Our god-son is purchasing a new build apartment in Buckfastleigh and Dean with a mortgage from Coventry BS. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?

The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

What does a local search inform me regarding the property I am buying in Buckfastleigh and Dean?

Buckfastleigh and Dean conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for instance Onsearch The local search plays an important part in most Buckfastleigh and Dean conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search will reveal information on, amongst other things, details on planning applications relevant 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 subject headings.

I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Buckfastleigh and Dean is the location of the property. Can you shed any light on this issue?

Flying freeholds in Buckfastleigh and Dean are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Buckfastleigh and Dean you would need to get your solicitor to go 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 Buckfastleigh and Dean 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 residence.

My husband and I are first time buyers - had an offer accepted, but the agent told us that the seller will only issue a contract if we appoint the agent's preferred conveyancers as they are insisting on an ‘expedited deal’. We would rather use a family conveyancer who is familiar with conveyancing in Buckfastleigh and Dean

It is unlikely the vendors are driving this. If they desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is going to damage their objectives. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you are going to appoint your own,trusted Buckfastleigh and Dean conveyancing solicitors - rather thanthose that will give their negotiator at the agency a kickback or meet his conveyancing figures set by head office.

I am a negotiator for a long established estate agency in Buckfastleigh and Dean where we have witnessed a few flat sales derailed as a result of short leases. I have been given inconsistent advice from local Buckfastleigh and Dean conveyancing solicitors. Can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

As long as 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. The benefit of this is that the proposed purchaser 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 needs to be completed before, or simultaneously with 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 purchaser.

I inherited a 2 bed flat in Buckfastleigh and Dean, conveyancing formalities finalised May 1995. How much will my lease extension cost? Equivalent properties in Buckfastleigh and Dean with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2076

With only 50 years remaining on your lease we estimate the price of your lease extension to range between £31,400 and £36,200 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.