Various online forums that I have come across warn that are the main cause of hinderance in Hale conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Hale.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Hale?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Hale. 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…’
How does conveyancing in Hale differ for newly converted properties?
Most buyers of new build or newly converted property in Hale contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Hale usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Hale or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Hale is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hale are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hale you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hale may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Should I use a Hale conveyancing solicitor who is local to the property I am hoping to buy? An old friend can conduct the legal formalities but they are based approximately 350kilometers drive away.
The benefit of a local Hale conveyancing practice is that you can drop in to sign documents, hand in your identification documents and apply pressure on them if necessary. Having local Hale know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and on the whole were content that must surpass using an unknown Hale conveyancing solicitor just because they are local.
I've recently bought a leasehold property in Hale. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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 purchased a 1st floor flat in Hale, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable properties in Hale with a long lease are worth £202,000. The ground rent is £60 levied per year. The lease ceases on 21st October 2082
You have 57 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.