My partner and I have recently acquired a property in Bishops Stortford. We have noticed several issues with the house which we believe were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been ordered for conveyancing in Bishops Stortford?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Bishops Stortford. Conveyancing searches and investigations initiated as part of the buying process are designed to help avoid problems. As part of the process, a property owner fills in a form called a SPIF. If the information turns out to be misleading, you could possibly take legal action against the vendor 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 Bishops Stortford.
My colleague recommended that if I am buying in Bishops Stortford I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Bishops Stortford conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Bishops Stortford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bishops Stortford Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding Bishops Stortford.
How does conveyancing in Bishops Stortford differ for newly converted properties?
Most buyers of new build property in Bishops Stortford approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is completed. This is because builders in Bishops Stortford tend to purchase the real estate, 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 Bishops Stortford or who has acted in the same development.
My step-father has recommend that I use his conveyancers in Bishops Stortford. Do I follow his guidance?
Much as we are happy to recommend a Bishops Stortford conveyancing lawyer the ideal way to choose a conveyancing practitioner is to get guidance from friends or relatives who have previously instructed the solicitor that you are considering.
I own a leasehold house in Bishops Stortford. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Bishops Stortford who previously acted has now retired. Do I pay?
First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Bishops Stortford conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a split level flat in Bishops Stortford, conveyancing having been completed 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Bishops Stortford with a long lease are worth £222,000. The ground rent is £50 invoiced annually. The lease finishes on 21st October 2097
With just 71 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.