Do lawyers request money up-front for my conveyancing in Bursledon?
Where you are retaining lawyers for conveyancing in Bursledon your lawyer will request that you place them with funds to cover the search fees. Normally this is called for to cover the fees of the Local Authority Search. When the down payment is as part of the purchase price then this will be asked for immediately in advance of contracts are exchanged. Any further balance that is due should be transferred shortly before completion.
How does conveyancing in Bursledon differ for newly converted properties?
Most buyers of new build or newly converted property in Bursledon contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because developers in Bursledon usually purchase 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 used to new build conveyancing in Bursledon or who has acted in the same development.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Bursledon I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Bursledon suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I need to instruct a conveyancing solicitor in Bursledon for my house move. Is it possible to check a firm’s record with the legal regulator?
Members of the public can see published Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.
I have just appointed agents to market my 2 bed flat in Bursledon. Conveyancing lawyers have not yet been instructed, but I have just had a half-yearly service charge invoice – Do I pay up?
It best that you pay the invoice as usual given that all rents and service invoices should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice 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. This will smooth the conveyancing process.
Bursledon Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
-
How much is the ground rent and service charge? It would be wise to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the cleanliness of the common parts. You should not be shy to ask other tenants what they think of their management. Finally, investigate as to the dates that the maintenance charges are due to the managing agents and precisely how they are spending the funds.
Being a tenant I am liable for a service charge for my appartment in Bursledon. As a result of flawed financial planning I fell behind with remittance. The managing agents agreed a clearance plan but there remains a couple of currently due.
I now wish to sell and I am worried this will threaten to derail the sale if I have to discharge the arrears now. I'd like to sell up and then discharge the debt from the completion monies - is this possible?
The lawyer dealing with your Bursledon sale should be in a position to negotiate with the appropriate parties, and agree with them whether or not they would accept settlement out of the sale proceeds. Here is an example of why it is advisable to choose a conveyancer in Bursledon as they may well enjoy an open line of communication with the parties.