I am buying a property without a mortgage in Hove. I have lived for the previous Seventeen years in Hove. Conveyancing searches are expensive. Given that I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then all but one or two of the Hove conveyancing searches are optional. Your conveyancer will 'advise', perhaps strongly, that you should have searches carried out, but she has a professional duty to do this. Do consider; if you are intend to sell the house at a future date, it will likely be be of interest to your future purchaser what the searches contain. On occasion premises with functional issues can still throw up unpredicted search results. A competent conveyancing solicitor in Hove will be able to give you some sensible advice concerning this.
Why is leasehold purchase conveyancing in Hove is more expensive?
In summary, leasehold conveyancing in Hove and East Sussex usually involve more hours of investigation compared to freehold transactions. This includes reviewing the lease, liaising with the landlord about serving required notices, securing up-to-date service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
How do I check that the solicitor carrying out my conveyancing in Hove is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Clydesdale thus paying £175.00 in further legal bill.
Please do make the most of the find a lender approved solicitor tool on this page. Please choose the mortgage company and type ‘Hove’ or your preferred area and you will be presented with a number of lawyer located in Hove or nearest you.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Hove?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hove. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I need to instruct a conveyancing solicitor for purchase conveyancing in Hove. I happened to discover a site which seems to have the ideal answer If there is a chance to get all the legals completed via phone that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I work for a long established estate agent office in Hove where we have experienced a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Hove conveyancing solicitors. Please can you confirm whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Hove Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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What is the annual service fee and ground rent? You will want to discover as much as possible concerning the company managing the block as they will either make your life much easier or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the tidiness of the communal areas. You should not be shy to ask prospective neighbours if they are happy with their service. Finally, be sure you know the dates that the service charges are due to the managing agents and specifically what you get for your money.