Last October we completed a house move in Potswood. We have noticed several issues with the house which we believe were missed in the conveyancing searches. What action can we take? What searches should? have been conducted as part of conveyancing in Potswood?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Potswood. Conveyancing searches and investigations initiated as part of the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner answers a document known as a Seller’s Property Information Form. answers is inaccurate, then you may have a claim against the vendor 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 Potswood.
Why do I have to pay up front for conveyancing in Potswood?
Where you are retaining lawyers for conveyancing in Potswood your lawyer will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the sale price then this should be required shortly in advance of contracts are exchanged. The final balance that is due should be sent to your lawyer a couple of days prior to the completion date.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Potswood so that I can pop in to their offices if required.
These days approved lawyers for banks carry out the vast majority of communications via the post, e-mail or over phone calls. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. Nevertheless you can check if you have the option of going to the offices of your conveyancing lawyer if just in case this is required.
The deeds to our property are lost. The conveyancers who dealt with the conveyancing in Potswood 5 years ago are no longer around. What are my options?
Gone are the days when you need to have the physical deeds to evidence that you are the owner of your registered land or property, as the Land Registry hold details of all registered land or property electronically.
Last September I purchased a leasehold property in Potswood. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 be sure 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 own a 1 bedroom flat in Potswood, conveyancing having been completed June 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Potswood with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2093
With just 67 years remaining on your lease we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
What can I do to establish who owns a house in Potswood?
Assuming that the premises is registered with HMLR, and you have the specifics of the address of the property, you should be able to see results from the the Land Registry of the registered proprietor for a fee.