Should our conveyancer be asking questions concerning flooding as part of the conveyancing in Brandon.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Brandon. There are those who acquire a house in Brandon, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, but there are a various checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Brandon. The standard completed inquiry forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to find out whether the property has suffered from flooding. If the premises has been flooded in past and is not revealed by the vendor, then a buyer could bring a legal claim for losses resulting from an inaccurate answer. The buyer’s conveyancers will also carry out an enviro search. This will disclose if there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
I have recentlyfound out that Action Conveyancing have been shut down. They conducted my conveyancing in Brandon for a purchase of a leasehold flat 12 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Brandon conveyancing specialists.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Brandon. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Brandon
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Please confirm the Lease plans are architect prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
In what way can the Landlord & Tenant Act 1954 impact my commercial property in Brandon and how can your lawyers assist?
The 1954 Act gives a safeguard to commercial lessees, granting the dueness to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Brandon
When it comes to leasehold conveyancing in Brandon what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Brandon. All leases are individual and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Royal Bank of Scotland, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
I acquired a split level flat in Brandon, conveyancing was carried out 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Brandon with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2093
With just 69 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
Estate agents have just been given the go-ahead to market my ground floor apartment in Brandon.Conveyancing is yet to be initiated but I have just received a yearly service charge invoice – what should I do?
It best that you pay the service charge as you normally would given that all ground rent and service invoices should be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially