Last August we completed a house move in Yateley. We have noticed several issues with the property which we consider were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been carried out for conveyancing in Yateley?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Yateley. Conveyancing searches and investigations undertaken during the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, a property owner fills in a document called a Seller’s Property Information Form. answers is misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Yateley.
Do conveyancers request an advanced payment for conveyancing in Yateley?
If you are buying a property in Yateley your solicitor will ask you to provide them with funds to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the conveyancing searches. If any down payment is as part of the total price then this will be needed immediately before exchange of contracts. The final balance that is needed should be sent to your lawyer a few days ahead of the completion date.
I moved into my apartment on 11 October and the transaction details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Yateley advises it would be concluded inside ten days. Are titles in Yateley particularly slow to register?
As far as conveyancing in Yateley is concerned, registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can vary depending on the party submitting the application, whether there are errors and if the Land registry must send notices to any 3rd persons or bodies. At present in the region of three quarters of submission are completed in less than three weeks but some can be subject to longer delays. Historically registration occurs once the buyer has moved in to the premises therefore an expedited registration is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
Am I best advised to go with a Yateley conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can conduct the legal formalities but his firm is located approximately 350miles away.
The primary upside of using a local Yateley conveyancing practice is that you can drop in to execute documents, present your ID and apply pressure on them if necessary. They will also have local intelligence which is a benefit. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were happy that should surpass using an unfamiliar Yateley conveyancing lawyer just because they are local.
I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Yateley. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Yateley are freehold rather than 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 apparent that you are buying in Yateley in which case you should be shopping around for a Yateley conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.
I am the registered owner of a garden flat in Yateley, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Yateley with over 90 years remaining are worth £179,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2081
With only 57 years left to run we estimate the premium for your lease extension to range between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
Two months into purchasing a property in Yateley. Conveyancing solicitor has phoned to say the title is "Leasehold". Should this adversely affect our mortgage valuation?
Yateley conveyancing does not usually involve leasehold houses. The key factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it shouldn't impact the value too much.
On the flip side, if it's, say, 50 years it is bound to have a material impact on the value, and most likely wouldn't be acceptable to the bank. The remaining lease term and ground rent will be specified in the lease to be supplied to your property lawyer.