I am the registered owner of a freehold residence in Grange Park but still pay rent, why is this and what is this?
It is rare for properties in Grange Park and has limited impact for conveyancing in Grange Park 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.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am buying a garden flat in Grange Park. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Grange Park you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Grange Park.
A colleague advised me that if I am buying in Grange Park I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Grange Park conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about Grange Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Grange Park Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Grange Park Education with maps and statistics, Local Amenities and other useful data concerning Grange Park.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Grange Park is the location of the property. Can you offer any guidance?
Flying freeholds in Grange Park are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Grange Park you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Grange Park may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are new on the property ladder - agreed a price, yet the estate agent has warned us that the seller will only issue a contract if we instruct the agent's recommended lawyers as they want a ‘quick sale’. We would rather use a high street conveyancer who is accustomed to conveyancing in Grange Park
We suspect that the owner is not behind this requirement. Should the owner desire ‘a quick sale', taking such a hostile approach to a motivated buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and explain that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Grange Park conveyancing lawyers - not the ones that will earn the estate agent a introducer fee or achieve conveyancing targets demanded by head office.
I pay a maintenance fee for my property in Grange Park. Due to losing my job and personal issues I fell into arrears with remittance. The management company agreed a payment schedule but there remains around £3000 currently due.
I now wish to dispose of the property and I am worried this may jeopardize the sale if I have to discharge the amount due first. I'd like to sell up and subsequently pay them back with the proceeds - is this practicable?
It would be wise to clarify with the property lawyer conducting your Grange Park conveyancing but it may be possible to arrange for the arrears to be passed to the buyers. The sale price due would be reduced to reflect the amount of debt they take on. They could then discharge the outstanding monies once they are the owners.