Are there restrictive covenants that are commonly identified during conveyancing in Batley?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Batley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Batley. Conveyancing is a frightening process 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 few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Batley
-
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
There must be mutual enforceability of lessee’s covenants.
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 the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I am looking for a flat up to £305k and identified one round the corner in Batley I like with open areas and station in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Batley for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I have been advised by numerous estate agents in Batley to find a property lawyer on your site. What’s the financial incentive for Estate Agents to market your site ahead of another?
We refuse to give any commission for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
The property lawyers conducting our conveyancing in Batley has sent documents to review that show the land is unregistered with epitome documents. Why is the property not registred at HMLR?
It is rare for property in Batley not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Batley conveyancing lawyers should be capable of dealing with such matters but in the event that uncertainty exists the usual recommendation these days appears to be for the seller’s conveyancer to register it first and thereafter sell - this this chain of events will cause a significant delay.