We went with a local firm for our conveyancing in Sandown today. Going through the fine print I noteI am responsible for charges even if our purchase aborts. Should I go with them or instruct an on-line conveyancing brokerage who offer no move no charge conveyancing in Sandown?
It is usually ‘give and take’ in that if "No Completion No Fee" is available then the fee levels will generally be more expensive to counteract the conveyances that do not proceed. You should be mindful that these arrangements generally do not cover expenditure for instance Sandown conveyancing search expenses.
I purchased a freehold premises in Sandown but nevertheless pay rent, why is this and what is this?
It is rare for properties in Sandown and has limited impact for conveyancing in Sandown 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 have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
What will a local search reveal regarding the house my wife and I buying in Sandown?
Sandown conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search is essential in every Sandown conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search should supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I used Arc property Solicitors several years ago for my conveyancing in Sandown. Now, I need the files but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate 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 Sandown of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been advised by numerous selling agents in Sandown to select a property lawyer using your seach tool. What’s the financial upside for Estate Agents to recommend your lawyers ahead of another?
We don’t make any referral fee for directing people our way. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I only have 72 years left on my flat in Sandown. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have used your best endeavours to find the lessor. For most situations a specialist may be useful to try and locate and prepare an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Sandown.
Leasehold Conveyancing in Sandown - Sample of Queries Prior to Purchasing
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Where a Sandown lease has fewer than 80 years it will affect the value of the property. It is worth checking with your lender that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you will be be obliged to have owned the residence for two years before you are legally able to extend the lease. It would be prudent to find out as much as possible about the managing agents as they will either make living at the property much simpler or much more difficult. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the tidiness of the communal areas. Ask other people whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money. Generally speaking the outlay for major works tend not to be included within service charges, although a few managing agents in Sandown require leaseholders to pay into a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance.