Is there a reason why leasehold purchase conveyancing in Alfriston is more expensive?
In short, leasehold conveyancing in Alfriston and East Sussex usually requires extra due diligence compared to freehold transactions. This includes reviewing the lease, liaising with the landlord about the service of appropriate notices, obtaining up-to-date service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.
Will commercial conveyancing searches reveal planned roadworks that may affect a commercial land in Alfriston?
Many commercial conveyancing solicitors in Alfriston will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Alfriston. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Alfriston.
For each commercial conveyancing transaction in Alfriston it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Alfriston commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Alfriston.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Alfriston?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Alfriston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build apartment in Alfriston. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Alfriston
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Back In 2002, I bought a leasehold flat in Alfriston. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Alfriston who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Alfriston conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a studio flat in Alfriston, conveyancing was carried out 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Alfriston with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2099
With just 74 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
New build sellers have suggested I use a conveyancing practitioner and I've sought an estimate from them. It's nearly two hundred pounds cheaper than my local Alfriston conveyancer. Should I use them?
Housebuilders often have lists of conveyancers who are quick and who know the developer’s contract and conveyancing practitioner. Plenty of developers offer an incentive to choose a preferred conveyancing practitioner for this reason, any increased cost can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the conveyancing stall when they need an exchange within a tight time frame. The argument for not agreeing to use the recommended property lawyer is that they may prove reluctant to 'push' your interests at the risk of upsetting the sellers. If you worry that this may be the case you should stick with your high street Alfriston conveyancer.