Are there restrictive covenants that are commonly identified during conveyancing in Southampton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Southampton. 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…’
How does conveyancing in Southampton differ for new build properties?
Most buyers of new build property in Southampton approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Southampton usually buy the land, 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 property lawyers 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 Southampton or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £195,000 and found one near me in Southampton I like with a park and transport links in the vicinity, however it only has 51 years on the lease. There is not much else in Southampton in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could 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 term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
My husband and I are new to the buying process - had an offer accepted, but the estate agent advised that the seller will only move forward if we instruct the agent's recommended solicitors as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Southampton
It is unlikely the sellers are driving this. Should the owner require ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Try to communicate with the owners directly and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you will continue to instruct your preferred Southampton conveyancing lawyers - not the ones that will give their negotiator at the agency a introducer fee or hit his conveyancing figures pre-set by corporate headquarters.
Do online conveyancing organisations do everything a local Southampton solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Southampton?
Where you instruct an online conveyancer they should undertake all the things your Southampton conveyancer would cover.