I just bought a house at auction in Harpenden. Conveyancing is needed. What is next?
Now that you are to all intents and purposes signed on the dotted line you should appoint a conveyancing lawyer quickly as you will have a pending a fixed date to complete the conveyancing. Every auction property should have a bespoke legal pack. This will likely include evidence of title and search results. Where you are dealing with leasehold premises the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You should hand this to the solicitor instructed by you as soon as possible. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
A relative pointed out to me me that in purchasing a property in Harpenden there may be various restrictions affecting the ability to carry out external alterations to a property. Is this right?
There are a number of properties in Harpenden which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Harpenden should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My conveyancer has informed me that missing deeds insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Harpenden?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between Barclays and Virgin Money. Conveyancing lawyers as opposed to members of the public take out such insurances.
I am planning on selling our home in Harpenden and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Harpenden conveyancer would know this is not the case. It does beg the question why the purchasers used an online conveyancing outfit as opposed to a conveyancing solicitor in Harpenden. We have lived in Harpenden for three years we know of no issue. Should we get in touch with our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing firm already. What do they say? You must check with 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 illness)
How does conveyancing in Harpenden differ for new build properties?
Most buyers of new build residence in Harpenden approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Harpenden tend to acquire 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 Harpenden or who has acted in the same development.
My husband and I are FTB’s - had an offer accepted, but the agent has warned us that the owners will only go ahead if we appoint their preferred solicitors as they want an ‘expedited deal’. We would rather use a family solicitor who is accustomed to conveyancing in Harpenden
We suspect that the seller is unaware of this requirement. If they want ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Harpenden conveyancing solicitors - not the ones that will give their negotiator at the agency a referral fee or meet his conveyancing figures set by head office.
I want to sublet my leasehold flat in Harpenden. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease dictates relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Harpenden do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I own a 1st floor flat in Harpenden, conveyancing having been completed March 2010. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Harpenden with over 90 years remaining are worth £191,000. The ground rent is £55 yearly. The lease finishes on 21st October 2078
With only 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
Our lawyer in Harpenden has identified a a problem with the lease for the apartment we are buying in Harpenden. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the mortgage company?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Harpenden conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the bank are the client. These conveyancing instructions must be adhered to by the lender conveyancing panel who has to balance acting for you and the bank