We are due to complete buying a property in Emerson Park but as a result of wreckage from the recent storms I have managed to agree reparation from the seller in the sum of £2k taking the form of a reduction in the price. I had intended this to be dealt with as part of a side agreement however Co-operative will not agree to this. Should they have been approached?
The conveyancer that is on the Co-operative conveyancing panel is duty bound to inform Co-operative of any changes to the sale price. If you prohibit your property lawyer to disclose the price change to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new lawyer for your conveyancing in Emerson Park.
How does conveyancing in Emerson Park differ for new build properties?
Most buyers of new build residence in Emerson Park approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because new home sellers in Emerson Park typically purchase 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 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 Emerson Park or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Emerson Park ahead of appointing lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some banks will refuse to give a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. If you contact us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Emerson Park. Conveyancing may be slightly more expensive based on your lender's requirements.
My father-in-law has suggested that I appoint his lawyers for conveyancing in Emerson Park. Should I use them?
No doubt it’s preferable to find a conveyancing solicitor is to have guidance from friends or family who have previously instructed the solicitor that you are are thinking of instructing.
Last January I purchased a leasehold property in Emerson Park. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in Emerson Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Emerson Park conveyancing firm who can help.
An example of a Lease Extension decision for a Emerson Park residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The remaining number of years on the lease was 57.5 years.
My work colleague mentioned that when selecting a conveyancing solicitors they must be approved by your bank. I am first time buyer with but I have an offer in principle from Virgin Money and I already have a bricks and morter conveyancing solicitor in Emerson Park on standby. Can Halifax need an approved solicitor to be instructed? If so, where do I find that list for my conveyancing in Emerson Park?
You should choose a solicitor that is on the Halifax panel. The simplest thing to do is telephone your chosen Emerson Park conveyancing solicitor and ask if they are on the Halifax panel. If they are not approved you have numerous choices available to you here:
- Carry on with your existing Emerson Park conveyancing practitioner but Halifax will need to instruct a conveyancer on their approved panel. This will result in additional cost together with likely delay.
- Appoint a fresh lawyer to act in the purchase, not forgetting to check that they are on the Halifax conveyancing panel.
- Convince your property lawyer to do everything within their powers to join the Halifax conveyancing panel.
