I chose a Chinatown based lawyer for our conveyancing in Chinatown recently. Upon checking the Terms and Conditions it is apparent thatwe are liable for charges even where the conveyance does not complete. Would I be best advised to appoint an on-line conveyancing brokerage promising no move no charge conveyancing in Chinatown?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the conveyancing charges will tend to be be uplifted to neutralise the cases that do not proceed. Also remember that such promotions generally do not protect you from expenditure for example Chinatown conveyancing search fees.
We're in Chinatown, First timers buying with a mortgage (lender is Nationwide , and our lawyer is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Should my solicitor be asking questions regarding flooding as part of the conveyancing in Chinatown.
The risk of flooding is if increasing concern for solicitors dealing with homes in Chinatown. There are those who acquire a house in Chinatown, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Chinatown. The conventional set of information sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to discover whether the property has ever been flooded. If flooding has previously occurred which is not revealed by the owner, then a purchaser could commence a legal claim for losses resulting from an misleading reply. A purchaser’s conveyancers will also conduct an enviro report. This should indicate if there is any known flood risk. If so, more detailed investigations should be made.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Chinatown is where the house is located. What do you suggest?
Flying freeholds in Chinatown are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chinatown you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chinatown may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We're new to the buying process - had an offer accepted, yet the selling agent has warned us that the owners will only proceed if we use their recommended lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Chinatown
We suspect that the seller is unaware of this ultimatum. Should the vendor desire ‘a quick sale', alienating a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you are going to instruct your preferred Chinatown conveyancing solicitors - not the ones that will give the estate agent a referral fee or meet his conveyancing thresholds set by corporate headquarters.
Last October I purchased a leasehold flat in Chinatown. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a a ground floor purpose built flat in Chinatown. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Chinatown conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Chinatown premises is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case related to 2 flats. The unexpired lease term was 73.92 years.