I have given 8 weeks notice to my current landlord and have to vacate my rented property in Whitmore by the end of next month. Conveyancing for my house purchase has just started. Is it possible to complete in 4 weeks as don't want to have to move into short term accommodation?
Generally one should not provide notice on a rental unless you have exchanged. Assuming that you have not previously done so, notify to your conveyancer and request that they cajole the owners solicitors, try to a target completion date that all parties will aim to achieve
I am selling our home in Whitmore and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a web based conveyancing outfit as opposed to a conveyancing solicitor in Whitmore. We have lived in Whitmore for three years we know of no issue. Should we contact our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You should check with 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 health insurance to cover that same sickness)
How does conveyancing in Whitmore differ for newly converted properties?
Most buyers of new build residence in Whitmore come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Whitmore tend to purchase the real estate, 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 property lawyers 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 used to new build conveyancing in Whitmore or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Whitmore I like with open areas and railway links in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Whitmore for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage that many years will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Whitmore. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Whitmore ?
Most houses in Whitmore are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Whitmore in which case you should be shopping around for a Whitmore conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.
Whitmore Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
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Where a Whitmore lease has fewer than eighty years it will affect the value of the property. It is worth checking with your lender that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would need to own the premises for 24 months in order to be entitled to exercise a lease extension. What is the name of the managing agents? How many of the leaseholders are in arrears for their maintenance charge payments?
New build sellers have put forward a conveyancer and I've sought an estimate from them. It's almost £250 cheaper than my own Whitmore property lawyer. Should I use them?
Developers frequently have lists of conveyancing practitioners who are quick and who know the seller’s paperwork and conveyancer. Plenty of developers offer an incentive to use a preferred property lawyer for this reason, any increased fees can be avoided and a builder won't put forward a conveyancing warehouse and run the risk of having the transaction stall when they need an exchange inside a month. The argument for not agreeing to use the suggested property lawyer is that they may prove hesitant to 'push' your interests at the risk of alienating the sellers. If you worry that this may be the situation you should remain with your local Whitmore conveyancer.