A colleague advised me that if I am purchasing in Port Isaac I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Port Isaac conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Port Isaac around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Port Isaac.
How does conveyancing in Port Isaac differ for new build properties?
Most buyers of new build property in Port Isaac approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Port Isaac usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Port Isaac or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one close by in Port Isaac I like with amenity areas and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Port Isaac suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
In surfing the internet for the phrase cheap conveyancing in Port Isaac it reveals many solicitorsin the vicinity. How do I determine which is the right conveyancer for me?
The preferential method of choosing a suitable conveyancer is through a trusted recommendation, so enquire of friends and family who have purchased a property in Port Isaac or a reputable estate agent or financial adviser. Costs for conveyancing in Port Isaac differ, so it's advisable to obtain a minimum of four fee estimates from different conveyancers. Be sure to secure confirmation that the charges are guaranteed not to rise.
All being well we will complete our sale of a £150,000 maisonette in Port Isaac in 5 days. The management company has quoted £396 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Port Isaac?
Port Isaac conveyancing on leasehold apartments usually involves administration charges invoiced by management companies :
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Answering conveyancing due diligence questions
Where consent is required before sale in Port Isaac
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Port Isaac Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
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Who takes responsibility for maintaining and repairing the block? The majority of Port Isaac leasehold apartments will incur a service charge for maintenance of the building invoiced on behalf of the freeholder. Where you purchase the property you will have to meet this liability, normally in instalments throughout the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a ground rent for you to pay annual, this is usually not a significant amount, say around £50-£100 but you need to enquire it because sometimes it can be surprisingly expensive. Best to be warned if a new roof is being put on or some other significant cost is pending to be shared amongst the leasehold owners and could well dramatically impact the level of the service fees or result in a one off payment.
My intention is to acquire a ground floor flat in Port Isaac. Conveyancing lawyer has been waiting for, from the seller, building insurance documents. I was told today I was advised that the vendor needs to send the insurance documents for the flat above as well. Why would my conveyancer want to see the insurance for the flat above? Is it really necessary? We have been in hold for the last fortnight…
It is not unheard of in leasehold conveyancing in Port Isaac to discover Conveyancing in Port Isaac in a minority of cases reveals that the lease requires the leasehold owners to insure their individual flats as opposed to the landlord insuring the entire building - which is clearly better. Do clarify with your conveyancing practitioner but it would appear that your property lawyer is seeking to establish that the entire building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be reconstructed for lack of insurance cover.