I have given 8 weeks notice to my existing landlord and must be out of my rented apartment in South Yorkshire by 27/3/2024. Conveyancing on my purchase is progressing. How realistic is it to complete in six weeks as I wish to avoid having to move into short term accommodation?
The normal practice is not to serve notice on a rental until exchange of contracts has taken place. Assuming that you have not previously done so, speak to your conveyancer and ask them to they cajole the other solicitors, try to get a realistic time scale from them that everyone will aim to achieve
Will our lawyer be asking questions about flooding during the conveyancing in South Yorkshire.
The risk of flooding is if increasing concern for conveyancers dealing with homes in South Yorkshire. Plenty of people will purchase a house in South Yorkshire, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a various searches that may be carried out by the purchaser or by their conveyancers which can give them a better appreciation of the risks in South Yorkshire. The conventional set of completed inquiry forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to discover whether the property has ever been flooded. If flooding has previously occurred and is not disclosed by the seller, then a purchaser may issue a compensation claim stemming from an inaccurate response. A purchaser’s lawyers should also order an environmental search. This should disclose if there is any known flood risk. If so, additional investigations will need to be carried out.
About to purchase a new build flat in South Yorkshire. Conveyancing is a frightening process 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 conveyancing.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in South Yorkshire
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
I have been on the look out for a flat up to £245,000 and found one round the corner in South Yorkshire I like with a park and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in South Yorkshire for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I have been recommended a conveyancing solicitor in South Yorkshire. I need to find out if they are on the lender's approved list of lawyers. Could you or the bank confirm if they are on the panel?
It’s a good idea call your solicitor to check if they are on the lender's panel. If that does not help get in touch with us and we can investigate and revert. If they are not on the lender panel we we can help find a reputable conveyancing solicitor in South Yorkshire on the approved list for your lender.