My friend advised me that if I am buying in Northamptonshire I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Northamptonshire conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Northamptonshire around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Northamptonshire Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Northamptonshire.
How does conveyancing in Northamptonshire differ for new build properties?
Most buyers of new build residence in Northamptonshire come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Northamptonshire usually acquire the real estate, 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 Northamptonshire or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Northamptonshire is the location of the property. Can you offer any advice?
Flying freeholds in Northamptonshire 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 Northamptonshire you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Northamptonshire may ascertain 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.
My husband and I are new on the property ladder - agreed a price, but the estate agent has warned us that the owners will only go ahead if we appoint their chosen solicitors as they are insisting on a ‘quick sale’. We would rather use a local solicitor accustomed to conveyancing in Northamptonshire
It is unlikely the vendors are driving this. If they desire ‘a quick sale', alienating a genuine purchaser is not the way to achieve this. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you will continue to appoint your preferred Northamptonshire conveyancing solicitors - not the ones that will earn the estate agent a referral fee or meet his conveyancing targets pre-set by corporate headquarters.
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Northamptonshire. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Northamptonshire are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Northamptonshire so you should seriously consider shopping around for a Northamptonshire conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.
Northamptonshire Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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The best form of lease structure is a share of the freehold. In this scenario the leaseholders have control and although a managing agent is frequently employed where it is larger than a house conversion, the managing agent retained by the leaseholders. How long is the Lease? Is there a share of the freehold?
Estate agents have just been given the go-ahead to market my basement flat in Northamptonshire.Conveyancing is yet to be initiated however I have recently received a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as usual as all rents and service payments will be allottedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially