My fiancee and I are purchasing our first property. The solicitor has messagedto ask if we want to take out extra conveyancing searches. Unfortunately we are clueless as to what's appropriate for conveyancing in St Albans
The type of St Albans conveyancing searches should be dictated entirely on the property, the location, the probability of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What matters is that you properly comprehend what information the searches could provide. You may then make a decision if you personally think you need that information. If in doubt, ask the solicitor to recommend.
Are the BSA intent on creating a online directory to list law firms on the Melton Mowbray Building Society conveyancing panel for example in St Albans?
We have not been informed any intention on the part of the BSA to develop such a tool.
Will our conveyancer be raising questions about flooding as part of the conveyancing in St Albans.
Flooding is a growing risk for solicitors conducting conveyancing in St Albans. There are those who purchase a property in St Albans, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a numerous checks that can be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in St Albans. The conventional set of completed inquiry forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to determine whether the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the owner, then a buyer could commence a legal claim for losses stemming from an misleading answer. A buyer’s solicitors should also order an enviro report. This will disclose whether there is any known flood risk. If so, additional inquiries will need to be conducted.
How does conveyancing in St Albans differ for newly converted properties?
Most buyers of new build property in St Albans contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because developers in St Albans tend to acquire the land, 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 conveyancers 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 accustomed to new build conveyancing in St Albans or who has acted in the same development.
I am a negotiator for a busy estate agency in St Albans where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local St Albans conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in St Albans - Sample of Queries before Purchasing
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How much is the ground rent and service charge? It would be sensible to discover as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the cleanliness of the communal areas. Enquire of other tenants what they think of them. Finally, be sure you understand the dates that the service fees are due to the managing agents and precisely what it includes. How many years are left on the lease?
My mother and father cant seem to find their St Albans land registry title on the site. They recall that back in the 70’s when they acquired the bungalow there were complications concerning the post code not being recognised in some systems.
Nearly all premises in St Albans should be revealed. Have you attempted a search with simply the postcode. Usually it should disclose all the properties inside that postcode. Where registered it will be there with a title number. If they bought sixty years ago it's conceivable it may be not yet registered. The address may still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title documentation which might be with your parent’s lender.