Completed the sale of my flat in Crowborough last November yet the purchaser is telephoning every few hours complaining that his lawyer is waiting to hear from mine. What should my lawyer have done now that I have sold?
Following your disposal your lawyer is committed to send the transfer documentation and all additional paperwork to the purchaser's solicitors. If applicable, your solicitor should also evidence that the mortgage has been paid off to the buyers lawyers. There is unlikely to be post completion procedures unique to conveyancing in Crowborough.
What can a local search reveal about the house my wife and I buying in Crowborough?
Crowborough conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search is essential in every Crowborough conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I bought my apartment on 12 October and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Crowborough said it will be concluded inside ten days. Are transfers in Crowborough particularly slow to register?
As far as conveyancing in Crowborough is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can vary subject to the party submitting the application, whether it is in order and if the Land registry need to notify any third persons or bodies. As of today roughly three quarters of such applications are fully dealt with within two weeks but occasionally there can be protracted hold-ups. Historically registration occurs after the buyer has moved in to the premises therefore an expedited registration is not typically an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.
Just had an offer accepted on a new build apartment in Crowborough. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Crowborough
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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. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I am looking at a couple of maisonettes in Crowborough both have about 50 years remaining on the leases. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in Crowborough is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Crowborough conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I purchased a split level flat in Crowborough, conveyancing having been completed 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Crowborough with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2093
With 68 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.
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. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
Do lenders provide you with an approved list of Crowborough solicitors? How do you know who is on the mortgage company conveyancing panel?
Crowborough law firm practices and firms carrying out conveyancing in Crowborough themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the mortgage company directly.