A relative recommended that if I am buying in Godshill I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Godshill conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Godshill around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Godshill Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Godshill Education with maps and statistics, Local Amenities and other useful data about Godshill.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Godshill is where the house is located. What do you suggest?
Flying freeholds in Godshill are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Godshill you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Godshill may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are FTB’s - agreed a price, yet the agent told us that the seller will only proceed if we instruct the agent's recommended lawyers as they are insisting on a ‘quick sale’. We would rather use a family conveyancer accustomed to conveyancing in Godshill
We suspect that the owner is unaware of this request. If they require ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you are going to instruct your own,trusted Godshill conveyancing lawyers - not the ones that will provide their estate agent a referral fee or achieve conveyancing targets pre-set by HQ.
What advice can you give us when it comes to appointing a Godshill conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Godshill conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Godshill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:
-
If they are not ALEP accredited then why not? How familiar is the practice with lease extension legislation?
I acquired a 1st floor flat in Godshill, conveyancing having been completed in 2006. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Godshill with over 90 years remaining are worth £170,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2104
With just 79 years unexpired we estimate the price of your lease extension to be between £7,600 and £8,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
I am in the process of buying my first property in Godshill. Conveyancing solicitor has been selected. The broker pointed out that a survey is not needed as the property was only constructed in 1997.
At the very least you should order a Home Buyer's Report. Given the property is over 10 years old the property will not come with a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report could be sufficient. They will highlight any apparent issues and suggest additional investigation where appropriate. If there are any indications of problems seek a full structural survey.