Will my solicitor be making enquiries regarding flooding during the conveyancing in Walton.
Flooding is a growing risk for solicitors dealing with homes in Walton. There are those who purchase a property in Walton, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous checks that can be undertaken by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Walton. The conventional set of property information forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the seller to find out if the premises has historically flooded. In the event that the premises has been flooded in past which is not revealed by the owner, then a buyer could commence a claim for damages stemming from an incorrect response. A purchaser’s conveyancers may also order an enviro report. This will indicate whether there is a recorded flood risk. If so, further investigations should be initiated.
How does conveyancing in Walton differ for new build properties?
Most buyers of new build or newly converted property in Walton contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Walton tend to buy 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 conveyancing solicitors 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 Walton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Walton is where the house is located. Can you offer any advice?
Flying freeholds in Walton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Walton you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Walton may decide 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.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Walton. I've stumble across a site which looks to be the ideal offering If there is a chance to get all formalities done via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a busy estate agent office in Walton where we have witnessed a number of flat sales derailed as a result of short leases. I have received contradictory information from local Walton conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
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 purchaser.
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Walton. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Walton conveyancing firm who can help.
An example of a Lease Extension decision for a Walton premises is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The remaining number of years on the lease was 82.93 years.