My partner and I have recently bought a house in Boston. We have noticed several issues with the house which we believe were omitted in the conveyancing searches. What action can we take? What searches should? have been ordered for conveyancing in Boston?
The query is not clear as what problems have arisen and if they are unique to conveyancing in Boston. Conveyancing searches and due diligence undertaken during the buying process are designed to help avoid problems. As part of the process, a seller answers a document referred to as a SPIF. answers is inaccurate, then you may have a claim against the seller 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 Boston.
Various internet forums that I have frequented warn that are the number one reason for delay in Boston house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Boston.
The deeds to my property are lost. The conveyancers who conducted the conveyancing in Boston 4 years ago no longer exist. Will I be able to sell the house?
Gone are the days when you need to hold title deeds to establish that you own the land or property, as the Land Registry have everything they need in a digital format.
Due to the encouragement of my in-laws I had a survey completed on a property in Boston before retaining lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some lenders will refuse to give a loan on this type of home.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Boston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Boston to see if the conveyancing will be more expensive.
I have been recommended by a number of selling agents in Boston to locate a conveyancer on your site. Is there a financial upside for Estate Agents to offer your lawyers rather than a competitor’s?
We refuse to make any referral fee for sending work to this site. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am a negotiator for a reputable estate agency in Boston where we have witnessed a few flat sales jeopardised as a result of short leases. I have been given contradictory information from local Boston conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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.
Boston Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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Does the lease contain onerous restrictions? The majority of Boston leasehold apartments will be liable to pay a service charge for maintenance of the building levied on behalf of the landlord. If you purchase the flat you will have to meet this amount, usually periodically throughout the year. This can differ from two or three hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a rentcharge to be met yearly, ordinarily this is not a exorbitant figure, say approximately £50-£100 but you should to enquire it because sometimes it could be surprisingly expensive.