I am buying a property without a mortgage in Radlett. I have lived for the previous 15 years in Radlett. Conveyancing searches are a lot of money. Given that I know the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then almost all of the Radlett conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, perhaps strongly, that you should have searches done, but she is duty bound to take that path of advice. One thing to take into account; if you are going to sell the house in the future, it could be of importance to your prospective purchaser what the searches determine. On occasion properties with apparent issues can still throw up unexpected search results. A competent conveyancing solicitor in Radlett should provide you some sensible advice here.
I own a freehold residence in Radlett but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Radlett and has limited impact for conveyancing in Radlett 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Will my conveyancer be raising enquiries regarding flooding as part of the conveyancing in Radlett.
The risk of flooding is if increasing concern for lawyers dealing with homes in Radlett. Some people will purchase a property in Radlett, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a numerous checks that can be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in Radlett. The standard property information forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine if the property has historically flooded. If flooding has previously occurred and is not notified by the vendor, then a buyer could issue a compensation claim as a result of such an incorrect answer. A buyer’s conveyancers may also order an enviro search. This will disclose if there is a recorded flood risk. If so, further inquiries will need to be carried out.
The deeds to our house can not be found. The conveyancers who conducted the conveyancing in Radlett 5 years ago are no longer around. What are my next steps?
You no longer need to hold title official documentation to establish that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
How does conveyancing in Radlett differ for new build properties?
Most buyers of new build property in Radlett contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Radlett tend to purchase the land, 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 conveyancers 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 Radlett or who has acted in the same development.
My brother is purchasing a studio flat in Radlett. He has received a fee estimate by the conveyancer connected to the estate agents totaling £1156 . It was seven years ago since I sold and purchased a home and the bill was £450. Have fees really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Radlett searches, land registry fees, etc)