My bid for a property was accepted at auction in Bourne End. Conveyancing is necessary. What happens now?
Having legally committed yourself to purchase you should retain a conveyancing lawyer quickly as you are facing a tight a drop dead date to complete the conveyancing. Every auction property should have a bespoke legal pack. This should include most,if not all of the documents that your solicitor will need. In the case of leasehold premises the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You must give this to the solicitor instructed by you at the earliest opportunity. Do make sure that your finances are in order to complete on the on the contractual date .
This question may be naive but I am unseasoned as FTB of a garden flat in Bourne End. Do I collect the keys to the property on completion from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Bourne End?
On the day of completion you will not be required to attend the conveyancers office in Bourne End. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you will be called to receive the keys from the property Agents and start moving into the property. Usually this happens between 1 and 3pm.
After what seems like an age I have had an offer on an apartment in Bourne End agreed to, the sellers do nevertheless have an associated purchase. The vendors have placed an offer on somewhere, but it’s not yet agreed to, and have viewings of other flats booked. I have chosen a bricks and mortar conveyancing solicitor in Bourne End. What should be my next step? At what stage should I apply for the mortgage with Aldermore?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of £1k, then valuation, Bourne End conveyancing search charges, etc). The first course of action is to check that your conveyancer is on the Aldermore approved list. Regarding the subsequent steps this very much depends on the circumstances of your case, motivation for this property and on the state of the market. During a rising market some home buyers would apply for the mortgage with Aldermore and arrange for the valuation and only if it was satisfactory would they ask their lawyer to proceed with searches.
It has been 4 months since my purchase conveyancing in Bourne End took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Bourne End. 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 are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Bourne End
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Please confirm the Lease plans are surveyor prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
How does the Landlord & Tenant Act 1954 impact my business premises in Bourne End and how can you help?
The particular law that you refer to provides security of tenure to business lessees, giving them the a statutory right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Bourne End is one of the many areas of the UK in which our lawyers are located
I am tempted by the attractive purchase price for a couple of apartments in Bourne End both have approximately forty five years left on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Bourne End is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 premises 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 Bourne End 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.
Leasehold Conveyancing in Bourne End - Sample of Queries Prior to buying
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It is important to be aware if changing the roof or some other major work is coming up that will be shared by the leaseholders and may well dramatically impact the level of the maintenance fees or result in a specific payment. How much is the ground rent and service charge? Are any of leasehold owners in arrears of their service charge payments?
Living abroad I am unable to attend my Bourne End conveyancing lawyers office to sign documents connected to my conveyancing in Bourne End – will this be an issue?
No. Bourne End conveyancing lawyers can handle home moves for clients nationally. It is not necessary for you to be able to visit a Bourne End conveyancers office. Almost all property lawyer can deal with everything via phone, post and email - whatever works for you.