My partner and I are downsizing from our property in Tunstall and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A high street Tunstall conveyancer would know this is not the case. It does beg the question why the buyers instructed a national conveyancing firm as opposed to a conveyancing solicitor in Tunstall. Having lived in Tunstall for three years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You must check with 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 illness)
Are there restrictive covenants that are commonly picked up during conveyancing in Tunstall?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Tunstall. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Tunstall differ for newly converted properties?
Most buyers of new build residence in Tunstall contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because builders in Tunstall 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 Tunstall or who has acted in the same development.
Can you provide any top tips for leasehold conveyancing in Tunstall with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Tunstall can be avoided where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers’ representatives. Many landlords or managing agents in Tunstall charge for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Tunstall. If you hold a share in a the Management Company, you should make sure that you are holding the original share document. Obtaining a new share certificate can be a time consuming formality and frustrates many a Tunstall conveyancing transaction. Where a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. Some Tunstall leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I inherited a 2 bed flat in Tunstall, conveyancing having been completed in 2006. Can you work out an approximate cost of a lease extension? Corresponding flats in Tunstall with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2080
With just 62 years left to run we estimate the price of your lease extension to span between £17,100 and £19,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
My mum and dad are unable to locate their Tunstall property on the HMLR online search facility. They have a vague memory back in the 70’s when they purchased the property there were complications concerning the address not being identified on some systems.
Nearly all properties in Tunstall should appear. Have you attempted a search to just the postcode. Ordinarily it will identify all the residences within the postcode. Where registered it will be there with a title number. Where they bought back in the 70’s it's conceivable it may be unrecorded. The address could still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title documentation which might be with your parent’s lender.