Frequently Asked Questions
However, as a very general guide once every link in the chain has been made and solicitors instructed by all parties in the chain then, unless there are any unusual snags, completion of the purchase should take place within six to eight weeks.
We will carry out searches and will probably ask some additional questions of the seller’s solicitors.
If you buy a freehold property, in law you are buying the land on which the building is standing, together with the air space above it and the soil beneath it, together with the garden (if any). Since you cannot own slices of air space, properties which overlap one another such as flats are nearly always sold as leasehold. This means that there will be an individual or individuals or a company which will own the freehold of the site on which the building stands. The owner of that freehold creates leases for each flat in the building.
A lease is a lengthy and comprehensive document which creates the relationship of landlord and tenant. This is inevitably a far more complex relationship than being the owner of a freehold property. The lease needs to make provision for:
- repairs of the whole building as well as the repair of your particular flat;
- insurance of the whole building;
- the rights to use common staircases, footpaths, gardens etc.
You will almost certainly have to:
- pay a ground rent to the landlord;
- contribute towards the insurance;
- contribute towards the services and repairs of the development
These service charges may be collected monthly, quarterly, half-yearly or annually.
Completion dates will be agreed between all parties prior to exchange.
As noted above we appreciate buying a property can be a stressful experience. Since we will be undertaking searches and enquiries on the property there may be periods of a week or more when we have nothing to report. Rest assured we will contact you as soon as there is anything important to tell you.
hey are both dependent upon one another. Will you be able to tie them in together?
Yes. This is the most common situation and we will ensure that the sale and purchase are co-ordinated so that you complete your sale and your purchase on the same day if that is your wish. If you are moving a long distance however, it may mean that you will move into your new property the day after you move out of the property you are selling.
Please see Selling Property
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For more information and a no obligation discussion, please complete the contact form or call us on 01603 615 731.
Our Specialists
Associate - Norwich Team Leader
Conveyancing
Gemma Murrell
12Partner
Conveyancing, Personal Injury
Shelyna Mariscal
12Associate - North Norfolk Team Leader
Conveyancing
Sue Lloyd
12