I require conveyancing for an apartment in a relatively new development (6 years old) in Prestbury. 95% of the appartments have already been disposed of. Do I need carry out the local searches for my conveyancing in Prestbury?
You are putting yourself at risk in not carrying out Prestbury conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would seriously advise in no uncertain terms that your lawyer conducts them. Where accelerating the process and expenses are primary concerns you should discuss with your conveyancer about the viability of search insurance
Finally the sale completed on my house in Prestbury last October but my buyer keeps SMS messaging me complaining that his solicitor is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your conveyancer should deliver the transfer documentation and all additional paperwork to the buyer’s conveyancer. Where appropriate, your solicitor should also send confirmation that the legal charge in favour of the lender has been repaid to the purchasers conveyancers. There are no post completion formalities peculiar conveyancing in Prestbury.
I require expedited conveyancing in Prestbury as I have a deadline to exchange contracts in less than 2 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not taking a mortgage you have the choice not to do searches although no law firm would suggest that you don't. Drawing on our experience of conveyancing in Prestbury the following are examples of what can show up and therefore impact future mortgageability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Railway Schemes,...
The deeds to my home are lost. The lawyers who handled the conveyancing in Prestbury 10 years ago have long since closed. Will I be able to sell the house?
You no longer need to have the physical official documentation to establish that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Prestbury is the location of the property. Is there any guidance you can give?
Flying freeholds in Prestbury are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Prestbury you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Prestbury 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 premises.
I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Prestbury. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Prestbury ?
The majority of houses in Prestbury are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Prestbury so you should seriously consider shopping around for a Prestbury conveyancing practitioner and check that they have experience in advising 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 to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.
I invested in buying a split level flat in Prestbury, conveyancing was carried out 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Prestbury with over 90 years remaining are worth £216,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2093
With only 68 years left to run the likely cost is going to be between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.