I am purchasing a semi-detached house in Chelsea. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Chelsea you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Chelsea.
Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial land in Chelsea?
Its becoming the norm that commercial conveyancing solicitors in Chelsea will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Chelsea. The report provides definitive information 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 Chelsea.
For each commercial conveyancing transaction in Chelsea it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Chelsea commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Chelsea.
Are there restrictive covenants that are commonly identified as part of conveyancing in Chelsea?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Chelsea. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Chelsea differ for new build properties?
Most buyers of new build residence in Chelsea approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Chelsea tend to purchase 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 Chelsea or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Chelsea I like with a park and transport links nearby, however it only has 51 years on the lease. There is not much else in Chelsea in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
Am I better off to use a Chelsea conveyancing lawyer who is local to the property I am buying? An old friend can execute the legal formalities however his firm is located 200kilometers drive away.
The benefit of a local Chelsea conveyancing practice is that you can drop in to sign paperwork, deliver your identification documents and apply pressure on them where appropriate. They will also have local insight which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were happy that must surpass using an unknown Chelsea conveyancing solicitor just because they are Chelsea based.