I am buying a house for cash in Radcliffe. I have lived for the last dozen years in Radcliffe. Conveyancing searches are a lot of money. Given that I know the road and vicinity very well must I have all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the Radcliffe conveyancing searches are at your discretion. Your conveyancer will try and steer you, no-doubt strongly, that you should have searches done, but she has a professional duty to take that path of advice. Do consider; if you are going to dispose of the house one day, it may be of interest to your prospective purchaser what the searches disclose. Sometimes houses with no practical issues can still throw up adverse search results. A competent conveyancing solicitor in Radcliffe will be able to give you some constructive guidance in this regard.
Are the Radcliffe conveyancing solicitors identified as being on the Skipton conveyancing panel, together with their details provided by Skipton?
Radcliffe conveyancing firms themselves provide us confirmation that they are on the Skipton conveyancing panel as opposed to being supplied with a list from Skipton directly.
My wife and I are selling our home in Radcliffe and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local lawyer would know this is not the case. It does beg the question why the buyers instructed an online conveyancing outfit rather than a conveyancing solicitor in Radcliffe. Having lived in Radcliffe for 5 years we know of no issue. Should we contact our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You should enquire of 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)
I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Radcliffe I like with a park and station nearby, however it only has 52 years on the lease. There is not much else in Radcliffe suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
Do you have any advice for leasehold conveyancing in Radcliffe from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Radcliffe can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers’ representatives. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved. The majority of landlords or managing agents in Radcliffe charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Radcliffe. You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. Some Radcliffe leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
I acquired a garden flat in Radcliffe, conveyancing was carried out in 2006. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Radcliffe with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2101
With only 76 years left to run the likely cost is going to span between £8,600 and £9,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
What happens where there is an issue with one of the searches for our conveyancing in Radcliffe?
On the whole, almost all adverse entries that arise in Radcliffe conveyancing search responses can be addressed ahead of completion or title insurance can be put on cover. You should remember that even though you may be purchasing the property and might be willing to live with the search results, your mortgage lender may not, and ultimately they have the final say.