I am selling our house in Bearsted and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A high street Bearsted conveyancer would know this is not the case. For the life of me I don't know why the purchasers instructed a national conveyancing outfit as opposed to a conveyancing solicitor in Bearsted. We have lived in Bearsted for six years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You must 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 life insurance to cover that same illness)
How does conveyancing in Bearsted differ for new build properties?
Most buyers of new build residence in Bearsted come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Bearsted typically purchase 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 Bearsted or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Bearsted I like with amenity areas and railway links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Bearsted in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
How does the Landlord & Tenant Act 1954 impact my business offices in Bearsted and how can your lawyers assist?
The 1954 Act provides protection to commercial lessees, giving them the right to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Bearsted is one of our hundreds of areas of the UK in which the firms we work with are based
I am looking at a couple of apartments in Bearsted which have approximately 50 years unexpired on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in Bearsted - Sample of Queries Prior to Purchasing
The answer will be important as a) areas may cause problems in the building as the communal areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have an issue with the running of the building you will need to know about it Who is in charge of the building?
I pay a service charge for my property in Bearsted. As a result of poor financial planning I slipped behind with payments. The managing agents agreed a settlement schedule but there is still in the region of £1750 outstanding as of today.
I want to sell and I am worried this can hold me back if I have to pay off the amount due in advance. Do I have to settle before - is this possible?
You should speak with the conveyancing practitioner dealing with your Bearsted conveyancing but it might be possible to arrange for the debt to be transferred to the buyers. The sale price they pay would be reduced to reflect the amount of debt they take on. They could then discharge the fees following completion of the sale.