I just acquired a property at auction in Thatcham. Conveyancing is necessary. What is next?
Now that you have exchanged you will need to find a conveyancing practitioner soon as you are faced with a tight deadline in which to complete the transaction. All auction property will have an associated legal set of papers. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You should pass this on to the solicitor working for you as soon as possible. You also need to ensure that your finances are in place to complete on the on the contractual date .
Is it the case that all Thatcham conveyancing solicitors on the TSB conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the TSB approved list of solicitors they would need to be overseen by the SRA. Some lenders do list licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
I recently had an offer agreed on an apartment in Thatcham. My financial adviser recommended their conveyancers. I paid an advanced payment of £175. A couple of days later, the property lawyer called me embarrassingly acknowledging that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I require quick conveyancing in Thatcham as I have pressure to sign on the dotted line in less than 4 weeks. Fortunately I do not need a mortgage. Can I escape the need for conveyancing searches to save fees and time?
As you are not taking a mortgage you have the choice not to have searches conducted although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Thatcham the following are examples of issues that can appear and therefore impact future saleability: Enforcement Actions, Outstanding Fees, Overdue Grants, Road Schemes,...
Are there restrictive covenants that are commonly identified as part of conveyancing in Thatcham?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Thatcham. 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…’
I need to instruct a conveyancing solicitor for sale conveyancing in Thatcham. I have stumble across a web site which seems to have the perfect solution If there is a chance to get all formalities done via email that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a busy estate agency in Thatcham where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Thatcham conveyancing firms. Could you clarify whether the owner 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 before, or simultaneously with completion of the sale.
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.
Thatcham Conveyancing for Leasehold Flats - Examples of Queries before buying
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You will want to find out as much as you can about the company managing the building as they can either make life much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the cleanliness of the communal areas. Enquire of other people whether they are happy with their management. On a final note, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and precisely how they are spending the funds. Are there any major works anticipated that could increase the maintenance costs? Who manages the block?
Why do Thatcham conveyancing fees differ for leasehold and freehold properties?
When buying a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control