Do conveyancers ask for money up-front when it comes to conveyancing in Benson?
Where you are retaining lawyers for conveyancing in Benson your solicitor will ask you put them with funds to cover the search fees. Normally this is needed to cover the fees of the conveyancing searches. When the down payment is payable against the total price then this will be required immediately in advance of exchange of contracts. Any further balance that is due should be transferred a few days prior to the completion date.
Do commercial conveyancing searches reveal planned roadworks that could affect a commercial estate in Benson?
Many commercial conveyancing solicitors in Benson will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Benson. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Benson.
For every commercial conveyancing transaction in Benson it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Benson commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Benson.
How does conveyancing in Benson differ for newly converted properties?
Most buyers of new build residence in Benson contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Benson typically 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 Benson or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, chain free conveyancing. Benson is the location of the property. Can you offer any assistance?
Flying freeholds in Benson are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Benson you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Benson may decide 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 residence.
How can the Landlord & Tenant Act 1954 affect my business property in Benson and how can your lawyers assist?
The 1954 Act provides a safeguard to business lessees, giving them the right to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Benson is one of our numerous areas of the UK in which our lawyers are based
I have just appointed agents to market my basement apartment in Benson. Conveyancing lawyers have not yet been instructed, however I have recently received a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as usual as all ground rent and maintenance payments will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Benson - Examples of Questions you should ask Prior to Purchasing
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Is anyone aware of any major works anticipated that will likely add a premium to the maintenance costs? Are any of leasehold owners in arrears of their service charge payments? Where a Benson lease has fewer than 80 years it will impact the marketability of the property. It is worth checking with your lender that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably require a lease extension at some point and it is worth finding out what this would cost. Remember, in most cases you will need to own the property for a couple of years before you are eligible to carry out a lease extension.