My brother and I have recently acquired a house in Hazlemere. We have since encountered a number of issues with the house which we consider were overlooked in the conveyancing searches. What action can we take? Can you clarify the type of searches that should have been ordered as part of conveyancing in Hazlemere?
The query is vague as what problems have arisen and if they are unique to conveyancing in Hazlemere. Conveyancing searches and due diligence initiated during the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, a seller completes a document known as a SPIF. If the information provided is 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 Hazlemere.
It is a dozen years since I purchased my property in Hazlemere. Conveyancing solicitors have now been appointed on the sale but I am unable to track down the title deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be retained by your mortgage company or they may be in the possession of the conveyancers who oversaw your purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Hazlemere relates to registered property but in the unlikely event that your home is not registered it is more problematic but is resolvable.
The Hazlemere conveyancing lawyers that I recently instructed on my house acquisition in Hazlemere have suddenly shut down. I chose them because I needed a solicitor on the Skipton conveyancing panel and my family Hazlemere lawyer was not. I cut them a cheque for two hundred pounds in advance. What should be my next steps?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when acquiring a residence in Hazlemere?
Unless a prior purchase of the house completed after 12 October 2013 you can take it that lawyers carrying out conveyancing in Hazlemere to remain recommending a chancel search and or insurance against a claim.
How does conveyancing in Hazlemere differ for newly converted properties?
Most buyers of new build or newly converted property in Hazlemere contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Hazlemere 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 conveyancing solicitors 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 used to new build conveyancing in Hazlemere or who has acted in the same development.
Having checked my lease I have discovered that there are only Fifty years left on my lease in Hazlemere. I need to extend my lease but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the lessor. On the whole a specialist may be useful to try and locate and to produce an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court overseeing Hazlemere.
I invested in buying a 2 bed flat in Hazlemere, conveyancing formalities finalised October 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Hazlemere with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2105
With just 80 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.