We are selling our house in Llay and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any high street Llay lawyer would know that there is no such problem. It does beg the question why the purchasers instructed a national conveyancing practice rather than a conveyancing solicitor in Llay. Having lived in Llay for 4 years we know of no issue. Do we contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
The deeds to my house can not be found. The lawyers who dealt with the conveyancing in Llay 10 years ago no longer exist. What do I do?
Nowadays there are copies made of almost everything, and your conveyancer will know precisely where to look for all the relevant paperwork so you may buy or sell your property without any difficulty. If copies can’t be located, your solicitor may be able to put in place insurance or indemnities protecting you against possible claims on your property.
The estate agent has sent us the confirmation of our purchase of a new build flat in Llay. Conveyancing is daunting 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 legal work.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Llay
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
What makes your site different to other web based conveyancing brokers when it comes to conveyancing in Llay?
At this site secure an accurate quote from a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Llay. Unlike many estate agents and brokerage sites we are not in the business of charging firms a commission if you select them for your home move in Llay
I am tempted by the attractive purchase price for a couple of flats in Llay which have in the region of fifty years left on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in Llay is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Llay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a garden flat in Llay, conveyancing was carried out in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Llay with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ceases on 21st October 2078
You have 60 years unexpired we estimate the price of your lease extension to be between £20,000 and £23,000 plus 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 cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.