I have given 8 weeks notice to my existing landlord and have to leave my rented flat in Hoole by the end of next month. Conveyancing for my house purchase has just started. Is it possible to complete in a couple of weeks as I wish to avoid having to find temporary accommodation?
Generally one should not provide notice for your letting until exchange of contracts has taken place. Assuming that you have not already done so, speak to your lawyer and request that they chase the owners side, try to an agreed time frame that everyone will aim towards
Finally the sale completed on my house in Hoole last January but my buyer keeps Skype messaging me to moan that his solicitor is waiting to hear from mine. What should my lawyer have done following completion?
Following your sale your lawyer should forward the transfer documentation and all additional paperwork to the purchaser's lawyers. If applicable, your conveyancer should also send confirmation that the mortgage has been redeemed to the purchasers conveyancers. There is unlikely to be post completion requirements specific conveyancing in Hoole.
I have todaybeen informed that Stirling Law have closed. They conducted my conveyancing in Hoole for a purchase of a freehold house 18 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hoole conveyancing specialists.
How does conveyancing in Hoole differ for new build properties?
Most buyers of new build premises in Hoole contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Hoole tend to 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 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 Hoole or who has acted in the same development.
I have been pointed in your direction by three or four local property agents in Hoole to select a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to promote your lawyers rather than another?
We don’t make any commission for pointing buyers and sellers our way. We thought it would be too underhand a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am a negotiator for a long established estate agent office in Hoole where we see a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Hoole conveyancing firms. Please can you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-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 sit tight for 2 years to extend their lease. 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 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.
Hoole Leasehold Conveyancing - A selection of Queries Prior to buying
Where a Hoole lease has no more than 80 years it will have adverse implications on the marketability of the flat. Check with your mortgage company that they are content with the length of the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Hoolelease extensions you would need to own the residence for 24 months before you are eligible to extend the lease. What is the the remaining lease term? Many Hoole leasehold apartments will incur a service charge for the upkeep of the block levied on behalf of the freeholder. Should you acquire the apartment you will have to meet this charge, usually in instalments accross the year. This can be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a rentcharge for you to pay yearly, normally this is not a significant figure, say about £25-£75 but you should to enquire it because occasionally it can be many hundreds of pounds.