I am need of leasehold conveyancing for a flat in a fairly new development (seven years old) in Belgravia. Almost all the appartments are already occupied. Is it really necessary to order local searches as part of conveyancing in Belgravia?
You are putting yourself at risk in failing carrying out Belgravia conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would strongly advise in no uncertain terms that you have them. If accelerating the process and driving down costs are top of your concerns you should discuss with your solicitor about the possibility of search insurance
Should commercial conveyancing searches disclose proposed roadworks that may impact a commercial premises in Belgravia?
Its becoming the norm that commercial conveyancing solicitors in Belgravia will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Belgravia. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Belgravia.
For each commercial conveyancing transaction in Belgravia it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Belgravia commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Belgravia.
Are there restrictive covenants that are commonly identified during conveyancing in Belgravia?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Belgravia. 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…’
How does conveyancing in Belgravia differ for newly converted properties?
Most buyers of new build or newly converted property in Belgravia approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Belgravia typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Belgravia or who has acted in the same development.
I have been recommended by a number of estate agents in Belgravia to find a solicitor on your site. Is there a financial inducement for Estate Agents to recommend your site rather than a competitor’s?
We don’t offer any referral fee for directing people in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Estate agents have just been given the go-ahead to market my basement flat in Belgravia.Conveyancing has not commenced but I have recently had a half-yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as usual because all rents and service invoices will be allottedon completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially