I have given 8 weeks notice to my existing landlord and must vacate my rented property in Cowfold by the end of next month. Conveyancing on my purchase is underway. Can I complete in a couple of weeks as I wish to avoid having to find short term accommodation?
It is unwise to serve notice on a rental until exchange of contracts has taken place. If you have not previously done so, notify to your conveyancer and request that they seek the assistance the other lawyers, try to get a realistic time scale from them that everyone will aim towards
I purchased a freehold property in Cowfold yet charged rent, why is this and what is this?
It is rare for properties in Cowfold and has limited impact for conveyancing in Cowfold but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I am purchasing a garden flat in Cowfold. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Cowfold you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Cowfold.
Should our conveyancer be making enquiries about flooding during the conveyancing in Cowfold.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Cowfold. There are those who buy a house in Cowfold, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a various checks that may be undertaken by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Cowfold. The standard information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the owner to discover whether the premises has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the vendor, then a purchaser may commence a compensation claim as a result of such an inaccurate reply. A purchaser’s conveyancers will also carry out an environmental search. This should reveal whether there is a recorded flood risk. If so, further inquiries should be carried out.
I am attracted to a two apartments in Cowfold both have approximately 50 years unexpired on the lease term. should I be concerned?
There are plenty of short leases in Cowfold. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area.
Cowfold Leasehold Conveyancing - Examples of Questions you should consider before buying
Is there a share of the freehold? For many Cowfold leaseholds the cost for major works are not built into the service charges, albeit that there some managing agents in Cowfold require tenants to pay into a sinking fund and this is used to offset against major works. Are there any major works in the near future that will increase the maintenance charges?