Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial land in Castle Donington?

Its becoming the norm that commercial conveyancing solicitors in Castle Donington will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Castle Donington. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Castle Donington.

For each commercial conveyancing transaction in Castle Donington it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Castle Donington commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Castle Donington.

I am looking for a flat up to £235,500 and found one close by in Castle Donington I like with open areas and transport links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Castle Donington for this price, so just wondered if I would be making a grave error acquiring a short lease?

If you require a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.

I need to retain a conveyancing solicitor for some conveyancing in Castle Donington. I have land on a site which appears to be the ideal answer If it is possible to get all this stuff done via email that would be preferable. Should I 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 work for a long established estate agency in Castle Donington where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Castle Donington conveyancing solicitors. Can you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is 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 own a basement flat in Castle Donington, conveyancing was carried out 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Castle Donington with a long lease are worth £221,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2095

With only 70 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

I would be grateful if you could explain what my options are if my Castle Donington conveyancing searches shows adverse entries?

On the whole, almost all problems disclosed in Castle Donington conveyancing search results can be addressed prior to completion or indemnity insurance can be taken. You need to note that even though you are acquiring the premises and might be willing to live with the search results, your lender may not, and ultimately they have the final say.