I am buying a property for cash in Dalston. I have been living for the last 20 years in Dalston. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road very well must I have all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Dalston conveyancing searches are at your discretion. Your conveyancer will try and sway you, no-doubt strongly, that you should have searches done, but he has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it could be of relevance to your future purchaser what the searches reveal. Sometimes houses with day to day issues can still throw up unpredicted search results. A good conveyancing solicitor in Dalston will be able to give you some practical guidance in this regard.
Do I need to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Dalston so that I can attend their offices if required.
Most conveyancing panel lawyers for lenders conduct all of the work via the post, internet or over the phone. This means that they can undertake the legal work for your home move no matter where you live in the country. That being said you should see if you have the option of attending the offices of your conveyancing lawyer if you prefer.
How does conveyancing in Dalston differ for newly converted properties?
Most buyers of new build property in Dalston come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Dalston typically 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 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 Dalston 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 Dalston I like with a park and railway links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Dalston for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I have just appointed agents to market my 2 bed flat in Dalston. Conveyancing is yet to be initiated, however I have recently received a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear the maintenance contribution as usual given that all rents and maintenance charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment 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 have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Dalston conveyancing firm to represent me?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to calculate the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Dalston residence is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case was in relation to 4 flats. The unexpired term was 90 (or thereabouts).
My solicitors in Dalston have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with the bank. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the bank directly.