I am under pressure from the owner of a property in Foots Cray to sign contracts within four weeks. What can I do to expedite matters?
In the event that you are under a tight deadline for your conveyancing we would recommend that your conveyancer is familiar with the area as they will have local connections and intelligence. It is even conceivable that they may have transacted previousproperties in the same neighbourhood. Therefore consider using a Foots Cray conveyancing solicitor. In addition, check that the lawyer is on the member panel. It is claimed that 18% of Foots Cray conveyancing deals are delayed or derailed after discovering a buyer’s conveyancer was not on their banks list of approved solicitors. This can often result in the legal transfer of property being frustrated by almost 21 days. It is claimed that this issue affects approximately 100,000 home moves annually. Many Foots Cray conveyancing practices can not act for certain lenders so do check at the outset.
My lender has suggested solicitors on their panel based in Foots Cray but I would rather instruct a conveyancing lawyer in Foots Cray round the corner to me. Are you able to help?
Not all Foots Cray conveyancing practitioners are on all lender’s conveyancing panel. Do make use of our search tool to choose a Foots Cray conveyancing solicitor on the on the mortgage company panel.
Should our conveyancer be making enquiries regarding flooding during the conveyancing in Foots Cray.
Flooding is a growing risk for conveyancers carrying out conveyancing in Foots Cray. There are those who purchase a house in Foots Cray, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a various searches that may be initiated by the buyer or by their conveyancers which should give them a better appreciation of the risks in Foots Cray. The conventional set of property information forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to determine whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the vendor, then a purchaser may issue a claim for damages as a result of such an incorrect response. A buyer’s conveyancers will also commission an environmental report. This will reveal if there is any known flood risk. If so, more detailed investigations will need to be carried out.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in Foots Cray I like with a park and railway links in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Foots Cray in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
In sourcing the internet for the words on line conveyancing in Foots Cray it reveals numerous solicitorsin the area. How do I determine which is the right solicitor for my move?
The ideal way of finding a suitable conveyancer is via trusted referral, so ask friends and family who have bought a property in Foots Cray or the respected estate agent or mortgage broker. Fees for conveyancing in Foots Cray differ, so it's a good idea to request a minimum of three quotes from varying types of law firms. Be sure to obtain confirmation that the costs are guaranteed not to increase.
Last July I purchased a leasehold flat in Foots Cray. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).
We have reached the end of our tether in trying to reach an agreement for a lease extension in Foots Cray. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price payable.
An example of a Lease Extension case for a Foots Cray residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.