The lawyer who dealt with my last purchase has given a fee estimate just over a thousand pound for freehold conveyancing in Wandsworth. I’m looking to sell a Edwardian house for £125,000. Are these estimated fees excessive? Is it above what I should be paying for conveyancing in Wandsworth?
The charges are a bit high. Where you are prepared to spend time contrasting prices you may be able to decrease the fees slightly by as much as £125. That being said, you maycome to regret opting for an a cheaper conveyancer. Remember to check that the conveyancer can act for your lender. You can use our comparison tool to select a Wandsworth conveyancing practice on the lender’s approved list of lawyers which can often include conveyancing solicitors in Wandsworth.
Having sold my house in Wandsworth last June but my buyer keeps calling daily to moan that his conveyancer is waiting to hear from mine. What should my lawyer have done now that I have sold?
After completion of your house sale your solicitor should deliver the transfer deeds and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer should also confirm that the legal charge in favour of the lender has been discharged to the buyers lawyers. There are no post completion formalities peculiar conveyancing in Wandsworth.
I have a decision in principle. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would prefer to appoint a local conveyancing solicitor in Wandsworth?
Do check but the chances are that appoint one of their panel solicitors should you accept the "fee-free" deal. Contact the mortgage company and determine if they make available a monetary alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Wandsworth.
I have been told that property searches are the number one reason for stalling in Wandsworth house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Wandsworth.
I am buying a new build apartment in Wandsworth. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Wandsworth
There must be mutual enforceability of lessee’s covenants. 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. 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. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Do you have any advice for leasehold conveyancing in Wandsworth from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Wandsworth can be reduced if you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers. If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Wandsworth leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you dont have the consents in place do not communicate with the landlord without contacting your lawyer in advance. The majority of freeholders or Management Companies in Wandsworth levy fees for providing management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Wandsworth. A minority of Wandsworth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Wandsworth. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Freehold Enfranchisement case for a Wandsworth property is 4 Galveston Road in August 2012. The Tribunal determined that the price payable in respect of the purchase of the freehold was £22,650. The Tribunal remited this matter back to the Wandsworth County Court for execution of the freehold Transfer Deed. This case related to 2 flats.