Finally the sale completed on my house in Broadstairs last February yet the purchaser is whats apping every few hours complaining that their solicitor needs to hear from mine. What should have happened following completion?
Post completion of your sale your conveyancer is obliged to send the transfer deeds and all additional paperwork to the purchaser's lawyers. Where appropriate, your conveyancer must also evidence that the home loan has been repaid to the buyers solicitors. There is unlikely to be post completion formalities unique to conveyancing in Broadstairs.
Please explain the implications if my lawyer’s firm is suspended from the Lloyds Conveyancing panel ahead of completing my conveyancing in Broadstairs?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How does conveyancing in Broadstairs differ for newly converted properties?
Most buyers of new build property in Broadstairs come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Broadstairs typically acquire the real estate, 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 accustomed to new build conveyancing in Broadstairs or who has acted in the same development.
Do I need to be concerned by 3rd parties that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a local Broadstairs conveyancing company?
As with lots of service providers, often recommendations from family and friends can be very helpful. Nevertheless there are many people with a vested interest in a conveyancing deal; estate agents, financial adviser and mortgage companies may recommend lawyers to select. Sometimes these conveyancers might be known to one of the organisations as experts in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You have the right to select your preferred lawyer. You need to be aware that the majority of mortgage providers specify a panel list of conveyancers you are obliged to use for the mortgage related work in your transaction.
In my capacity as executor for the will of my uncle I am disposing of a residence in Cardiff but I am based in Broadstairs. My solicitor (approximately 300 miles from meneeds me to execute a stat dec ahead of the transaction finalising. Can you recommend a conveyancing solicitor in Broadstairs who can witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are based in Broadstairs
Do you have any advice for leasehold conveyancing in Broadstairs from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Broadstairs can be reduced if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers’ representatives. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Broadstairs state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals to hand you should not contact the landlord without contacting your lawyer in the first instance. The majority of freeholders or Management Companies in Broadstairs levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Broadstairs. If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unresolved. You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
Broadstairs Leasehold Conveyancing - A selection of Questions you should ask before buying
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Who manages the building? Are there any major works on the horizon that could add a premium to the service charges? Be sure to find out if there is anything that is prohibited in the lease. For instance some leases prohibit pets being permitted in in a block in Broadstairs. If you love the propertyin Broadstairs however your dog can’t move with you then you have a very hard compromise.