Last June we completed a house move in Markyate. We have noticed several issues with the house which we suspect were missed in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been carried out as part of conveyancing in Markyate?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Markyate. Conveyancing searches and investigations initiated as part of the buying process are carried out to help avoid problems. As part of the legal transfer of property, the vendor answers a questionnaire called a Seller’s Property Information Form. If the information provided is incorrect, you could possibly take legal action against the vendor 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 Markyate.
Are the Markyate conveyancing solicitors identified as being on the RBS conveyancing panel, together with their details provided by RBS?
Markyate conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when purchasing a residence in Markyate?
Unless a prior acquisition of the premises took place after 12 October 2013 you may expect conveyancing practitioners conducting conveyancing in Markyate to continue to recommend a chancel search and or insurance against a claim.
I am buying a new build flat in Markyate. 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.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Markyate
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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. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Markyate I like with amenity areas and station in the vicinity, the downside is that it only has 61 remaining years left on the lease. There is not much else in Markyate suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
There are numerous properties in Markyate on private lanes. We are buying such a property. Are there any benefits to buying a house on a privately owned road?
Markyate conveyancing firms are used to dealing houseson private. Your conveyancing practitioner will investigate title to find any rights or responsibilities. It is possible that there is a management company (wholly owned by residents) that proprietors pay into to maintain the road. If one exists, the road will likely be maintained and appear nicer than publicly owned.