I have been told that property searches are the main reason for obstruction in Bromley Common house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Bromley Common.
2 months have gone by since my purchase conveyancing in Bromley Common concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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.
How does conveyancing in Bromley Common differ for new build properties?
Most buyers of new build property in Bromley Common come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Bromley Common typically acquire the site, 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 property lawyers 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 accustomed to new build conveyancing in Bromley Common or who has acted in the same development.
I am a sole trader planning to take an assignment of a lease of an office on the high street. Can you recommend solicitors offering no-move-no charges for non-domestic conveyancing in Bromley Common for below £1,200?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Bromley Common, including the sale and purchase of businesses as well as simply property. If you are intending to purchase or sell a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right solicitor. As for the charges this will depend on the structure and heads of terms of the proposed transaction. Let us have your details or telephone so as to enable us to supply you with a detailed commercial conveyancing quote.
I am employed by a long established estate agent office in Bromley Common where we have witnessed a number of flat sales put at risk as a result of short leases. I have received contradictory information from local Bromley Common conveyancing firms. Could you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have had difficulty in seeking a lease extension in Bromley Common. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Bromley Common conveyancing firm who can help.
An example of a Lease Extension case for a Bromley Common premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The unexpired term was 50.57 years.
Estate agents have just been given the go-ahead to market my ground floor apartment in Bromley Common.Conveyancing solicitors are to be appointed soon however I have just received a quarterly maintenance charge invoice – what should I do?
The sensible thing to do is discharge the service charge as normal as all rents and service charges will be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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