I own a freehold residence in Pensysarn but still pay rent, why is this and what is this?
It is rare for properties in Pensysarn and has limited impact for conveyancing in Pensysarn 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 many centuries, but the Rent Charge Act 1977 barred the creation 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 is to be extinguished.
We are downsizing from our home in Pensysarn and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A high street Pensysarn conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a factory type conveyancing practice rather than a conveyancing solicitor in Pensysarn. We have lived in Pensysarn for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to get confirmation need.
It sounds as though you may have a conveyancing firm already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I used Wolstenholmes several years past for my conveyancing in Pensysarn. Now, I need the files but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Pensysarn of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Do I need to be suspicious that brokers that I am dealing with are suggesting an internet conveyancing firm rather than a High Street Pensysarn conveyancing company?
As with many service providers, often input from family and friends can be very helpful. Nevertheless there are many parties with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies may suggest solicitors to choose. On occasion these lawyers might be known to one of the organisations as being good in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You are at liberty to select your own conveyancer. However, bear in mind that some mortgage providers specify a panel list of conveyancers you are obliged to use for the lender aspect of your conveyancing.
We're new on the property ladder - agreed a price, yet the selling agent informed us that the vendor will only go ahead if we instruct the agent's recommended lawyers as they need a ‘quick sale’. My instinct tells me that we should use a family solicitor with experience of conveyancing in Pensysarn
It is improbable the owners are behind this. Should the seller require ‘a quick sale', turning down a genuine buyer is counter productive. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you are going to use your preferred Pensysarn conveyancing solicitors - as opposed tothe ones that will give their estate agent a commission or hit his conveyancing targets pre-set by head office.
Can you provide any top tips for leasehold conveyancing in Pensysarn with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Pensysarn can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers’ representatives. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 reveal the dispute as historic as opposed to ongoing. If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Arranging a duplicate share certificate is often a time consuming formality and slows down many a Pensysarn conveyancing deal. If a new share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. The majority of freeholders or Management Companies in Pensysarn levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Pensysarn. In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Pensysarn state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such changes. Where you fail to have the consents to hand you should not contact the landlord without checking with your conveyancer in the first instance.
Leasehold Conveyancing in Pensysarn - Examples of Questions you should consider Prior to Purchasing
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Who is in charge of the building? You should be aware that where the lease has fewer than eighty years it will affect the salability of the property. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would need to own the premises for a couple of years before you are entitled to exercise a lease extension. How many years remain on the lease?