I am in a contract race with another buyer for a property in Hartford. What can be done to quicken up the buying process?
Where the seller is applying pressure for your conveyancing it is advisable to make sure that your solicitor is familiar with the location as they will benefit local relationships and know-how. It is possible that they may have conducted otherhomes in the same neighbourhood. You would be best advised to use a Hartford conveyancing solicitor. In addition, be sure that the lawyer is on the on the approved list for your mortgage company. It is claimed that 18% of Hartford conveyancing deals are suspended or derailed after finding out that a purchaser’s conveyancer was not on their mortgage lender’s member panel. This can often result in the buying process being frustrated by an average of 21 days. It is estimated that this issue impacts approximately one hundred thousand home moves every year. Most Hartford conveyancing firms can not represent certain lenders so do check at the outset.
It has been four months since my purchase conveyancing in Hartford completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
About to purchase a new build flat in Hartford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Hartford
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a ground for flat up to £235,500 and identified one round the corner in Hartford I like with amenity areas and transport links nearby, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Hartford in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage that many years will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My wife and I purchased a leasehold flat in Hartford. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Hartford who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Hartford conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a basement flat in Hartford, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Hartford with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2077
With 57 years left to run the likely cost is going to range between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.