Legal Guidance

Do you worry about staying compliant with the law regarding Sacramento rental homes? We can provide you with legal guidance if you want to avoid facing any legal issues. Rentals can count on us to stay compliant with all rental home regulations. As an example, we will make sure you follow all housing ordinances about your rental property. Our company can also make sure that you follow all the rules your homeowners’ association set forth. Moreover, we will help you choose the right insurance plan to avoid potential risks. Simply put, we can ensure your legal rights are protected if you run into any legal difficulties as a landlord.

BUYING PROPERTY

 

You have one of the most important decisions in your life regarding purchasing a home, and any mistake made by you can have serious consequences for you and your family. Without proper planning, what may seem like an easy purchase may take a disastrous turn. Because initial advice is almost always included in the fee for conveyancing work, it’s important to involve your lawyer as soon as possible. Learn how to make moving as smooth and efficient as possible by reading the following tips:

  • The role of solicitor
  • How to proceed
  • Consult a solicitor

The role of solicitor

 

Your solicitor can deal with the following matters:

 

  • Is there anything wrong with the title? Is reselling going to be a problem for you? You must remember that if you buy a home at auction, you’ll be required to sign a binding contract there and then, as well as pay a non-refundable deposit. Thus, it is always best to consult your solicitor well before the auction to verify the title and necessary financing can be arranged.
  • Does the loan process go smoothly? You should ensure that your bank has all the information they need.
  • In the case of failure to repay a loan, what should you do?
  • Will the property’s content be left behind?
  • If you co-purchase the property with your spouse, partner, or civil partner, what rights do they have?
  • Are you better off purchasing in your name or joint names with your spouse/civil partner? What will be your strategy if you buy the property together?
  • What happens if you die as a joint owner?
  • Is co-ownership necessary?

 

Budgeting for the transaction- can you estimate total costs for:

 

  1. Buying a home
  2. Home mortgage
  3. Taxes levied by the government(poverty tax and VAT)
  4. Registrar fees?
  5. Does a lawyer charge additional fees?
  6. Search fess, for example?
  7. Are expenses related to surveys and repairs?

 

After the following, your solicitor will also look:

 

  • Contract exchange
  • The buyer and seller’s solicitor must negotiate any title issues.
  • Preparation of closing documents
  • Searches based on titles
  • Providing your bank with a written undertaking
  • Closing your loan with a check
  • Bringing the sale to close
  • The process of registering your title and stamping the title deed after closing
  • Giving your bank a certificate of title

How to proceed

 

You will need to consider the following:

 

  • When you purchase a new home, make sure you know the property’s details, extras, and arrange for a qualified surveyor, architect, or engineer to check the property periodically.
  • Before signing any contract, have a structural survey performed by a qualified surveyor, architect, or engineer if you purchase a second-hand property.
  • Taking care of non-title matters directly with your bank, such as:
  • Get written loan approval (before signing contracts) and apply for a loan/negotiate.
  • Before opening a loan account, a letter of identification establishing your identity (under anti-money laundering laws) is required.
  • Obtaining property insurance, stating interests on the policy, and the cost of coverage.
  • The benefits of life insurance/mortgage protection insurance and the cost.
  • Mandatory direct debit.

 

In the meantime, you will need to satisfy your bank about these non-title items before your loan cheque can be issued or could be delayed.

 

  • Close the loan (other than with a check)
  • Funds to pay closing costs and legal fees
  • The property is inspected before closing
  • Assuring that utilities are transferred to your name upon completion of the transaction.

 

Please read the following before consult your solicitor:

 

  • No need to pay any deposit
  • Nothing should be signed for anyone
  • Purchase must be finalized before any work, furnishings, or appliances can be ordered.

Consult your solicitor

 

Please follow these steps when you see your lawyer:

 

Before visiting the office, make an appointment by phone. You should bring any purchase-related documents, such as:

 

  • When you are in a civil partnership or are married, you must provide your marriage certificate or civil partnership registration certificate.
  • If you are divorced or separated, your separation agreement.
  • Divorce or dissolution decrees of civil partnerships are issued when a civil partnership has ended or if a divorce decree is issued.
  • You should also identify your tax type (e.g., PAYE, income tax other than PAYE, VAT, etc.).

 

When you need to cancel your appointment or ask a question, don’t hesitate to contact your solicitor by phone. You may also make a list of questions you wish to ask your solicitor.

Selling property

 

In selling a home, there is a great deal of complexity involved. If you don’t properly plan your sale, what may appear to be a straightforward deal that can quickly go sour? The solicitor should be involved at the earliest opportunity. Taking action to sell your home before consulting your solicitor will lead to delays and complications. It could lead to unnecessary expenses, delays, and concerns.

 

  • Speed up your house sale
  • How your solicitor can help
  • What you need to do
  • Seeing your solicitor

Speed up your house sale

 

The most efficient way to complete the conveyancing process is by preparing certain documents and consulting your lawyer as early as possible.

 

How your solicitor can help

 

Here are some matters that your solicitor can advise you on:

 

  • If necessary, locate the title documents in preparation for purchasing your home and have them delivered to your bank on Accountable Trust Receipts (ATR).
  • Having the purchase and sale agreement prepared in advance.
  • Set a date for the auction and take possession of the vacant property, if necessary.
  • Examine title for possible alterations or additions without both planning approval and building approval.
  • If you should accept an offer that is subject to a loan, what terms should you accept?
  • Information on what will be sold and what will not.
  • A discussion on whether you can purchase another dwelling before you have completed the sale of your dwelling, whether financial complications are involved, and what other factors are involved.
  • A budget is prepared to estimate how much you will spend on the transaction (including legal fees, VAT, and other expenses).

 

After the following, your solicitor will also look:

 

  • Contracts are exchanged
  • Documentation to close the transaction
  • How to search for titles
  • Selling the property
  • In the post-closing process, you will need to pay off any loans and obtain a discharge/release of loans from the bank.

What you need to do

 

Here are few things to consider:

 

  • Abc
  • Any utility account must be closed before closing

 

Please read the following before seeing your solicitor:

 

  • Take no deposits
  • Nothing should be signed for anyone
  • The sale must be completed before anyone can occupy the property.

Seeing your solicitor

 

Please follow these steps when you see your lawyer:

 

  • Before visiting the office, make an appointment by phone.
  • Identification should be brought with you, such as proof of your permanent address, your passports, such as an electric bill or bank statement.
  • Regulations against money laundering require this.
  • Would you please bring any relevant documents, such as:
  • You should have your title deeds.
  • Please include any documents or certificates regarding the purchase of ground rent.
  • Your home’s building history, including any permissions you got for any building work.
  • In the case of a mortgage, your mortgage account number.
  • When you are married, or in a civil partnership, you must provide your marriage certificate or civil partnership registration certificate.
  • If you are divorced or separated, your separation agreement.
  • If you are divorced, your decree of divorce from your spouse, or if you were in a civil partnership that was dissolved, your decree of dissolution.
  • You should also identify your tax type (e.g., PAYE, income tax other than PAYE, VAT, etc.).
  • Payment of all NPPR (Non-Principal Private Residence) charges due between 2009 and 2013.
  • Providing documentation of any Local Property Taxes (LPT) due from 2013 onward, including your LPT property ID number.
  • Payment of the 2012 Household Charge.
  • Provide a copy of your septic tank registration certificate to the purchaser (to be given to the buyer).
  • You must provide receipts for any payments you made to your group water scheme.
  • Details of your home’s managing company and agents, any recent receipt for service charges, and any house rules if your home is a flat/apartment or in a managed development.
  • You should also provide details of any remedial work performed to reduce your home’s radon levels, along with the results of any testing.
  • It would help if you wrote down the questions you want your solicitor to answer.
  • In case of cancellation, please call and inform your solicitor.

Bottom Line

 

Whether buying a property or selling it, you always need assistance and guidance to help you with all legal matters. Attorney real property management is here to help you in all types of legal guidance anytime with experienced attorneys and property managers.