Will my lawyer be asking questions concerning flooding as part of the conveyancing in Kingston Park.
Flooding is a growing risk for lawyers dealing with homes in Kingston Park. Some people will buy a property in Kingston Park, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, however there are a number of searches that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Kingston Park. The standard information supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to find out whether the property has historically flooded. If flooding has previously occurred which is not notified by the vendor, then a buyer may bring a compensation claim stemming from an incorrect response. A buyer’s lawyers will also order an environmental search. This should higlight if there is any known flood risk. If so, additional inquiries will need to be initiated.
I have justfound out that Stirling Law have been shut down. They conducted my conveyancing in Kingston Park for a purchase of a freehold house 12 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The quickest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Kingston Park conveyancing specialists.
How does conveyancing in Kingston Park differ for new build properties?
Most buyers of new build residence in Kingston Park come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is built. This is because house builders in Kingston Park tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Kingston Park or who has acted in the same development.
I need to retain a conveyancing solicitor for purchase conveyancing in Kingston Park. I've land on a web site which seems to have the ideal offering If it is possible to get all this stuff done via phone that would be preferable. Do I need to be wary? 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 am employed by a reputable estate agency in Kingston Park where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Kingston Park conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
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 buyer.
Leasehold Conveyancing in Kingston Park - A selection of Queries Prior to buying
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What is the service charge and ground rent on the property? The answer will be helpful as a) areas may cause problems in the block as the common areas may begin to deteriorate where repairs are not paid for b) if the tenants have an issue with the running of the building you will wish to have all the details