Finally the sale completed on my house in Lyndhurst last October yet the purchaser is whats apping daily complaining that his lawyer needs to hear from mine. What should my lawyer have done following completion?
Following your disposal your solicitor is committed to forward the transfer documentation and all of the paperwork to the buyer’s solicitors. If applicable, your lawyer must also send confirmation that the mortgage has been paid off to the purchasers lawyers. There is unlikely to be post completion tasks specific conveyancing in Lyndhurst.
Should our conveyancer be raising enquiries concerning flooding as part of the conveyancing in Lyndhurst.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Lyndhurst. Some people will acquire a property in Lyndhurst, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that may be initiated by the purchaser or by their conveyancers which will give them a better understanding of the risks in Lyndhurst. The standard property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to determine if the premises has historically flooded. In the event that flooding has previously occurred which is not disclosed by the seller, then a purchaser may bring a compensation claim stemming from an incorrect response. A buyer’s lawyers may also commission an enviro search. This will disclose if there is any known flood risk. If so, additional investigations should be carried out.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Lyndhurst?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Lyndhurst. 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…’
I have been on the look out for a flat up to £305k and found one round the corner in Lyndhurst I like with a park and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Lyndhurst in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan that many years will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Back In 2007, I bought a leasehold house in Lyndhurst. Conveyancing and mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Lyndhurst who previously acted has now retired. Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Lyndhurst conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a 2 bed flat in Lyndhurst, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Lyndhurst with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 50
With only 50 years left to run we estimate the price of your lease extension to range between £36,100 and £41,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.