Finally the sale completed on my house in Romney last March but our buyer keeps whats apping me complaining that her solicitor needs to hear from mylawyer. What should my lawyer have done following completion?
Following your sale your solicitor should send the transfer deeds and all additional paperwork to the buyer’s lawyers. Depending on the transaction, your conveyancer must also send confirmation that the legal charge in favour of the lender has been discharged to the buyers conveyancers. There are no post completion procedures unique to conveyancing in Romney.
My bid for a property was accepted at auction in Romney. Conveyancing is necessary. What are my next steps?
Now that you have exchanged you should find a conveyancing practitioner quickly as you will have a pending a fixed date to complete the deal. Every auction property will ordinarily have an associated auction pack. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You must give this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in place to complete the transaction on the set completion date.
I am planning to move house in May. Does my conveyancing solicitor update the removal company on the day of completion. As an aside, can you recommend a removal company in Romney. Conveyancing solicitor was organised prior to coming across this page.
On the day of completion you will need to collect the keys from the estate agent but this should only happen after the sellers conveyancers advise the agent that they have the completion monies and the keys can be released. You can inform the removal men that they can start moving you in. We do not recommend a specific removal company but can help you find a conveyancing in Romney or a lawyer with expertise in conveyancing in Romney.
Are all Romney Conveyancing Quality Solicitors on the Virgin Money conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
The estate agent has sent us the confirmation of our purchase of a new build flat in Romney. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Romney
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Romney is where the house is located. Is there any guidance you can impart?
Flying freeholds in Romney are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Romney you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Romney may determine 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 property.
I am tempted by the attractive purchase price for a two apartments in Romney both have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Romney is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and banks, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Romney conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I own a studio flat in Romney, conveyancing was carried out May 1997. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Romney with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease finishes on 21st October 2099
With 73 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
Please can you recommend a cheap Romney property lawyer for purchasing a flat? A work colleague recommended one but their estimate was £895 for a 175k property. I think thats a wee bit steep. The lender will be Virgin Money.
LenderPanel.com is restricted to being a directory service for lawyers who want to be listed as being on the approved conveyancing panel for Virgin Money in certain locations for example Romney . Our intention is not to recommend any particular solicitor.