How does conveyancing in Brighouse and Rastrick differ for newly converted properties?
Most buyers of new build property in Brighouse and Rastrick contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Brighouse and Rastrick tend to 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 accustomed to new build conveyancing in Brighouse and Rastrick or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £305k and identified one close by in Brighouse and Rastrick I like with amenity areas and transport links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Brighouse and Rastrick for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
How does the Landlord & Tenant Act 1954 impact my business offices in Brighouse and Rastrick and how can your lawyers assist?
The 1954 Act affords protection to commercial lessees, giving them the legal entitlement to make a request to court for a new lease and continue in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Brighouse and Rastrick is one of the numerous locations in which our lawyers are located
I need to instruct a conveyancing solicitor for my conveyancing in Brighouse and Rastrick. I happened to discover a web site which looks to be the perfect solution If there is a chance to get all the legals completed via web that would be ideal. Should I be concerned? What should out be looking out for?
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 employed by a long established estate agent office in Brighouse and Rastrick where we have experienced a number of flat sales jeopardised due to short leases. I have been given conflicting advice from local Brighouse and Rastrick conveyancing firms. Could you shed some light as to 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 been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 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 sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Brighouse and Rastrick Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
How many of the leaseholders are in arrears for their service charge payments? Are there any major works in the near future that will likely increase the service fees? It would be prudent to find out as much as you can regarding the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to day to day matters like the cleanliness of the communal areas. Enquire of prospective neighbours if they are happy with them. On a final note, find out the dates that you are obliged pay the service charge to the appropriate party and precisely what it includes.