Despite weeks of looking the Title Certificate and documents to our home are lost. The lawyers who dealt with the conveyancing in Walton on the Naze 5 years ago no longer exist.What are my options?
Gone are the days when you need to have the physical official documentation to evidence that you are the owner of your registered land or premises, as the Land Registry have everything they need in a digital format.
How does conveyancing in Walton on the Naze differ for new build properties?
Most buyers of new build premises in Walton on the Naze 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 Walton on the Naze typically buy the real estate, 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 accustomed to new build conveyancing in Walton on the Naze or who has acted in the same development.
I am looking for a flat up to £195,000 and found one round the corner in Walton on the Naze I like with a park and transport links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Walton on the Naze in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage that many years may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.