Having sold my house in High Wycombe last October yet the purchaser is calling every few hours complaining that his lawyer is waiting to hear from myconveyancer. What are the post completion sale legalities following completion?
Post completion of your disposal your conveyancer should forward the transfer documentation and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your lawyer should also evidence that the legal charge in favour of the lender has been discharged to the buyers conveyancers. There are no post completion requirements unique to conveyancing in High Wycombe.
Are there restrictive covenants that are commonly identified during conveyancing in High Wycombe?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in High Wycombe. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in High Wycombe differ for newly converted properties?
Most buyers of new build residence in High Wycombe come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in High Wycombe typically buy 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 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 High Wycombe or who has acted in the same development.
How does the Landlord & Tenant Act 1954 affect my commercial property in High Wycombe and how can your lawyers assist?
The 1954 Act gives security of tenure to commercial lessees, granting the legal entitlement to apply to court for a new lease and remain in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in High Wycombe
I am a negotiator for a reputable estate agent office in High Wycombe where we see a few flat sales put at risk due to short leases. I have received contradictory information from local High Wycombe conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as 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. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
High Wycombe Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
This information is helpful as a) areas could result in problems for the building as the common areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the managing agents you will wish to have full disclosure Best to be warned if redecorating or some other major work is due in the foreseeable future to be shared by the leaseholders and will dramatically impact the level of the service charges or result in a one off invoice. Please inform me if there are any major works anticipated that could add a premium to the maintenance costs?
As a tenant I am on the hook for a maintenance contribution for my property in High Wycombe. Due to losing my job and other issues I slipped behind with payments. The managing agents agreed a settlement plan but there is still three thousand pounds outstanding at the current time.
I now wish to dispose of the property and I am nervous that this may jeopardize the sale if I have to settle the amount due first. Do I have to settle before - is this viable?
Do speak with the lawyer carrying out your High Wycombe conveyancing but one option might be to arrange for the outstanding amount to be attributed to the purchasers. The purchase price due would be reduced to reflect the amount of debt they assume. They could then discharge the arrears following completion of the sale.