Finally the sale completed on my house in Drakes Cross last September but my buyer keeps Skype messaging daily to moan that her solicitor is waiting to hear from mylawyer. What should my lawyer have done following completion?
Following your sale your lawyer should send the transfer deeds and all supplemental paperwork to the buyer’s solicitors. Depending on the transaction, your solicitor must also send confirmation that the mortgage has been repaid to the buyers solicitors. There are no post completion steps unique to conveyancing in Drakes Cross.
I used Arc property Solicitors a few years past for my conveyancing in Drakes Cross. Now, I need the documents however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Drakes Cross of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Drakes Cross differ for newly converted properties?
Most buyers of new build residence in Drakes Cross contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Drakes Cross usually buy 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 conveyancers 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 Drakes Cross or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Drakes Cross is where the house is located. Is there any advice you can impart?
Flying freeholds in Drakes Cross are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Drakes Cross you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Drakes Cross may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Drakes Cross and how can you help?
The 1954 Act affords a safeguard to commercial tenants, giving them the dueness to apply to court for a new tenancy and remain in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Drakes Cross
I am a negotiator for a reputable estate agent office in Drakes Cross where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Drakes Cross conveyancing firms. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that 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 buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is 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 buyer.
Leasehold Conveyancing in Drakes Cross - Examples of Queries Prior to Purchasing
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Where a Drakes Cross lease has no more than eighty years it will have adverse implications on the value of the apartment. It is worth checking with your lender that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will be required to have been the owner of the premises for a couple of years before you are entitled to extend the lease. Are there any major works on the horizon that will likely add a premium to the maintenance fees? How many of the leaseholders are in arrears for their maintenance charge payments?