I purchased a freehold house in Broadstairs yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Broadstairs and has limited impact for conveyancing in Broadstairs but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Should our lawyer be raising enquiries regarding flooding during the conveyancing in Broadstairs.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Broadstairs. Some people will acquire a property in Broadstairs, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a numerous searches that can be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in Broadstairs. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to discover if the premises has historically flooded. In the event that the residence has been flooded in past and is not revealed by the owner, then a purchaser could bring a legal claim for losses as a result of such an misleading answer. A purchaser’s lawyers will also commission an environmental search. This will indicate if there is a recorded flood risk. If so, more detailed inquiries should be carried out.
Have completed on a a terraced house in Broadstairs , how long should it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Broadstairs conveyancing solicitor has been very slow, so I want to be certain the land registry aspects are addressed.
There is nothing unique when it comes to conveyancing in Broadstairs registration formalities. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether there are errors and if the Land registry need to notify any 3rd persons or bodies. Currently approximately 80% of submission are fully addressed within 12 days but some can be subject to protracted hold-ups. Registration takes place once the buyer has moved in to the property therefore registration formalities is not typically an essential issue yet if it is urgent that the the registration takes place urgently then you or your conveyancer could contact the land registry and explain the circumstances.
How does conveyancing in Broadstairs differ for newly converted properties?
Most buyers of new build residence in Broadstairs approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because builders in Broadstairs usually buy the site, 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 used to new build conveyancing in Broadstairs or who has acted in the same development.
I need to find a conveyancing solicitor for sale conveyancing in Broadstairs. I've stumble upon a web site which appears to be the ideal offering If it is possible to get all the legals done via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Due to exchange soon on a leasehold property in Broadstairs. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Broadstairs should include some of the following:
Changes to the property Are you allowed to have a pet in the flat? specifics of the parties to the lease, for instance these could be the (you), superior lessor, landlord Ground rent - what is payable and when is collected, and be on notice if this is subject to change
Broadstairs Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
You will want to discover as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the upkeep of the communal areas. Don't be shy to ask other tenants what they think of them. In conclusion, find out the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what it includes. Does the lease include onerous restrictions? The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this arrangement the lessees enjoy control and although a managing agent is usually retained if the building is bigger than a house conversion, the managing agent employed by the leaseholders.