My wife and I have recently bought a house in Walkington. We have noticed several issues with the house which we believe were missed in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been ordered as part of conveyancing in Walkington?
The query is not clear as what problems have arisen and if they are specific to conveyancing in Walkington. Conveyancing searches and investigations initiated as part of the buying process are carried out to help avoid problems. As part of the legal transfer of property, a seller completes a questionnaire called a SPIF. If the information turns out to be inaccurate, you could possibly take legal action against the owner 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 Walkington.
My uncle passed away last year and as sole heir and executor I was left the property in Walkington. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
If you intend to refinance then Nottingham will require that you use a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
The estate agent has sent us the confirmation of our purchase of a new build flat in Walkington. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Walkington
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants.
I need to find a conveyancing solicitor for purchase conveyancing in Walkington. I happened to land on a site which looks to be the ideal solution If it is possible to get all the legals done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
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 looking at a two maisonettes in Walkington both have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Walkington is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Walkington conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Walkington - A selection of Questions you should consider Prior to buying
Make sure you discover if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being permitted in in a block in Walkington. If you love the flatin Walkington but your cat is not allowed to make the move with you then you will be presented with a difficult decision. Are any of leasehold owners in arrears of their service charge payments? This question is important as a) areas could result in problems in the building as the common areas may start to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will wish to know about it
How does one remove a departed person's details from the title deeds for a property in Walkington?
If a Walkington property is jointly owned and one of the owners passes away, the name will not automatically be removed from the title deeds. You are not required to amend the title as in the event of a disposal you would just be required to evidence as to the reason the co proprietor is not a party to the transfer, typically this is in the form of a grant of probate.
With the aim of making the sale conveyancing simpler for the sale of the property you may arrange to have the deceased name removed from the title by submitting an application to HMLR with proof of the death. There is no charge from the Registry for this service.