Will my solicitor be asking questions regarding flooding during the conveyancing in Hailsham.

Flooding is a growing risk for solicitors conducting conveyancing in Hailsham. There are those who purchase a property in Hailsham, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Conveyancers are not best placed to give advice on flood risk, however there are a numerous checks that can be carried out by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Hailsham. The standard completed inquiry forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to discover if the premises has historically flooded. In the event that the property has been flooded in past which is not revealed by the vendor, then a purchaser may commence a legal claim for losses as a result of such an misleading reply. The buyer’s conveyancers may also conduct an enviro report. This will indicate if there is any known flood risk. If so, further inquiries should be conducted.

How does conveyancing in Hailsham differ for newly converted properties?

Most buyers of new build property in Hailsham contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because developers in Hailsham typically acquire the site, 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 conveyancers 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 accustomed to new build conveyancing in Hailsham or who has acted in the same development.

I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Hailsham is where the house is located. What do you suggest?

Flying freeholds in Hailsham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hailsham 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 Hailsham may determine 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 premises.

Do I need to be wary about estate agents that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a High Street Hailsham conveyancing practice?

As with lots of professional services, often input from connections can be most helpful. Yet there are numerous parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all put forward lawyers to instruct. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You have the right to appoint your preferred conveyancer. You need to be aware that many banks specify a panel list of solicitors you are obliged to use for the lender aspect of your transaction.

Do you have any top tips for leasehold conveyancing in Hailsham from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Hailsham can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled. A minority of Hailsham leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. Many landlords or Management Companies in Hailsham charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Hailsham.

Hailsham Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing

Best to be warned if a new roof is being put on or some other major work is pending that will be shared by the tenants and will dramatically impact the level of the service charges or require a one off payment. Is anyone aware of any major works in the near future that will likely increase the maintenance charges? The prefered form of lease structure is a share of the freehold. In this scenario the tenants have being in charge if their destiny and notwithstanding that a managing agent is often employed where it is bigger than a house conversion, the managing agent employed by the leaseholders.