Last April we completed a house move in Kingsbridge. We have noticed several issues with the property which we believe were overlooked in the conveyancing searches. Do we have any recourse? What searches should? have been carried out for conveyancing in Kingsbridge?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Kingsbridge. Conveyancing searches and investigations undertaken during the buying process are carried out to help avoid problems. As part of the process, a seller completes a form known as a Seller’s Property Information Form. If the information ends up being inaccurate, you may have a misrepresentation claim against the seller 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 Kingsbridge.
How up to date is your database of Kingsbridge solicitors on the Co-operative conveyancing panel? Do Co-operative send you an updated list?
Kingsbridge conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
The deeds to my home can not be found. The lawyers who did the conveyancing in Kingsbridge 10 years ago are no longer around. What are my next steps?
You no longer need to hold title official documentation to establish that you are the owner of your registered land or property, as the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Kingsbridge differ for new build properties?
Most buyers of new build premises in Kingsbridge come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Kingsbridge tend to buy the land, 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 accustomed to new build conveyancing in Kingsbridge or who has acted in the same development.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Kingsbridge. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Kingsbridge are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Kingsbridge so you should seriously consider looking for a Kingsbridge conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should appraise you on the various issues.
I am the registered owner of a leasehold flat in Kingsbridge, conveyancing having been completed 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Kingsbridge with a long lease are worth £176,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2069
You have 50 years remaining on your lease we estimate the price of your lease extension to range between £31,400 and £36,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.