Can the conveyancing lawyers that are recommend carry out auction conveyancing in Stone?
There are a number of auction solicitors we can put you in touch with those specialising in auction conveyancing. Stone is just one of hundreds of areas of where our lawyers have offices.
The estate agent has sent us the confirmation of our purchase of a new build flat in Stone. 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 is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Stone
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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I am looking for a ground for flat up to £305k and identified one round the corner in Stone I like with open areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Stone for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Planning to sign contracts shortly on a studio apartment in Stone. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Stone should include some of the following:
The length of the lease term. You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark What options are open to you if another leaseholder in the building breaches a clause of their lease? The physical ownership of the demise. This might be the flat itself but may incorporate a roof area or storage are if applicable. Additions to the premises
I acquired a 1 bedroom flat in Stone, conveyancing formalities finalised 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Stone with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ceases on 21st October 2076
With 58 years left to run the likely cost is going to be between £21,900 and £25,200 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
The conveyancers undertaking our conveyancing in Stone has sent documents to review that state the land is unregistered with epitome documents. Surely all houses in Stone should be registered?
Most property in Stone is registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Stone conveyancing solicitors will be capable of dealing with such matters but if any uncertainty prevails the conventional guidance these days is for the vendor’s solicitor to address the registration formalities first and subsequently sell - this will predictably result in a prolonged home move.