My partner and I have lately purchased a house in Cookley. We have since encountered a number of problems with the property which we suspect were overlooked in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that needed to have been carried out as part of conveyancing in Cookley?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Cookley. Conveyancing searches and investigations initiated during the legal transfer of property are designed to help avoid problems. As part of the process, the vendor fills in a form known as a SPIF. If the information is incorrect, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Cookley.
I am selling our house in Cookley and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A high street Cookley conveyancer would know that there is no such problem. For the life of me I don't know why the buyers are using a national conveyancing firm as opposed to a conveyancing solicitor in Cookley. We have lived in Cookley for 5 years we know of no issue. Do we get in touch with our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
The estate agent has sent us the confirmation of our purchase of a new build apartment in Cookley. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Cookley
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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. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been on the look out for a ground for flat up to £235,500 and identified one near me in Cookley I like with amenity areas and railway links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Cookley in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage that many years will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years 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 current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
My uncle has recommend that I instruct his lawyers for conveyancing in Cookley. Do I follow his advice?
No doubt the best way to choose a conveyancing practitioner is to get feedback from friends or relatives who have actually used the conveyancer that you are contemplating using.
What are your top tips when it comes to appointing a Cookley conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Cookley conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with two or three firms including non Cookley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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If the firm is not ALEP accredited then why not? How many lease extensions has the firm carried out in Cookley in the last 12 months?
I am the registered owner of a 2 bed flat in Cookley, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Cookley with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2084
With only 59 years left to run we estimate the premium for your lease extension to span between £20,900 and £24,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.