Should our conveyancer be raising enquiries concerning flooding during the conveyancing in Whiston.

The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Whiston. Some people will buy a house in Whiston, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.

Solicitors are not qualified to impart advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or by their solicitors which can give them a better appreciation of the risks in Whiston. The standard information sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual question of the seller to discover if the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the seller, then a buyer could bring a claim for damages resulting from an inaccurate answer. The purchaser’s solicitors will also order an environmental report. This will higlight if there is any known flood risk. If so, additional investigations will need to be carried out.

How does conveyancing in Whiston differ for new build properties?

Most buyers of new build premises in Whiston approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Whiston 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 conveyancing solicitors 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 accustomed to new build conveyancing in Whiston or who has acted in the same development.

My uncle has suggested that I appoint his lawyers for conveyancing in Whiston. Do I follow his advice?

Much as we are happy to recommend a Whiston conveyancing lawyer the ideal way to select a conveyancing practitioner is to seek feedback from friends or relatives who have previously instructed the firm that you are considering.

I am employed by a long established estate agent office in Whiston where we see a few flat sales put at risk due to short leases. I have received conflicting advice from local Whiston conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Whiston Leasehold Conveyancing - Sample of Queries before buying

You should be aware if it is less than eighty years it will have adverse implications on the value of the property. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and it is worth finding out what this would cost. For most Whistonlease extensions you will be be obliged to have been the owner of the premises for a couple of years in order to be legally able to extend the lease. The answer will be helpful as a) areas could cause problems in the block as the common areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have a dispute with the managing agents you will want to know about it What is the the remaining lease term?

We have AIP from Alliance & Leicester who indicated we could borrow up to £400k. When do we need to instruct a solicitor for conveyancing? Whiston is where we are buying.

It would be wise to appoint a property lawyer now and ask them to generate a file on your behalf. This will kickstart: 1) the estate agent to issue a Sales Memo to the relevant parties 2) the seller’s conveyancer to submit the draft contract. That being said, do not ask your lawyer to start searches until you receive your valuation report via Alliance & Leicester and you are willing to proceed.