Last December we completed a house move in Brynford. We have since encountered a number of issues with the property which we believe were overlooked in the conveyancing searches. Is there anything we can do? What searches should? have been conducted as part of conveyancing in Brynford?
The query is vague as to the nature of the problems and if they are relate to conveyancing in Brynford. Conveyancing searches and due diligence undertaken as part of the buying process are supposed to help avoid problems. As part of the process, a seller fills in a document known as a Seller’s Property Information Form. If the information ends up being incorrect, 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 Brynford.
Finally the sale completed on my house in Brynford last September but my buyer keeps texting every few hours to say their lawyer is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
Following your sale your lawyer is obliged to send the transfer deeds and all of the paperwork to the purchaser's conveyancer. If applicable, your conveyancer must also evidence that the home loan has been paid off to the purchasers lawyers. There are no post completion steps peculiar conveyancing in Brynford.
Do the Building Society Association intend to launch a searchable register to to identify solicitors on the Loughborough BS conveyancing panel for example in Brynford?
We are not aware of any plans on the part of the BSA to develop such a tool.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Brynford I like with amenity areas and station nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Brynford in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the shortness of the lease may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Can you offer any advice when it comes to appointing a Brynford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Brynford conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with two or three firms including non Brynford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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If the firm is not ALEP accredited then why not? What volume of lease extensions have they completed in Brynford in the last year?
I acquired a basement flat in Brynford, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Brynford with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2089
With 65 years left to run we estimate the price of your lease extension to be between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
I need to review estimates for conveyancing in Brynford from numerous conveyancer and decide on one. Am I right to get them to hold tight until I have found somewhere to purchase.
You should wait to ask your solicitor to open a file and submit searches once the offer has been agreed to on the property particularly as Brynford conveyancing searches are not cheap.