My brother and I have lately acquired a house in Gedling. We have noticed several problems with the property which we believe were omitted in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that needed to have been conducted for conveyancing in Gedling?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Gedling. Conveyancing searches and due diligence initiated as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, a property owner completes a document referred to as a Seller’s Property Information Form. answers turns out to be incorrect, then you may have a claim against the owner 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 Gedling.
I am the registered owner of a freehold property in Gedling yet pay rent, why is this and what is this?
It’s unusual for properties in Gedling and has limited impact for conveyancing in Gedling 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh 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 in 2037 will be dispensed with completely.
Just had an offer accepted on a new build apartment in Gedling. Conveyancing is necessary evil 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 are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Gedling
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Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I have been on the look out for a flat up to £235,500 and identified one close by in Gedling I like with a park and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Gedling for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
Is there anything unique about your site and other web based conveyancing brokers when it comes to conveyancing in Gedling?
At this site get a conveyancing quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Gedling. As opposed to estate agents and many comparison sites we are not in the business of charging firms a fee if you appoint them for your property ownership legalities in Gedling
At what point do I pay stamp duty chargeable for my house transaction in Gedling?
The lawyer should fill out a Land Transaction Return Form for you as part of your Gedling conveyancing transaction for signature. On completion your property lawyer will submit your Land Transaction Return Form to the Tax Authorities and - as long as they have the money - settle any tax bill liability on your behalf.