My partner and I are acquiring a newly constructed duplex in Knebworth and my solicitor is telling me that she has to the bank to reveal incentives from the seller. The Estate Agents are hassling me to exchange contracts and I would rather not delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
As someone not used to conveyancing in Knebworth what’s the number one tip you can impart concerning the legal transfer of property in Knebworth
Not many law firms shout this from the rooftops but conveyancing in Knebworth or throughout Hertfordshire is often a confrontational process. Put another way, when it comes to conveyancing there is lots of opportunity for confrontation between you and others involved in the house moving process. For example, the vendor, selling agent and sometimes a lender. Appointing a solicitor for your conveyancing in Knebworth an important selection as your conveyancer is your adviser, and is the SOLE party in the legal process whose responsibility is to look after your legal interests and to protect you.
On occasion a potential adversary may try and persuade you that you should follow their advice. For example, the selling agent may claim to be helping by claiming that your solicitor is wrong. Or your financial adviser may advise you to do something that is against your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
We are downsizing from our house in Knebworth and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using an internet conveyancing outfit rather than a conveyancing solicitor in Knebworth. We have lived in Knebworth for 5 years we know that this is a non issue. Should we get in touch with our local Authority to get clarification need.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
My father has encouraged me to instruct his conveyancing solicitors in Knebworth. Do I take his advice?
No doubt it’s preferable to select a conveyancing solicitor is to have feedback from friends or family who have actually used the conveyancer you're considering.
I am attracted to a two apartments in Knebworth both have approximately 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Knebworth. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area.
Knebworth Leasehold Conveyancing - Sample of Queries before Purchasing
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How much is the ground rent and service charge? Is there a share of the freehold? Best to be warned if a new roof is being installed or some other major work is due shortly to be shared by the leasehold owners and may well dramatically increase the the maintenance charges or necessitate a specific payment.
I have been advised by numerous friends to expect 6-8 weeks for Knebworth conveyancing to complete.This was four weeks ago. The paperwork was only forwarded from the vendors property lawyer last week so does the clock start running now?
You should treat with caution of any conveyancing practitioner promising expedited completion times. Rather you should enquire about the average timeframe to complete Knebworth conveyancing transactions and whether they are content to work towards your proposed completion date for your home move in Knebworth