The Chorleywood conveyancing firm handling our Chorleywood conveyancing has uncovered an inconsistency when comparing the surveyor’s assumptions in the home valuation survey and what is in the title deeds. My lawyer has advised that he is obliged to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Is there a reason why leasehold purchase conveyancing in Chorleywood costs more?
Chorleywood leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Chorleywood?
There are many recorded licenced Conveyancers in Chorleywood and Solicitor partnerships in Chorleywood who provide Conveyancing services We would stress that the two are regulated professionals specialising in the legal aspects of the home buying process. Both can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
My bid for a property was accepted at auction in Chorleywood. Conveyancing is needed. What are my next steps?
Given that you are now legally committed yourself to purchase you must hire the services of a conveyancing solicitor soon as you are faced with a fast approaching a drop dead date to complete the property. Every auction property will have an associated legal set of papers. This should include evidence of title and search results. In the case of leasehold property the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You need to hand this to the lawyer instructed by you ASAP. Do make sure that that you have the requisite funding in place to complete on the date specified in the contract.
Intending to buy a maisonette in Chorleywood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Chorleywood property lawyer is on the Kent Reliance conveyancing panel.
My wife and I are close to exchanging contracts on the sale of our house in Chorleywood and according to the buyers it appears that there is a risk of it being built on contaminated land. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers used a factory type conveyancing firm rather than a conveyancing solicitor in Chorleywood. Having lived in Chorleywood for 4 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Is it simple use the search tool to locate a conveyancing practitioner in Chorleywood on the approved list for my bank?
First choose a mortgage company such as Lloyds TSB Bank, Norwich and Peterborough Building Society or Alliance & Leicester then choose your location e.g. Chorleywood. Conveyancing firms in Chorleywood and beyond should be shown.
I am employed by a long established estate agency in Chorleywood where we have experienced a number of flat sales put at risk due to short leases. I have received conflicting advice from local Chorleywood conveyancing firms. Can 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 owned the lease 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 buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
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 buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Chorleywood conveyancing firm to assist?
Most certainly. We are happy to put you in touch with a Chorleywood conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Chorleywood premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The unexpired term as at the valuation date was 71 years.