Finally the sale completed on my house in Buckinghamshire last February but my buyer keeps texting daily to moan that her lawyer is waiting to hear from mine. What should my lawyer have done now that I have sold?
Following your sale your solicitor should deliver the transfer deeds and all of the paperwork to the purchaser's conveyancer. If applicable, your conveyancer must also evidence that the home loan has been discharged to the purchasers conveyancers. There are no post completion steps just for conveyancing in Buckinghamshire.
How does conveyancing in Buckinghamshire differ for newly converted properties?
Most buyers of new build premises in Buckinghamshire come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because new home sellers in Buckinghamshire usually acquire the site, 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 property lawyers 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 Buckinghamshire or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £305k and found one near me in Buckinghamshire I like with a park and station nearby, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Buckinghamshire suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Is it best to choose a Buckinghamshire conveyancing lawyer in close proximity to the house I am buying? An old friend can conduct the legal formalities but her office is over three hundred kilometers drive away.
The primary upside of using a local Buckinghamshire conveyancing firm is that you can visit the firm to execute paperwork, hand in your identification documents and pester them where appropriate. They will also have local insight which is a plus. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were impressed that should surpass using an unfamiliar Buckinghamshire conveyancing solicitor just because they are round the corner.
What are your top tips when it comes to finding a Buckinghamshire conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Buckinghamshire conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Buckinghamshire conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
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How many lease extensions has the firm conducted in Buckinghamshire in the last 12 months?
Buckinghamshire Leasehold Conveyancing - Examples of Queries Prior to buying
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How many of the leaseholders are in arrears for their service charge payments? Best to be warned whether a new roof is being installed or some other significant cost is due shortly that will be shared by the tenants and will materially increase the the service fees or result in a specific invoice. Where a Buckinghamshire lease has fewer than eighty years it will impact the salability 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 sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you would be be obliged to have been the owner of the residence for two years in order to be legally able to extend the lease.
Is it true that a Buckinghamshire conveyancing firm got sued by clients for failing to conduct the appropriate conveyancing searches?
Our attention has not be brought to such a Buckinghamshire conveyancing claim but it has been reported that, a couple purchasing a property elsewhere in England successfully won a case against their lawyer as a consequence of development permission to build a wind farm not being identified in conveyancing searches.
Where you are thinking of buying a home in Buckinghamshire It is important that your conveyancing practitioner conduct all Buckinghamshire conveyancing searches required to ensure you have relevant and current information before acquiring a home in Buckinghamshire.