Last March we completed a house move in Keyworth. We have noticed several issues with the property which we believe were missed in the conveyancing searches. What action can we take? What searches should? have been carried out for conveyancing in Keyworth?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Keyworth. Conveyancing searches and investigations initiated during the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner fills in a questionnaire known as a SPIF. If the information turns out to be inaccurate, then you may have a claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Keyworth.
Do the Building Society Association intend to launch a online directory to to identify practices on the Norwich and Peterborough Building Society conveyancing panel for example in Keyworth?
We have not been informed any intention on the part of the BSA to promote such a tool.
I require expedited conveyancing in Keyworth as I have pressure to complete within 2 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are are a cash purchaser you have the choice not to have searches carried out although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Keyworth the following are examples of issues that can show up and therefore affect market value: Enforcement Actions, Overdue Fees, Overdue Grants, Unadopted Roads,...
How does conveyancing in Keyworth differ for new build properties?
Most buyers of new build or newly converted property in Keyworth contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Keyworth usually buy the site, 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 property lawyers 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 used to new build conveyancing in Keyworth or who has acted in the same development.
I am looking for a flat up to £195,000 and found one round the corner in Keyworth I like with amenity areas and transport links nearby, however it's only got 52 years on the lease. There is not much else in Keyworth in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.