When does exchange of contracts occur in residential conveyancing in Bexley and am I required to be at the conveyancers office?
If you are in close proximity to our conveyancing solicitors in Bexley you are welcome to attend to sign documents. However, the law practices we work with provide countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when dealing with you by post or email. The signing of the contract is not the important part. Signing on the dotted line is just a prerequisite for the firm to officially exchange at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bexley)to be in the office at the appropriate time.
How does conveyancing in Bexley differ for newly converted properties?
Most buyers of new build residence in Bexley approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Bexley tend to acquire 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 conveyancing solicitors 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 Bexley or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Bexley ahead of appointing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some lenders will not issue a mortgage on this type of home.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bexley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bexley to see if the conveyancing will be more expensive.
Am I right to be suspicious about brokers that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a High Street Bexley conveyancing practice?
As with many service providers, often input from connections can be worth their weight in gold. Yet there are many players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may put forward solicitors to instruct. On occasion these lawyers might be known to one of the organisations as being good in their field, but sometimes there exists a commercial relationship behind the endorsement. You are at liberty to appoint your preferred lawyer. You need to be aware that many mortgage providers have an approved list of law firms you are obliged to use for the mortgage related work in your conveyancing.
Estate agents have just been given the go-ahead to market my garden flat in Bexley. Conveyancing has not commenced, however I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay the invoice as you normally would because all ground rent and service charges will be allotted on completion, so you will be reimbursed 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a garden flat in Bexley. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Bexley conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Bexley residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.
Why am I unable to complete our conveyancing in Bexley on Easter Monday?
This is due to the fact that on completion the sale price will pass between the banks of the purchaser and seller's conveyancer and currently this can only take place on a business day. So you can't complete on a saturday or sunday either.