I am need of leasehold conveyancing for a flat in a fairly new development (6 years built) in Newent. The vast majority the flats are already occupied. Is it really necessary to order local searches as part of conveyancing in Newent?
Conveyancing Searches are a central link in the Newent conveyancing process. There are numerous companies conducting Newent conveyancing searches, as well direct from the local authority. These are usually referred to as personal search providers due to them carrying out, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their data from the local authoritative source.
We are downsizing from our property in Newent and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any high street Newent conveyancer would know this is not the case. It does beg the question why the purchasers are using a national conveyancing practice as opposed to a conveyancing solicitor in Newent. We have lived in Newent for six years we know that this is a non issue. Do we contact our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor 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 life insurance to cover that same sickness)
The deeds to our property can not be found. The solicitors who dealt with the conveyancing in Newent 4 years ago are no longer around. What do I do?
Gone are the days when you need to have the physical deeds to prove you own the land or premises, given that the Land Registry have everything they need in a digital format.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Newent I like with amenity areas and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Newent suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Last September I purchased a leasehold flat in Newent. 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 lessee 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 ensure 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 acquired a split level flat in Newent, conveyancing formalities finalised June 1999. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Newent with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2101
With just 76 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
Is it true that a Newent conveyancing company has court proceedings brought against them by clients for failing to conduct comprehensive conveyancing investigations?
We are not aware of such a Newent conveyancing claim but according to a recent report, clients purchasing a house elsewhere in England successfully won a case against their conveyancing practitioner due to development permission to build a wind farm not being picked up in conveyancing searches.
Where you are thinking of buying a home in Newent It is important that your conveyancing practitioner carry out all Newent conveyancing searches necessary to ensure you have relevant and current information ahead of purchasing a home in Newent.