My brother and I have lately bought a house in Rustington. We have since encountered a number of problems with the property which we suspect were missed in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that should have been ordered for conveyancing in Rustington?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Rustington. Conveyancing searches and investigations undertaken as part of the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner answers a form known as a Seller’s Property Information Form. If the information proves to be incorrect, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Rustington.
It is is a decade since I purchased my property in Rustington. Conveyancing solicitors have recently been instructed on the sale but I am unable to find the deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be with your mortgage company or they may be in the possession of the lawyers who oversaw your purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in Rustington involves registered property but in the unlikely event that your property is not registered it is more tricky but is resolvable.
Will my solicitor be making enquiries about flooding during the conveyancing in Rustington.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Rustington. There are those who purchase a house in Rustington, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a various checks that may be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Rustington. The conventional set of information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to find out whether the property has suffered from flooding. If flooding has previously occurred which is not revealed by the owner, then a purchaser could bring a legal claim for losses as a result of such an misleading answer. The purchaser’s conveyancers may also order an enviro search. This will disclose whether there is any known flood risk. If so, further investigations will need to be conducted.
It has been 3 months since my purchase conveyancing in Rustington completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey carried out on a house in Rustington before appointing solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies will refuse to issue a mortgage on such a house.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rustington. Conveyancing may be slightly more expensive based on your lender's requirements.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Rustington. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Rustington ?
Most houses in Rustington are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are buying in Rustington in which case you should be looking for a Rustington conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.
Leasehold Conveyancing in Rustington - Sample of Queries Prior to Purchasing
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The prefered form of lease arrangement is if the freehold interest is owned by the leaseholders. In this situation the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is usually retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. For many Rustington leaseholds the outlay for major works are not incorporated into the service charges, although some managing agents in Rustington ask leaseholders to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. What is the the remaining lease term?