Having sold my house in Chesham last November yet the purchaser is e-mailing daily complaining that his lawyer needs to hear from mine. What are the post completion sale legalities following completion?
After completion of your house sale your lawyer is obliged to forward the transfer deeds and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your conveyancer should also send confirmation that the legal charge in favour of the lender has been paid off to the buyers conveyancers. There is unlikely to be post completion formalities peculiar conveyancing in Chesham.
We had selected solicitors located in Chesham on the Leeds Building Society solicitor approved list. They are now charging me an additional charge for handling the Leeds Building Society mortgage. Is this a supplemental conveyancing fee set by Leeds Building Society?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner may charge a fee for this. The fee is not set by Leeds Building Society but by your Chesham solicitor. Some firms on the Leeds Building Society panel will charge ’dealing with mortgage’ fee and others do not.
We expect to receive a DIP from Bank of Ireland this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Chesham solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Chesham solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
I am due to exchange contracts on my house. I had a double glazing fitted in July 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being difficult. The Chesham solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Will my solicitor be asking questions concerning flooding during the conveyancing in Chesham.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Chesham. There are those who acquire a property in Chesham, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, but there are a numerous checks that may be undertaken by the buyer or by their lawyers which will figure out the risks in Chesham. The standard property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to find out whether the premises has historically flooded. In the event that flooding has previously occurred and is not revealed by the vendor, then a buyer could bring a compensation claim as a result of such an incorrect answer. The purchaser’s solicitors will also order an enviro report. This will reveal if there is any known flood risk. If so, more detailed investigations should be conducted.
I have todaydiscovered that Action Conveyancing have closed. They conducted my conveyancing in Chesham for a purchase of a leasehold apartment 12 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The quickest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chesham conveyancing specialists.
Do you have any top tips for leasehold conveyancing in Chesham from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Chesham can be reduced if you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers’ conveyancers. Many landlords or Management Companies in Chesham charge for providing management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Chesham. If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Chesham state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such alterations. If you dont have the paperwork to hand do not communicate with the landlord without contacting your conveyancer in the first instance. A minority of Chesham leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Arranging a new share certificate can be a time consuming formality and slows down many a Chesham home move. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.
I bought a leasehold flat in Chesham, conveyancing having been completed 5 years ago. How much will my lease extension cost? Equivalent properties in Chesham with over 90 years remaining are worth £216,000. The ground rent is £50 invoiced annually. The lease finishes on 21st October 2093
With 68 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
Me and my husband are first time buyers just having agreed a price on a property in Chesham, and are now looking to get solicitors lined up. We have utilised the different comparison tools and the results are from all over the England and Wales. Is it advisable to have a Chesham lawyer local to your prospective property? I am happy to do all the communicating over email, but I assume at some point we will need to visit the lawyer's office to sign papers?
The conveyancing practitioner does not have to be in Chesham, but choosing local means that you have the option to visit their offices if required, for instance, if a signature is immediately necessary. Furthermore, a Chesham solicitor have established relationships with local agents and (if the vendor has chosen a local property lawyer) with them, which will help keep things moving faster.