Having sold my house in Wokingham last November yet the purchaser is whats apping me to moan that his solicitor is waiting to hear from mylawyer. What should have happened following completion?
Post completion of your house sale your lawyer should forward the transfer documentation and all additional paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer should also send confirmation that the legal charge in favour of the lender has been discharged to the buyers conveyancers. There is unlikely to be post completion steps peculiar conveyancing in Wokingham.
What happens if my lawyer’s firm is suspended from the UBS Conveyancing panel ahead of completing my conveyancing in Wokingham?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I used Action Conveyancing a few years past for my conveyancing in Wokingham. Now, I need the documents but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Wokingham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
In my capacity as executor for the estate of my uncle I am selling a residence in Neath but reside in Wokingham. My conveyancer (approximately 250 kilometers awayneeds me to execute a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Wokingham to witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are Wokingham based
I am attracted to a couple of flats in Wokingham both have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Wokingham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. 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 Wokingham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.
Wokingham Leasehold Conveyancing - A selection of Queries before Purchasing
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Who takes charge for maintaining and repairing the building? In the main the cost for major works are not included within maintenance charges, albeit that some managing agents in Wokingham obliged tenants to pay into a sinking fund and this is used to offset against major repairs or maintenance.
There are numerous properties in Wokingham on private roads. We are buying one such house. What are the pros and cons of buying a property on a privately owned road?
Wokingham conveyancing lawyers are well versed in conveyancing homeson private. Your conveyancing practitioner will review the Land Registry data to identify any rights or responsibilities. It is possible that there is a management company (wholly owned by residents) that owners pay into to maintain the road. Where one exists, the road should be maintained and look better than council owned.