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Recently asked questions about conveyancing in Llandudno

We hired a Llandudno based lawyer for our conveyancing in Llandudno yesterday. Reviewing the small print it is apparent thatwe are liable for fees even if the sale doesn't happen. Should I ditch them and choose a web based conveyancing company advertising no completion no charge conveyancing in Llandudno?

Generally there is a compromise along the lines that if "No Sale No Fee" is available then the fee levels will tend to be be higher to cover the conveyances that fail to complete. You should be mindful that such schemes generally do not protect you from disbursements for instance Llandudno conveyancing search fees.

Are there restrictive covenants that are commonly identified during conveyancing in Llandudno?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Llandudno. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

The estate agent has sent us the confirmation of our purchase of a new build apartment in Llandudno. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Llandudno

    Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.

I am looking for a flat up to £235,500 and identified one near me in Llandudno I like with a park and station nearby, however it only has 61 years on the lease. There is not much else in Llandudno in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.

I am a negotiator for a busy estate agent office in Llandudno where we see a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Llandudno conveyancing solicitors. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Leasehold Conveyancing in Llandudno - Examples of Questions you should ask before Purchasing

    Does the lease have onerous restrictions? The answer will be useful as a) areas may cause problems for the building as the communal areas may begin to deteriorate where services are not paid for b) if the tenants have an issue with the managing agents you will wish to have all the details The prefered form of lease arrangement is if the freehold interest is owned by the leaseholders. In this scenario the leaseholders have control and although a managing agent is often employed if it is bigger than a house conversion, the managing agent retained by the leaseholders.

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