Are there restrictive covenants that are commonly picked up during conveyancing in Market Drayton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Market Drayton. 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 Market Drayton differ for newly converted properties?
Most buyers of new build or newly converted property in Market Drayton approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because developers in Market Drayton tend to acquire the site, 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 Market Drayton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Market Drayton is the location of the property. What do you suggest?
Flying freeholds in Market Drayton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Market Drayton you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Market Drayton may decide 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 residence.
Hoping to buy a property located in Market Drayton and I am already nervous. I couldn't find anything specific about Market Drayton. Conveyancing will be needed in due course but do you know about the Market Drayton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Market Drayton. In the meantime here are some basic statistics that we found
Looking forward to exchange soon on a ground floor flat in Market Drayton. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Market Drayton should include some of the following:
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Alterations to the property What you can do if a neighbour is in violation of a provision in their lease? You should be told what counts as a Nuisance in the lease How long the lease is. You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years Does the lease prevent you from subletting the flat, or working from home
I bought a leasehold flat in Market Drayton, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Market Drayton with a long lease are worth £202,000. The ground rent is £60 charged once a year. The lease ends on 21st October 2082
With only 56 years unexpired we estimate the price of your lease extension to range between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
Can I establish who owns a house in Market Drayton?
Assuming that the property is recorded at HM Land Registry, and you have enough specifics of the address of the property, you should be able to obtain results from the HMLR of the recorded proprietor for a fee.