Having sold my house in Penryn last October but the buyer keeps telephoning daily complaining that her solicitor is waiting to hear from mine. What should have happened following completion?
Following your disposal your conveyancer should forward the transfer deeds and all additional paperwork to the purchaser's solicitors. If applicable, your lawyer should also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers solicitors. There are no post completion formalities just for conveyancing in Penryn.
My friend advised me that where I am purchasing in Penryn I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Penryn conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Penryn around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Penryn Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Penryn.
I have recentlybeen informed that Action Conveyancing have closed. They conducted my conveyancing in Penryn for a purchase of a leasehold flat 9 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest method to see if the property is registered to you, 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 Penryn conveyancing specialists.
How does conveyancing in Penryn differ for new build properties?
Most buyers of new build or newly converted property in Penryn contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Penryn typically purchase the site, 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 Penryn or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Penryn is the location of the property. What do you suggest?
Flying freeholds in Penryn are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Penryn you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penryn may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am employed by a busy estate agent office in Penryn where we have witnessed a number of flat sales derailed due to short leases. I have been given conflicting advice from local Penryn conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 buyer.
Leasehold Conveyancing in Penryn - Examples of Questions you should ask before Purchasing
Plenty Penryn leasehold apartments will incur a service bill for maintenance of the block levied on behalf of the freeholder. Should you purchase the apartment you will have to meet this contribution, usually periodically accross the year. This could be anything from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a exorbitant sum, say about £50-£100 but you should to check it because occasionally it can be many hundreds of pounds. How much is the ground rent and service charge? How is the lease structured?