Can you explain why leasehold purchase conveyancing in Greystones costs more?

The conveyancing costs for a leasehold property in Greystones is inevitably more expensive as compared to a freehold property. This is due to the extra work required in dealing with the freeholder and managing agents to obtain evidence concerning whether the rent and maintenance fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.

I am buying a new build flat in Greystones. Conveyancing is daunting 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 questions that you can expect your new-build leasehold conveyancing in Greystones

Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.

I am looking for a ground for flat up to £195,000 and found one near me in Greystones I like with amenity areas and transport links nearby, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Greystones in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you need a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.

My cousin has encouraged me to instruct his conveyancers in Greystones. Should I choose my own solicitor?

Much as we are happy to recommend a Greystones conveyancing lawyer it’s preferable to select a conveyancing solicitor is to have guidance from friends or relatives who have used the solicitor that you are are thinking of instructing.

What can I do to determine who owns a property in Greystones?

On the basis that the premises is recorded at HM Land Registry, and you have sufficient specifics of the location of the premises, you will be able to obtain results from the HMLR of the registered proprietor for a a minimal charge.