you 10 days to comply before you lose your deposit. As you anticipate being late, it is a good idea to warn the vendor, as they are likely to be making arrangements on the basis you will complete on time.
What is a service strip?
Service strips are relatively common on new housing estates. They are areas of land under which local providers have laid drains, pipes and other conduits. Building, digging and the planting of trees and shrubbery is usually restricted to prevent any disturbance in supply to the properties.
I want to add a kitchen extension to my leasehold property. Do I need the freeholder’s permission?
You will need to check your lease to see if it includes a covenant common on residential properties that no improvements or alterations can be made without the freeholder’s consent. This protects their interests and ensures no changes are made that breach planning laws or building regulation approval.
In my experience, most Sheffield freeholders will cooperate in return for a small payment, but if they are being difficult, an application can be made to the court to seek permission for the kitchen extension. Either way, it would be prudent to obtain an agreement in writing before undertaking the work.
0 Comments