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Recently asked questions about conveyancing in Harrold

I have given 2 months notice to my current landlord and have to leave my rented property in Harrold by 24/7/2024. Conveyancing on my purchase is progressing. How realistic is it to complete in six weeks as I wish to avoid having to move into short term accommodation?

Generally one should not provide notice for your tenancy until exchange of contracts has taken place. If you have not already done so, update to your conveyancer and urge them to they apply pressure on the other lawyers, try to an agreed time frame that everyone will work to achieve

Will our solicitor be raising questions about flooding as part of the conveyancing in Harrold.

Flooding is a growing risk for solicitors conducting conveyancing in Harrold. There are those who purchase a property in Harrold, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.

Solicitors are not qualified to offer advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Harrold. The standard completed inquiry forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to discover if the property has historically flooded. In the event that flooding has previously occurred and is not notified by the vendor, then a buyer may issue a legal claim for losses stemming from an inaccurate reply. The buyer’s lawyers should also conduct an enviro search. This should indicate whether there is a recorded flood risk. If so, more detailed investigations should be conducted.

Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Harrold I like with open areas and transport links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Harrold in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

If you need a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.

Having had my offer accepted I require leasehold conveyancing in Harrold. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Harrold - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am the registered owner of a 1 bedroom flat in Harrold, conveyancing was carried out 4 years ago. How much will my lease extension cost? Equivalent flats in Harrold with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2084

With 60 years remaining on your lease we estimate the price of your lease extension to be between £20,000 and £23,000 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

As a tenant I am liable for a maintenance contribution for my appartment in Harrold. As a result of poor financial planning I slipped behind with remittance. The freeholders agreed a settlement schedule but there is still two outstanding as of today.

I am under pressure to sell and I am panicking this could jeopardize the sale if I have to discharge the arrears in advance. I'd like to sell up and subsequently discharge the arrears from the completion monies - is this viable?

Do check with the lawyer undertaking your Harrold conveyancing but one option may be to agree for the arrears to be transferred to the buyers. The final price payable would be reduced to reflect the amount of debt they take on. They would then deal with the outstanding monies following completion of the purchase.

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