I am buying a property and the conveyancer has mentioned Chancel Repair to which the property may be obligated to pay given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly necessary for conveyancing in Broadstone
Unless a prior acquisition of the property completed post 12 October 2013 you can expect conveyancing practitioners handling conveyancing in Broadstone to remain encouraging a chancel search and or chancel repair liability insurance.
Are there restrictive covenants that are commonly identified during conveyancing in Broadstone?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Broadstone. 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 looking for a leasehold apartment up to £305k and identified one round the corner in Broadstone I like with a park and station nearby, the downside is that it's only got 51 years on the lease. There is not much else in Broadstone in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
How do I use your search tool to select a conveyancing solicitor in Broadstone on the panel for my bank?
Step one is to select a mortgage company such as Halifax, Virgin Money or Platform Home Loans Ltd then choose your location a common one being Broadstone. Conveyancing firms in Broadstone and across England and Wales should be identified.
We're novice buyers - agreed a price, yet the agent informed us that the owners will only issue a contract if we instruct their recommended conveyancers as they want an ‘expedited deal’. We would rather use a high street conveyancer accustomed to conveyancing in Broadstone
It is unlikely the sellers are driving this. If they require ‘a quick sale', turning down a motivated buyer is not the way to achieve this. Speak to the owners direct and make sure they understand (a)you are keen to buy (b)you are ready to go, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Broadstone conveyancing firm - rather thanthose that will earn the estate agent a kickback or hit his conveyancing figures set by head office.
Do you have any advice for leasehold conveyancing in Broadstone from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Broadstone can be avoided if you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ solicitors. Some Broadstone leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Arranging a re-issued share certificate is often a time consuming formality and frustrates many a Broadstone conveyancing transaction. Where a duplicate share is needed, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
Broadstone Leasehold Conveyancing - A selection of Questions you should ask Prior to buying
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What prohibitions exist in the Broadstone Lease? Best to be warned whether a new roof is being put on or some other significant cost is coming up to be shared between the leaseholders and will dramatically impact the level of the maintenance costs or result in a one time invoice. How much is the ground rent and service charge?