When dealing with high value properties, it is often necessary to address unique features. Our expert lawyers have considerable experience of such features, some of which we explore below.
Boundaries
Higher value properties often come with larger gardens or land. It is really important to be clear about the position of the boundaries and the extent of the property, particularly where the boundaries are undefined. The Land Registry operate a ‘General boundaries rule’ which means they will not determine the precise line of the boundary unless an application is made to them for the boundary to be fixed. As such, if there is any uncertainty about the boundary position on the ground, this should be considered as part of the transaction.
Drainage
higher value properties are often served by a private drainage system. In the case of a purchase, it is important to check the title documents and raise relevant queries of the seller about the drainage system to ensure all the necessary rights are in place for the system’s use and maintenance. It is also important to check the current system is complaint with prevailing regulations and what the practical arrangements are for use and maintenance.
Access
Access to higher value properties is often over a roadway or track that is not publicly adopted and so is classed as private. It is important to be consider the terms of any right of way granted for the benefit of a property and to clear about who is responsible for the maintenance and upkeep of the private accessway, particularly if there are shared arrangements in place.
Additional searches
Our experienced team can advise you about any additional searches that may be needed given the nature and location of the property you are purchasing. Additional searches needed often relate to identifying areas of common land or footpaths and bridleways which may affect the property.
Why Choose Biscoes?
The features mentioned above are just a few examples that we come across when dealing with higher value properties. We have a great wealth of experience in handling large property transactions, regardless of their location. You can rest assured that we have the expertise to identify these matters, advise you about them and if necessary, resolve the related issues they can bring.
Every client benefits from a designated lawyer to guide you through the process and oversee the transaction from the point of instruction through to completion. We also have an Internal Locum who provides cover in the event your designated lawyer is unwell or on holiday, to ensure there is no delay to your matter.
Crucially, we are proactive on your behalf and will communicate with your mortgage lender, your mortgage broker estate or land agents and other parties to complete the transaction as quickly as possible.
Our Residential Property Team have many years’ experience assisting clients across the Isle of Wight, Portsmouth, Hampshire and beyond. Biscoes are members of the Law Society’s Conveyancing Quality Scheme (CQS) which is a recognised quality standard for firms in the industry undertaking Residential Conveyancing. The Scheme is recognised by the various financial bodies such as The Council of Mortgage Lenders and Building Societies Association, meaning that we are able to deal with the vast majority of Mortgage Lenders on your behalf.
We will provide a full breakdown of the likely costs of the transaction at the outset.
For further information please do not hesitate to contact our Residential Property Team on 01983 533938.
