When can the exchange of contracts occur in sale conveyancing in Fulham and do I need to be at the solicitors branch?
If you are in close proximity to our conveyancing solicitors in Fulham you are welcome to come in to sign the paperwork. However, the lender approved solicitors we work with offer a national conveyancing service and give just as comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not the critical part. Signing on the dotted line simply enables the conveyancer 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 a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Fulham)to be in the office available at the end of the phone to exchange contracts.
I used Arc property Solicitors a few years past for my conveyancing in Fulham. I now require my file however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Fulham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Fulham differ for new build properties?
Most buyers of new build property in Fulham come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Fulham typically acquire 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 conveyancers 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 Fulham or who has acted in the same development.
I decided to have a survey done on a house in Fulham prior to appointing lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some banks may refuse to grant a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. Should you wish to call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fulham. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a negotiator for a busy estate agency in Fulham where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Fulham conveyancing firms. Please can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a ground flat in Fulham. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a Freehold Enfranchisement decision for a Fulham property is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case was in relation to 2 flats. The unexpired term as at the valuation date was 93 years and 162 years.
I have today placed an offer on a leasehold flat in Fulham and the broker that we are using recommended his conveyancing practitioner. He quoted £1000 excluding VAT and 3rd party costs. Does this sound steep?
You should not rely on 1 quote. One should seek like-for-like quotes for your conveyancing in Fulham. Then select one that you are comfortable with and just as important, is on the approved panel of the bank that you are sourcing your mortgage from.