Why do I have to pay up front when it comes to conveyancing in Chalk Farm?
If you are buying a property in Chalk Farm your lawyer will ask you to provide them with monies to cover the the cost of the conveyancing searches. Ordinarily this is called for to cover the fees of the conveyancing searches. If any deposit is as part of the sale price then this should be required immediately ahead of contracts are exchanged. The closing balance that is needed will be payable shortly before completion.
Should commercial conveyancing searches reveal impending roadworks that could impact a commercial property in Chalk Farm?
Its becoming the norm that commercial conveyancing solicitors in Chalk Farm will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Chalk Farm. The report provides definitive data 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 Chalk Farm.
For every commercial conveyancing transaction in Chalk Farm it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Chalk Farm commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Chalk Farm.
I own a renovated Victorian property in Chalk Farm. Conveyancing practitioner represented me and Britannia. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chalk Farm and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing solicitor who conducted the work.
I am looking for a leasehold apartment up to £195,000 and found one close by in Chalk Farm I like with open areas and railway links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Chalk Farm for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the shortness of the lease will be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
As co-executor for the estate of my grandmother I am disposing of a residence in Monmouth but I am based in Chalk Farm. My solicitor (who is 260 miles from meneeds me to execute a stat dec ahead of completion. Can you recommend a conveyancing solicitor in Chalk Farm who can witness and place their company stamp on the document?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are based in Chalk Farm
I am looking at a couple of apartments in Chalk Farm both have in the region of 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Chalk Farm. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease deteriorates and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Chalk Farm. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Chalk Farm conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Chalk Farm residence is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case related to 1 flat. The unexpired residue of the current lease was 64.77 years.