It is a dozen years since I bought my home in Robin Hoods Bay. Conveyancing solicitors have recently been retained on the sale but I am unable to find my title documents. Will this cause complications?
You need not be too concerned. Firstly the deeds may be kept by your lender or they may still be with the solicitor who oversaw the purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Nearly all conveyancing in Robin Hoods Bay relates to registered property but in the rare situation where your property is not registered it is more of a problem but is resolvable.
How does conveyancing in Robin Hoods Bay differ for newly converted properties?
Most buyers of new build residence in Robin Hoods Bay approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Robin Hoods Bay usually acquire 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 used to new build conveyancing in Robin Hoods Bay or who has acted in the same development.
I decided to have a survey done on a property in Robin Hoods Bay before appointing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies may not grant a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Robin Hoods Bay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Robin Hoods Bay to see if the conveyancing costs will increase in light of this.
I need to find a conveyancing solicitor for freehold conveyancing in Robin Hoods Bay. I happened to land on a site which seems to have the ideal offering If there is a chance to get all the legals done via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a busy estate agency in Robin Hoods Bay where we see a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Robin Hoods Bay conveyancing firms. Can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a studio flat in Robin Hoods Bay, conveyancing formalities finalised August 1995. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Robin Hoods Bay with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2076
With just 53 years left to run we estimate the price of your lease extension to span between £27,600 and £31,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
Why is New Build conveyancing in Robin Hoods Bay more costly?
Conveyancing in Robin Hoods Bay for recently converted or new build homes usually involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further questions and contractual concerns.