Will my lawyer be raising questions concerning flooding as part of the conveyancing in Montpelier.

The risk of flooding is if increasing concern for solicitors conducting conveyancing in Montpelier. There are those who acquire a property in Montpelier, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.

Lawyers are not best placed to offer advice on flood risk, however there are a number of searches that may be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Montpelier. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to find out if the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a purchaser could bring a legal claim for losses stemming from an incorrect answer. The buyer’s solicitors will also order an enviro search. This should higlight whether there is a recorded flood risk. If so, more detailed investigations should be initiated.

How does conveyancing in Montpelier differ for new build properties?

Most buyers of new build residence in Montpelier approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Montpelier tend to purchase 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 used to new build conveyancing in Montpelier or who has acted in the same development.

I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Montpelier is where the house is located. Is there any guidance you can impart?

Flying freeholds in Montpelier are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Montpelier you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Montpelier may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

We're first time buyers - agreed a price, but the estate agent has warned us that the owners will only go ahead if we use their preferred solicitors as they need a ‘quick sale’. We would rather use a high street conveyancer with experience of conveyancing in Montpelier

We suspect that the seller is unaware of this ultimatum. If they desire ‘a quick sale', alienating a serious buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you are going to appoint your own,trusted Montpelier conveyancing firm - rather thanthose that will provide their negotiator at the agency a introducer fee or achieve conveyancing thresholds set by head office.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Montpelier. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Montpelier are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are buying in Montpelier so you should seriously consider shopping around for a Montpelier conveyancing solicitor 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. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

Montpelier Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying

Is the freehold reversion owned jointly by the tenants? In the main the outlay for major works tend not to be included within maintenance charges, although some managing agents in Montpelier require leasehold owners to contribute towards a reserve fund and this is used to offset against larger works.