We are downsizing from our property in Potswood and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a national conveyancing firm rather than a conveyancing solicitor in Potswood. Having lived in Potswood for 4 years we know of no issue. Is it a good idea to contact our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Are there restrictive covenants that are commonly identified as part of conveyancing in Potswood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Potswood. 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…’
About to purchase a new build flat in Potswood. 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 should expect your new-build leasehold conveyancing in Potswood
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I am looking for a flat up to £235,500 and found one close by in Potswood I like with open areas and station in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Potswood suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan that many years will likely be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Should I cancel the direct debit for my mortgage with Skipton as soon as a completion date for my sale in Potswood has been set?
You would be well advised to continue meeting any mortgage payments to Skipton pending the mortgage being discharged on completion as part of your Potswood conveyancing.