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Recently asked questions about conveyancing in Bestwood

My partner and I have lately purchased a property in Bestwood. We have since encountered a number of issues with the property which we believe were overlooked in the conveyancing searches. Is there anything we can do? What searches should? have been ordered as part of conveyancing in Bestwood?

It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Bestwood. Conveyancing searches and due diligence undertaken as part of the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner answers a questionnaire known as a SPIF. answers ends up being inaccurate, then you may have a claim 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 Bestwood.

My partner and I are close to exchanging contracts on the sale of our home in Bestwood and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers used a factory type conveyancing outfit as opposed to a conveyancing solicitor in Bestwood. Having lived in Bestwood for three years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.

It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You must 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 life insurance to cover that same sickness)

I am buying a new build flat in Bestwood. 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.

Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Bestwood

    Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.

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

Flying freeholds in Bestwood are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bestwood you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bestwood 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 residence.

At what stage do I pay the Stamp Duty Land Tax due for my Bestwood house purchase?

The lawyer should fill out a Land Transaction Return Form on your behalf during your Bestwood conveyancing transaction for you to sign. On completion your property lawyer will submit the Land Transaction application to the Inland Revenue and - as long as they have the money - discharge any Stamp Duty payable on your behalf.

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Find out more about how flying freehold can affect your the value of a property.