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Recently asked questions about conveyancing in Tring

I have given 2 months notice to my current landlord and have to be out of my let out property in Tring by 28/3/2023. Conveyancing on my purchase is underway. Is it possible to complete in 5 weeks as I wish to avoid having to find temporary accommodation?

Generally one should not serve notice for your tenancy unless exchange of contracts has taken place. Assuming that you have not previously done so, contact to your solicitor and request that they apply pressure on the other side, try to get a realistic time scale from them that everyone will aim to achieve

Will our lawyer be raising questions regarding flooding as part of the conveyancing in Tring.

The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Tring. There are those who acquire a house in Tring, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Solicitors are not qualified to impart advice on flood risk, but there are a various searches that may be carried out by the purchaser or by their conveyancers which can figure out the risks in Tring. The conventional set of property information forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the seller to find out whether the premises has historically flooded. If the residence has been flooded in past and is not disclosed by the vendor, then a purchaser could issue a compensation claim as a result of such an misleading answer. A purchaser’s solicitors should also conduct an environmental search. This should higlight if there is a recorded flood risk. If so, additional investigations should be made.

Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who dealt with the conveyancing in Tring 10 years ago are no longer around. What are my options?

Assuming the title is registered the information relating to your proprietorship will be held by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, identify your house and obtain current copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will usually hold a file duplicate of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.

How does conveyancing in Tring differ for new build properties?

Most buyers of new build premises in Tring come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Tring usually purchase the site, 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 Tring or who has acted in the same development.

What are the frequently found problems that you come across in leases for Tring properties?

Leasehold conveyancing in Tring is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    A provision for the recovery of money spent for the benefit of another party.

You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

Leasehold Conveyancing in Tring - A selection of Queries Prior to Purchasing

    What restrictions exist in the Tring Lease? Where a Tring lease has less than 80 years it will have adverse implications on the marketability of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably require a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you will be be obliged to have been the owner of the residence for two years before you are entitled to extend the lease. What is the annual maintenance fee and ground rent?

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