Are there restrictive covenants that are commonly picked up during conveyancing in Dorridge?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Dorridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Dorridge differ for new build properties?
Most buyers of new build premises in Dorridge approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because house builders in Dorridge tend to acquire 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 conveyancers 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 Dorridge or who has acted in the same development.
My husband and I are 3 weeks into a freehold purchase having been referred to solicitors by the estate agent to perform conveyancing in Dorridge. I am am starting to be dissatisfied with the level of service. Can you you assist me in finding new solicitors?
They would have to be very bad to suggest replacing them. Has the loan offer been generated? In the event that it has you will need to inform them of the new solicitor and get the offer are re-sent. Your new conveyancer needs to be on the mortgage company panel to avoid added charges and frustration. So that should be your first question of the new conveyancers. Our search tool will assist you in finding a bank approved conveyancer for your conveyancing in Dorridge
I am a negotiator for a reputable estate agent office in Dorridge where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Dorridge conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-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 for a lease extension. 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 disposal of the property.
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 purchaser.
I purchased a garden flat in Dorridge, conveyancing having been completed 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Dorridge with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease runs out on 21st October 2079
With 54 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 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. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account 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.
At last I have had an offer on an flat in Dorridge agreed to, the vendor does nevertheless have a tied purchase. The vendors have submitted an offer on on an apartment, although it’s not yet tied up, and are looking at other apartments in the pipeline. I have selected a local conveyancing lawyer in Dorridge. What should be my next step? When do I get the mortgage application with Yorkshire BS started with Yorkshire BS?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then survey, Dorridge conveyancing search fees, etc). First, you should check that your conveyancer is on the Yorkshire BS conveyancing panel. Regarding the subsequent steps this very much depends on the specifics of your case, desire for the property and on the state of the market. During a buoyant market many home buyers will apply for a home loan with Yorkshire BS and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with the conveyancing in Dorridge.