Last September we completed a house move in Swaffham. We have since encountered a number of issues with the property which we believe were omitted in the conveyancing searches. Is there anything we can do? What searches should? have been conducted as part of conveyancing in Swaffham?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Swaffham. Conveyancing searches and due diligence initiated as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, a property owner fills in a document known as a Seller’s Property Information Form. answers provided is incorrect, you could possibly take legal action against the owner 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 Swaffham.
What can a local search inform me about the house my wife and I purchasing in Swaffham?
Swaffham conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every Swaffham conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
How does conveyancing in Swaffham differ for newly converted properties?
Most buyers of new build premises in Swaffham approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Swaffham usually purchase 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 used to new build conveyancing in Swaffham or who has acted in the same development.
I am a negotiator for a long established estate agent office in Swaffham where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Swaffham conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a 1 bedroom flat in Swaffham, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Swaffham with a long lease are worth £190,000. The ground rent is £45 per annum. The lease ceases on 21st October 2086
With only 62 years unexpired the likely cost is going to range between £17,100 and £19,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
What could I expect to pay for conveyancing in Swaffham?
The total sum levied for conveyancing in Swaffham are likely to be calculated at:
- a set fee; or
- an hourly rate (i.e. the time spent on the particular case).
These days you seldom hear of Swaffham conveyancing companies invoice by the clock