Is there a reason why leasehold purchase conveyancing in Rawdon is more expensive?
In short, leasehold conveyancing in Rawdon and Leeds usually involve additional due diligence compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord concerning the service of required notices, procuring up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
The Rawdon conveyancing solicitors that I recently instructed on my house acquisition in Rawdon have suddenly closed. I chose them because I had to have a lawyer on the Nationwide conveyancing panel and my preferred Rawdon lawyer was not. I issued them a cheque for £250 in advance. What should be my next steps?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nationwide conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
I have been told that property searches are the main cause of delay in Rawdon house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of slowing down conveyancing in Rawdon.
Are there restrictive covenants that are commonly identified during conveyancing in Rawdon?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Rawdon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build flat in Rawdon. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Rawdon
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Please confirm the Lease plans are architect prepared. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
My wife and I purchased a leasehold house in Rawdon. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Rawdon who previously acted has now retired. Do I pay?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Rawdon conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a ground floor flat in Rawdon, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Rawdon with an extended lease are worth £221,000. The ground rent is £50 per annum. The lease finishes on 21st October 2096
With only 70 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.