Finally the sale completed on my house in Aylesford last February but my buyer keeps texting daily to moan that their lawyer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your sale your lawyer is committed to deliver the transfer deeds and all supplemental paperwork to the buyer’s conveyancer. Where appropriate, your lawyer must also send confirmation that the legal charge in favour of the lender has been paid off to the buyers solicitors. There is unlikely to be post completion formalities just for conveyancing in Aylesford.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Aylesford so that I can attend their offices if necessary.
Nowadays conveyancing panel lawyers for mortgage companies undertake their work through the post, internet or over the phone. This enables them to carry out the legal work for your home move no matter where you live in England or Wales. Nevertheless you should check if you have the option of visiting the offices of your conveyancing lawyer if just in case this is required.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Aylesford. Conveyancing is a frightening process 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 is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Aylesford
-
Please confirm the Lease plans are surveyor prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Please provide 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.
I have been on the look out for a flat up to £245,000 and found one close by in Aylesford I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Aylesford in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
We're novice buyers - agreed a price, yet the property agent advised that the seller will only go ahead if we use their recommended conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer with experience of conveyancing in Aylesford
It is improbable the vendors are behind this. If they desire ‘a quick sale', turning down a motivated purchaser is counter productive. Speak to the vendors direct and make sure they understand (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you are going to instruct your preferred Aylesford conveyancing firm - as opposed tothe ones that will provide the estate agent a referral fee or hit his conveyancing figures demanded by senior management.
Last July I purchased a leasehold flat in Aylesford. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a split level flat in Aylesford, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Aylesford with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease terminates on 21st October 2103
You have 78 years unexpired we estimate the price of your lease extension to range between £7,600 and £8,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.