Last October we completed a house move in Margate. We have noticed several issues with the property which we suspect were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been ordered as part of conveyancing in Margate?
The question is vague as to the nature of the problems and if they are unique to conveyancing in Margate. Conveyancing searches and investigations undertaken during the buying process are supposed to help avoid problems. As part of the legal transfer of property, a seller fills in a questionnaire referred to as a SPIF. If the information ends up being inaccurate, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Margate.
About to purchase a new build apartment in Margate. 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 conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Margate
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Margate is where the house is located. Can you shed any light on this issue?
Flying freeholds in Margate are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Margate you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Margate 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 residence.
Should I instruct a Margate conveyancing lawyer who is local to the property I am hoping to buy? An old friend can execute the conveyancing however his firm is located approximately 350kilometers away.
The primary upside of using a high street Margate conveyancing practice is that you can drop in to execute documents, deliver your identification documents and pester them if necessary. They will also have local knowledge which is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and they were impressed that should surpass using an unfamiliar Margate conveyancing solicitor solely due to them being based in the area.
My wife and I purchased a leasehold house in Margate. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Margate who acted for me is not around. Do I pay?
First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Margate conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a basement flat in Margate, conveyancing was carried out in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Margate with over 90 years remaining are worth £186,000. The ground rent is £55 levied per year. The lease expires on 21st October 2079
With only 53 years unexpired the likely cost is going to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.