Russia’s Economy of Favours: Blat, Networking and Informal Exchange Alena V. Ledeneva download Z-Library. Download books for free. Further questions on public footpaths, communal land or noise pollution etc. That are posed to the local council. Stage 5 - validating your mortgage. If you're using a 'Sell House Fast' company like us, you can skip this step. If not, read on. Now that the property has been qualified by the solicitor, your mortgage is next on the list.

• Mail Boxes
• Communal Post Boxes Flats For Sale
• Communal Post Boxes Flats For Rent
• Communal Post Boxes Flats South Africa

How you receive your mail may not be at the top of your list of things to think about when you are considering when buying a new home.

If you are a senior citizen, handicapped or simply don’t feel like walking (or driving) up to a block away every day to fetch your mail, however, it is something that you might want to move up the list.

Under pressure to cut costs wherever possible, the U.S. Postal Service (USPS) is now requiring builders and developers to purchase and install kiosks holding a cluster of individual mail boxes.

Why the Move to Community Mailboxes?

By delivering mail to kiosks, instead of door-to-door or even individual street-side mailboxes, the postal service is saving money on gasoline and wear-and-tear on USPS vehicles. And because letter carriers can deliver to more mailboxes when they are clustered – or fewer carriers are needed to deliver the same amount of mail – it’s saving money on salaries, too.

According to the USPS, at roughly $30 billion annually, delivering mail is the largest single fixed-cost the service incurs. Put another way, door-to-door delivery costs about $353 a year per address, while curbside delivery runs $224. Cluster boxes cut the cost to $160 per address annually.

There are other good reasons to deliver to cluster boxes. One is security. With mail safely tucked away in locked boxes, there is far less chance that identity thieves will be able to snatch your letters, bills and checks.

At the same time, though, requiring builders to supply the cluster boxes adds another layer of cost to their homes, not to mention the inconvenience it can place on homebuyers.

The Post Office defines cluster units as free-standing, pedestal mounted metal mailboxes containing eight, 12, 13 or 16 individually locked mailboxes and parcel compartments. Each box can cost $1,000 or more, depending on the style and size.

Beyond that, developers are free to individualize the installations. In climates where intemperate weather is a factor, builders sometimes decide to spiff up their kiosks with overhead roofs and lighting, making them resemble covered bus stops, but that adds an even greater cost factor. In some instances, they put the centralized units in customized buildings that blend in with the community decor.

Cluster boxes have been the norm in most attached townhouse communities for years. But builders usually have been able to stop local postal officials from switching to them in communities where the single-family homes are detached, according to Claire Worshtil, senior program manager for land use at the National Association of Home Builders.

The momentum, though, changed in 2012, says Worshtil. Under siege from the Internet and other, less expensive competitors, the Postal Service revised its operations manual to make cluster boxes the default for new residential development, even in those large lot subdivisions were houses can be acres apart.

Builders in some places around the country – Oregon is one that comes to mind – have been dealing with cluster boxes for years and have come to accept them. But in other places such as North Carolina and Florida, builders are finding them a tough requirement to swallow. Ditto for those in infill sites, where the neighboring older homes still have their mail delivered to their doors.

Under pressure to cut costs wherever possible, the U.S. Postal Service (USPS) is now requiring builders and developers to purchase and install kiosks holding a cluster of individual mail boxes.In North Carolina, according to Tim Minton, director of government affairs for the North Carolina Home Builders Association, the USPS failed to notify both builders and the local building authorities that it was no longer going to deliver to individual houses. Moreover, it wouldn’t grant a waiver to subdivisions that were already approved but weren’t started until the housing downturn had turned upward.

Consequently, some projects that were cleared three or four years ago found out mid-stream that cluster boxes were required. In many cases, says Minton, there wasn’t any place to put them. And in other instances, mail is delivered in half of the subdivision and developers have to put in cluster boxes for the homes in the other half.

Some builders spent $60,000 to $70,000 to put in boxes they were not counting on when they started, Minton says. But the postal service held firm. “I feel worse for our home buyers. They expected their mail to be delivered to their homes, but that’s not going to be the case.”

Who is Responsible for Cluster Mailboxes?

The quick answer? The people who live in the community.

A recent study by Gallup on behalf the USPS Inspector General’s office found door-to-door or curb delivery is not going to die hard among homeowners, who place a high value on maintaining the status quo. The situation even prompted Syndicated Columnist Bob Greene to wax poetic on the topic on CNN:

“It’s hardly wild speculation to predict that people will not relish having to go out into the weather every time they want to retrieve their mail. Some won’t trust the security of the group mailboxes, no matter how many assurances they receive. They’ll be especially vexed on rainy or snowy days when they make the trip to the cluster boxes, only to find that the carrier hasn’t arrived yet. For those accustomed to door-to-door mail service, the act of picking up and sorting through the mail in front of other people may feel less private.”

Individual owners can’t fight city hall on this one and neither can home owner associations. Only builders can take up the fight and only with local postmasters, who have been given the authority to veer from the dictum from headquarters in Washington. But that’s proven to be difficult, as builders in the Tar Heel State found out.

Even the North Carolina League of Municipalities has failed to sway the local postmasters that the “requirement has caused significant difficulties for developers, future buyers and local governments alike.”

Still, the NAHB recently offered its members a few guidelines to use to persuade their postmasters to back off. “Local Postal Service officials may conclude that cluster boxes aren’t worth the savings,” says Worshtil. “Pointing out these issues may help them along”:

Postal rules require that cluster boxes must not require residents to walk more than one block to get their mail. But even that can be a hardship on folks in seniors-only communities or people with disabilities. Regular delivery is much less of a problem for this population.

Just because a development sets aside a common area for kiosks does not mean the boxes are secure or safe. Thieves can break into them almost as easily as they can flip open a curbside mailbox. Recently, bandits broke into boxes in dozens of California cities to snatch tax documents so they can file fake tax returns.

Foul weather such as snow or ice can make retrieving mail difficult, if not impossible, for anyone.

Some planned communities leave it up to their homeowners’ associations (HOAs) to maintain the cluster box areas, which mean annual assessments will be that much higher. But not all properties these days have HOAs, which begs the question, “Who’s responsible?”

If homeowners should lose their mail box key, they, not the Post Office, are responsible for replacing it. And if they can’t find their one and only duplicate with which to make a copy, they will have to replace the entire lock, a tricky job at best, especially for those without the proper tools.

Lew Sichelman is a nationally syndicated housing and real estate columnist. He has covered the real estate beat for more than 50 years.

Should you be taking this sales memo more seriously? We spill the beans...

Memorandum Of Sale is a complex term that often has both buyers and sellers screwing up their faces in bewilderment, and it’s not hard to see why.

Not only does a ‘memorandum’ sound like something you really need to be aware of (clue: that’s not wrong), but it also plays a crucial role when selling your house, particularly if you're after a fast sale. But that being said, a Memorandum Of Sale isn't the only piece of complex jargon you'll come across when selling your house, be it through the open market or a 'Sell House Fast' company like us. Its twin 'Sale Agreed' raises some eyebrows too.

SPOILER: Every house sale requires this sales memo, so this isn't a term you can avoid! (gulp!)

Not that it matters because we've dissected it all for you, down to the very last detail. So before you even think about putting your house on the market or accepting any offers, read on to discover why this sales memorandum is SO important and all the ins and outs of how it works.

After something specific about the Memorandum Of Sale? Use the menu below to find the information you need, quickly...

Is a memorandum a contract?

Yes, a memorandum is a contract, but that doesn't mean it's legally binding. Memorandums are more a preliminary measure done to clarify the terms of an agreement before it's put in place. Think of them as a gentlemen's agreement, only without the handshake. A memorandum also gives both parties the chance to check they are satisfied with the terms of the agreement before legally committing themselves - a MUST when selling a house!

NOTE: Don't be fooled though, some types of memorandum CAN be legally binding, although a Memorandum Of Sale is not. This is because in the UK we use what's called a Memorandum Of Understanding for the sale of property, not a Memorandum Of Agreement. These MOAs are the legally binding type that you've got to watch out for!

What is a Memorandum Of Sale?

The Memorandum Of Sale is a document that details the 'sale agreed' part of a property purchase. It summarises the intent of the buyer as well as the seller's terms of sale. As mentioned above, a Memorandum Of Sale is NOT legally binding, merely written confirmation that a price has been agreed between both the buyer and seller. But don't fall into the trap of thinking this sales memo is insignificant.

As soon as the Memorandum Of Sale is issued, the estate agent or 'Sell House Fast' company gets the ball rolling. They'll remove the house from the market, change its status to Sold SSTC and will begin looking into the sale in finer detail, contacting solicitors and scheduling surveys. All pretty big steps for the buyer, which mean for a seller they're less likely to get gazumped (WHOOPEEE!).

Memo of sale fallen through? We'll replace your buyer

So, what is 'Sale Agreed'?

Sale agreed describes the status of the sale once a Memorandum Of Sale has been issued. Sale agreed is much like it sounds - a deal for a sale of a property has been agreed between a purchaser and a vendor. A memo of sale will then transfer this agreement to paper.

What details are on a Memorandum Of Sale?

A Memorandum Of Sale provides a comprehensive overview of a property sale using the following details:

• The address of the property being sold and the agreed purchase price.
• The contact details of the vendor + a contact address if the property being sold is not their main place of residence.
• Full contact details of both the buyer and seller's solicitor. Because we pay all your legal fees this isn't something you need to worry about, unless you choose to do your legals privately.
• Expected dates for exchange and completion.
• Proof that ownership of the property has been checked with HM Land Registry. This can include a HM Land Registry number.
• Specifics on the property including its tenure and the length on the lease (if applicable).
• Any special conditions agreed as part of the sale. For instance a sale at X price on the basis that the roof is replaced or certain fixtures and fittings remain.
• For auction sales, additional details may need to be provided.

Our Memorandum Of Sale template

To give you a better idea of what a typical Memorandum Of Sale looks like, here's a template of the form we use...

*The keen eyed among you will have noticed that there's no space in our template for the buyer's details. That's because with a name like The Property Buying Company, we thought that this would be pretty obvious, so to simplify the form, we've removed this part.

Is the Memorandum Of Sale confidential?

Yes.

Because the Memorandum Of Sale is signed by your solicitor, you're unlikely to see a copy. Think of the sales memo as the first part of in house communication between your agent/ house sale company and your solicitor.

NOTE: You're more likely to come across a property memorandum if you're selling your house privately and are dealing with the solicitor directly. For instance, selling your house to a friend or relative.

HELP! Estate agent not sending memorandum of sale!

If your agent is slow in issuing a Memorandum Of Sale for the property you're looking to buy, it may not a good sign of things to come. Typically an agent will try and issue a Memo Of Sale on the day the price is agreed to get the sale moving. Remember, the faster the sale, the quicker the agent gets their commission, so be suspicious of any agent who is particularly slow to do this. Although before you pick up the phone and politely tell them to 'GET ON WITH IT', consider these few points.

The reason your agent is yet to issue this property Memorandum could be because...

• The seller hasn't yet decided on a solicitor or is yet to share these details with the agent.
• The agents involved in progressing the sale are slow and disorganised.
• The seller is waiting on more viewings before accepting your offer.

NOTE: House sale companies like us take viewings out of the equation and arrange all your legals for you which enables the Memo Of Sale to be issued FAST! In the past we have completed on purchases in as little as 24 hours!

What happens to this sales memo if you sell your house quickly

When speed is of the essence and you're not selling through the open market, the Memo Of Sale is used in a slightly different way. We've summed up the main differences below...

Selling to house sale companies

Cash property sales are all about saving time. Unlike with an open market sale, where the solicitor has weeks, even months to push the sale through, with a cash buyer they're put on fast forward, so providing them with a comphresensive memo of sale is essential. The more information they have up front, the easier it makes their searches and raising any enquiries. It's because of timesaving moves like this that anyone who sells to a cash property buyer will be given an accurate exchange and completion date as soon as the memo is signed. Choose us and this could be you.

Selling at auction

If you're selling through an auction the whole Memo Of Sale scenario changes once more. Buyer and seller exchange contracts instantly with an auction purchase (as soon as the hammer drops), which means the Memorandum Of Sale must be filled out instantly after the sale. An auction will also demand buyers to pay a percentage up front (somewhere between 10 - 25%). The seller will also be required to foot the auction fees (usually around 2% + VAT). From here the memo will makes its way to the relevant solicitors who will begin processing the sale.

Time ticking for you to find a new buyer? Cut out your agent's fee today

What comes after memorandum of sale?

Once the memorandum of sale is signed, a buyer may schedule an independent survey to check that their offer is reasonable. If the survey uncovers any issues that the buyer wasn't aware of, the buyer is perfectly within their rights to terminate this sales memo or change their stance in the agreement. This could be by demanding a lower price or bargaining for fixtures and fittings.

Providing an agreement is reached between the buyer and seller, the next step is conveyancing...

Stage 1 - Check the buyer is eligiable

Before conveyancing actually starts, it's worth checking that your buyer is still eligiable and can afford the price stated on the Memorandum Of Sale. A lot can change since they were initially 'qualified' by the agent, so it's best to double check before making any financial commitments. Providing your buyer qualifies then you can continue to stage 2.

Stage 2 - Details and information

Now your solicitors are talking to one another (or should be), ID checks and other basic information will be first on the agenda. Your solicitor will require...

• 2 forms of ID - this is usually one that's photographic such as a driving licence or passport and another that's written, so a bank statement or utility bill.
• Proof of funds - this could be a copy of your mortgage in principal (MIP) or a recent bank statement clearly showing your available balance.
• Any warranties or guarantees you have for the property, be they for the roof, double glazing or some pointing work.
• A Fixtures & Fittings Form (AKA the TA10)
• The Property Information Form (AKA the TA6)
• If the property you're selling is leasehold you may also require the Leasehold Information Form (AKA the TA7)

Stage 3 - Raise enquiries

Now you and your buyer have both being qualified for the purchase, it's time for your solicitor to examine the draft contract and raise any enquiries they feel necessary with the seller's solicitor.

However, don't rely on your solicitor to check the length of the lease, you need to do that yourself. Leases with less than 80 years left on them can make a property unmortgageable and cost a fair bit to renew - anywhere from £500 to over £15,000!

Stage 4 - Searches

Searches are arguably one of the most crucial parts of selling a property, as they're a bunch of checks that not even a survey can flag up. Searches come in two types, mandatory and optional. We go through just a handful of these below...

Mandatory searches

• Searches for the title register and title plan - two documents that are both required for the sale of a house and act as proof of ownership. The majority today are stored with the Land Registry online.
• Local authority searches - these tell you a lot about plans for the local area as well as potential hazards. HS2 would be a common one to look out for.
• Water authority searches - a deeper look into how you get your water and the sourage system for your area.
• Environmental searches - sourced either from Landmark or Groundsure, this report highlights issues to do with landfill sites, precautions for flooding, contaminated land, radon gas and so on.

Optional searches - these are extra searches that you may wish to look into depending on your property's type, location or how you plan to use it.

• Mining searches in Ripon, Cornwall, Pontefract and any other place that was heavily mined.
• Further questions on public footpaths, communal land or noise pollution etc. that are posed to the local council.

Stage 5 - validating your mortgage

If you're using a 'Sell House Fast' company like us, you can skip this step. If not, read on...

Mail Boxes

Now that the property has been qualified by the solicitor, your mortgage is next on the list. Here your solicitor will recieve a copy of the mortgage offer and look through the conditions. For certain types of properties you may require a certain type of mortgage, for instance some share of freehold flats and buy to lets. At this point the solicitor will also confirm your deposit.

Stage 6 - Surveys

You'll also need to get mortgage valuation which will should be done by a RICS surveyor - a member of the Royal Institute of Chartered Surveyors. Lenders require to survey a property themselves to ensure their loan is secure, so the surveyor has a lot riding on their shoulders.

TIP: If you want this to be as accurate result as possible, don't tell them your sale price.

Communal Post Boxes Flats For Sale

Usually the mortgage survey will cost anywhere between £150 and £800. The price varies depending on the size of your home, where it's located and it's value. But some lenders will throw in your mortgage survey for free as a way to entice you to choose them. If your lender hasn't included your for free, try haggling with them and see where you get.

Don't waste your time hunting for a new buyer - we'll have you moved by next week...

Stage 7 - Contracts are signed and exchanged

Once both parties and their solicitors are happy with the sale, the draft contracts are waived and the real ones are signed. Your solicitor will do this on your behalf. Once contracts on both sides have been signed, they're exchanged by the solicitors and the sale becomes legally binding.

However, a quick as exchange of contracts sounds, it does take time. Usually between 8-12 weeks, that's unless you sell to a cash property buyer like us. We can exchange contracts on a sale in just a matter of days.

What can cause a sale to fall through?

One of the reasons that can cause a Memorandum Of Sale can fall through is time. The longer a sale takes, the higher the chance that either buyer or seller becomes 'unsettled' and tries to renegotiate or worse, back out.

What do we mean by 'unsettled'? Here's just a handful of ways how unsettled buyers can cause your memo of sale to fall through...

• A buyer pulls out before exchange because another house has caught their attention after a recent price reduction.
• A change of circumstances means a buyer no longer wants to move or is forced to pull out.
• A black mark on a survey puts a buyer off completely or causes them to gazunder you, the seller.

Communal Post Boxes Flats For Rent

How to avoid your sale falling through.

Communal Post Boxes Flats South Africa

Knowing what make a Memorandum of sale fall through is one thing, but knowing how to stop it from occurring is another thing altogether. After all, knowledge is power. Not only can it save you a bunch of time, money and effort in the process, but it'll also ensure that selling your house isn't so much a chore, more of a breeze, so long as you play your cards right. With this in mind, we've drawn from our 50+ years of industry knowledge some of the most vital tips for preventing your memo of sale falling through...

Strong communication means a strong memo of sale

Pretty sure your estate agent will have told you this when they first pitched to you, but eh, we'll reiterate it again. Communication is the driving force of a property sale. From solicitors and surveyors to buyers and sellers, strong communication works to keep all parties connected and ensure transparency from sales memo to completion. All of which builds trust, keeping the chain strong and reducing the likelihood of a buyer pulling out before exchange.

NOTE: Trust won't build itself, so it's worth putting some time aside to getting to know the other parties in your chain. Build a personal connection with them and they'll be far less likely to let you down as your sale progresses. Maybe have a group phone call or if your chain's not very big, meet up for a coffee.

Save your Memorandum Of Sale through your agent

In the event that your buyer pulls out before exchange, you can try to repair your chain through your agent, although whether this can be done all depends on the interest in your house. If your original buyer was part of a mass bidding war for your property and it sold for above the agent's valuation in a matter of days then yes, chances are your agent will be able to find you another buyer. However, if viewings weren't exactly 'on the up' then you may not be so lucky.

It's also worth bearing in mind any changes in the market could affect just how viable this route is. For instance, if when you sold the market was BOOMING, but during the X amount of months your sale has been going through, the market has slumped, then your agent may not be able to find you a replacement buyer. In this instance not even a strong position (no dependant sale) or stand out property can save you, as if you have no interest you can't use it to your advantage.

And even if they were to find you a buyer that at first glance appears to tick all the boxes, how can you be sure that come a few months down the line, they won't do the same?

Repair your chain another way... the fastest way we know

In a situation where your memo or sale has fallen through, there's only so much you can do. As we've said earlier, the longer the sale, the more likely it is to fall through in which case speed really is of the essence, especially when you've only go so long to find your new buyer.

Thankfully, you needn't struggle - in fact your buyer may be closer than you think.

As a leading cash buyer of property across England and Wales, we'll buy your home in as little as 7 days, no matter its condition or location. That's right, we'll be your buyer who won't back out even if you're stuck in a lengthy chain or a survey comes back with black marks. No joke!

And as a special thank you, we'll also cover all your legal costs and make sure they're muscled through quickly too. In some cases we've even helped to negotiate the price of your onward purchase on your behalf; our team have over 50 years' experience in the industry so know a good property when they see one.

Got a strict timescale to meet? We'll meet it




And don't just take our word for it. Even The Advisory say that if you're looking to sell your house fast (between 0-8 weeks), a genuine cash buying company is the only way you'll meet your timescale.