I am buying a property for cash in Peacehaven. I have lived for the last dozen years in Peacehaven. Conveyancing searches are expensive. Given that I know the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then the vast majority of the Peacehaven conveyancing searches are at your discretion. Your solicitor will 'advise', no-doubt strongly, that you should have searches done, but she has a professional duty to do this. Do bear in mind; if you are likely to dispose of the house one day, it will be of relevance to your future buyer what the searches determine. There are plenty of instances where premises with day to day issues can still reveal unpredicted search results. A good conveyancing solicitor in Peacehaven will be able to give you some sensible advice here.
My bid for a property was accepted at auction in Peacehaven. Conveyancing is necessary. What are my next steps?
Having to in every practical sense signed on the dotted line you will need to instruct a conveyancing solicitor quickly as you will have a pending a fixed date to complete the conveyancing. An auction property should have an associated auction set of papers. This should include evidence of title and search results. If you have purchased leasehold property the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You need to pass this on to the solicitor instructed by you ASAP. Do make sure that you have funds in order to complete the transaction on the set completion date.
We are planning to move property in April. Should my conveyancing solicitor update the removal company on the completion day. Incidentally, can you suggest a removal company in Peacehaven. Conveyancing solicitor was chosen before I stumbled across your website.
On the afternoon of completion you can collect the keys from your selling agent but this can only be done once the previous owners conveyancers inform the agent that they acknowledge receipt of the completion payment and the keys can be collected. After that you will need to tell the removal company that they can start moving you in. We do not suggest a particular removal company but can help you choose a residential property solicitor in Peacehaven or a legal practice that specialises in conveyancing in Peacehaven.
I have decided to exercise my right to buy my property in Peacehaven off the council. I have a mortgage agreed with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I am buying a new build apartment in Peacehaven. 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 legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Peacehaven
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There must be mutual enforceability of lessee’s covenants. 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. 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I have been on the look out for a flat up to £245,000 and found one close by in Peacehaven I like with open areas and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Peacehaven for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I am looking at a couple of apartments in Peacehaven which have about fifty years remaining on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Peacehaven is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Peacehaven conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a 1 bedroom flat in Peacehaven, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Peacehaven with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 per annum. The lease runs out on 21st October 2100
With only 74 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
What is the reason for new build conveyancing in Peacehaven being more expensive?
Conveyancing in Peacehaven for recently converted or new build properties usually involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as supplemental queries and contractual considerations.