I have given 2 months notice to my existing landlord and must vacate my rented apartment in Great Dunmow by 30/12/2025. Conveyancing for my house purchase has just started. How realistic is it to complete in six weeks as don't want to have to move into short term accommodation?
The normal practice is not to give notice on a rental until you have exchanged. If you have not previously done so, update to your solicitor and request that they apply pressure on the owners solicitors, try to get a realistic time scale from them that all parties will work to achieve
A friend advised me that where I am buying in Great Dunmow I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Great Dunmow conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Great Dunmow around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Great Dunmow Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding Great Dunmow.
Over the last few months I have been searching for a flat up to £195,000 and found one near me in Great Dunmow I like with amenity areas and station in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Great Dunmow in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the shortness of the lease will be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I need to retain a conveyancing solicitor for residential conveyancing in Great Dunmow. I have discover a site which appears to be the ideal solution If there is a chance to get all formalities done via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
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?
Do you have any advice for leasehold conveyancing in Great Dunmow from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Great Dunmow can be reduced where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ lawyers. A minority of Great Dunmow leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled. Many landlords or managing agents in Great Dunmow charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Great Dunmow. You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
Leasehold Conveyancing in Great Dunmow - Examples of Questions you should consider Prior to Purchasing
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Generally speaking the cost for major works are not wrapped into the service charges, albeit that a few managing agents in Great Dunmow ask leasehold owners to pay into a reserve fund created for the specific intention of establishing a fund for major repairs or maintenance. How many of the leaseholders are in arrears for their service charge payments? Best to be warned whether redecorating or some other significant cost is pending to be shared by the leaseholders and could well materially impact the level of the maintenance charges or result in a specific payment.