When can the exchange of contracts take place for domestic conveyancing in Cranfield and do I need to be at the conveyancers office?
Where you are near to one of the conveyancing solicitors in Cranfield you are invited in to sign contracts. However, the lender approved solicitors we recommend provide a national conveyancing service and give as equally detailed and professional a job for you when communicating with you by post or email. The signing of the purchase agreement is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Cranfield)to be in the office at the appropriate time.
My wife and I purchased a semi-detached Edwardian house in Cranfield. Conveyancing solicitor represented me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cranfield and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing solicitor who completed the work.
How does conveyancing in Cranfield differ for new build properties?
Most buyers of new build residence in Cranfield approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Cranfield usually 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 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 Cranfield or who has acted in the same development.
I have been on the look out for a flat up to £305k and identified one round the corner in Cranfield I like with a park and railway links in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Cranfield for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
My partner has urged me to use his conveyancers in Cranfield. Do I take his guidance?
No doubt the ideal way to find a conveyancing solicitor is to get recommendations from friends or relatives who have actually previously instructed the firm you're contemplating using.
We expect to complete the sale of our £400,000 flat in Cranfield next week. The managing agents has quoted £360 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Cranfield?
Cranfield conveyancing on leasehold apartments more often than not requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to complete the sale of your home.
Cranfield Leasehold Conveyancing - Sample of Questions you should ask before buying
Are any of leasehold owners in dispute over their service charge liability? It would be sensible to find out as much as you can concerning the company managing the building as they will either make life much simpler or uncomfortable. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to daily matters like the upkeep of the communal areas. Enquire of other people if they are happy with their management. On a final note, be sure you know the dates that the service charges are due to the managing agents and specifically how they are spending that money. In the main the outlay for major works are not incorporated into the service charges, albeit that some managing agents in Cranfield obliged tenants to pay into a reserve fund and this is used to offset against larger works.