Last November we completed a house move in Cotham. We have noticed several problems with the property which we suspect were missed in the conveyancing searches. What action can we take? Can you clarify the nature of searches that should have been carried out as part of conveyancing in Cotham?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Cotham. Conveyancing searches and investigations undertaken during the legal transfer of property are designed to help avoid problems. As part of the process, a seller fills in a document called a SPIF. answers turns out to be incorrect, you could possibly take legal action against the owner 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 Cotham.
We are planning to acquire a property and need a conveyancing solicitor in Cotham who is on the Nottingham conveyancing panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nottingham . We don't recommend any particular firms conducting conveyancing in Cotham.
Our lender has suggested a law firm on their panel based in Cotham but I would rather instruct a conveyancing lawyer in Cotham or nearer to where I live. Can you assist?
It is by no means the case that all Cotham conveyancing firms are approved and listed on all lender’s conveyancing panel. Use our find an approved solicitor tool to locate a Cotham conveyancing conveyancer on the on the bank panel.
Will commercial conveyancing searches disclose impending roadworks that may affect a commercial estate in Cotham?
Many commercial conveyancing solicitors in Cotham will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Cotham. 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 Cotham.
For every commercial conveyancing transaction in Cotham 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 may result in delays to Cotham commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Cotham.
I am looking for a flat up to £195,000 and found one close by in Cotham I like with amenity areas and transport links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Cotham for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities 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 speak to your conveyancing lawyer concerning this.
Last August I purchased a leasehold property in Cotham. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a 1 bedroom flat in Cotham, conveyancing having been completed July 1999. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Cotham with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2093
With only 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.