We are planning on selling our house in Langstone and according to the buyers it appears that there is a risk of it being built on contaminated land. A local 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 rather than a conveyancing solicitor in Langstone. We have lived in Langstone for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. Are they able to advise? 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 illness)
Just had an offer accepted on a new build flat in Langstone. Conveyancing is necessary evil 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 legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Langstone
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am looking for a ground for flat up to £235,500 and identified one near me in Langstone I like with amenity areas and station in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Langstone in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage that many years will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I have been recommended by three or four local estate agents in Langstone to select a solicitor on your site. What’s the financial incentive for Estate Agents to promote your site ahead of a competitor’s?
We refuse to give any referral fee for sending work our way. We found it would be just too difficult to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Am I best advised to choose a Langstone conveyancing lawyer in close proximity to the house I am buying? We have a good friend who can deal with the legal formalities but her office is a couple of hundredmiles away.
The primary upside of using a local Langstone conveyancing practice is that you can visit the firm to sign paperwork, deliver your ID and apply pressure on them if necessary. They will also have local intelligence which is a plus. However it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and they were happy that must outweigh using an unfamiliar Langstone conveyancing lawyer solely due to them being local.
Can you provide any advice for leasehold conveyancing in Langstone with the aim of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Langstone can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers’ conveyancers. In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Langstone state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord consenting to such changes. Where you dont have the approvals in place you should not contact the landlord without contacting your solicitor before hand. A minority of Langstone leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing. You believe that you know the number of years remaining on your lease but it would be advisable verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is under 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
Langstone Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying
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How is the lease structured? The majority of Langstone leasehold properties will have a service bill for maintenance of the block invoiced on behalf of the landlord. Where you purchase the property you will have to pay this contribution, usually quarterly during the year. This may differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent to be met yearly, ordinarily this is not a significant amount, say approximately £50-£100 but you should to enquire it because occasionally it can be prohibitively expensive. Please note that where the lease has less than 80 years it will impact the salability of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth discovering what this would cost. For most Langstonelease extensions you would need to own the residence for two years before you are entitled to extend the lease.