I am need of leasehold conveyancing for a flat in a relatively new development (seven years old) in Highcliffe. Almost all the appartments are already occupied. Is it strictly necessary to order conveyancing searches as part of conveyancing in Highcliffe?
If you getting a mortgage, your lender will need some (many) of the searches so you'll have no choice. If not, then Highcliffe conveyancing searches are optional. No doubt your conveyancer, will 'advise', perhaps strongly, that you should have the searches done, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you may need to find a new lawyer for your conveyancing in Highcliffe.
Why is leasehold purchase conveyancing in Highcliffe is more expensive?
Highcliffe leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The solicitors who dealt with the conveyancing in Highcliffe 4 years ago no longer exist. What are my next steps?
Nowadays there are copies made of almost everything, and your solicitor should know exactly where to find all the suitable documentation so you may purchase or sell your property without a hitch. Where copies can’t be found, your lawyer may be able to arrange cover in the form of insurance or indemnities against possible claims on the premises.
The estate agent has sent us the confirmation of our purchase of a new build flat in Highcliffe. Conveyancing is a frightening process 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 conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Highcliffe
-
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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision.
We're new on the property ladder - had an offer accepted, yet the estate agent has warned us that the vendor will only move forward if we instruct the agent's recommended lawyers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor who is accustomed to conveyancing in Highcliffe
It is highly unlikely the sellers are driving this. Should the seller require ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Avoid the agents and go straight to the owners and make sure they understand (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you will continue to use your preferred Highcliffe conveyancing firm - as opposed tothe ones that will earn the negotiator at the agency a commission or meet his conveyancing figures demanded by corporate headquarters.
Do you have any top tips for leasehold conveyancing in Highcliffe with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Highcliffe can be bypassed where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers’ lawyers. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unresolved. In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Highcliffe leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such works. Where you fail to have the consents to hand do not communicate with the landlord without contacting your lawyer in advance.
I acquired a split level flat in Highcliffe, conveyancing was carried out January 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Highcliffe with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2086
With only 66 years remaining on your lease the likely cost is going to span between £12,400 and £14,200 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do 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. Please do not take any other action based on this information before getting professional advice.