When can the exchange of contracts happen for domestic conveyancing in Croydon and do I need to be at the lawyers office?
If you are local to our conveyancing solicitors in Croydon you are invited in to sign contracts. However, the firms we work with provide countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when dealing with you by post or email. The signing of the sale agreement is not the critical part. Signing on the dotted line is necessary for the solicitor to officially exchange at the suitable time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Croydon)to be in the office available at the end of the phone to exchange contracts.
Just bought a semi-detached house in Croydon , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Croydon conveyancing solicitor works at snail pace, so I want to check the post completion formalities are concluded.
There is nothing unique about conveyancing in Croydon registration formalities. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether there are errors and if the Land registry must send notices to any 3rd parties. As of today in the region of three quarters of such applications are completed within two weeks but occasionally there can be extensive hold-ups. Registration is effected after the purchaser has moved in to the property thus registration formalities is not typically top priority but where there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
About to purchase a new build apartment in Croydon. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Croydon
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Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
How simple is it to use your search tool to locate a conveyancing solicitor in Croydon on the approved list for my bank?
First choose a lender such as Nationwide Building Society, Virgin Money or Bank of Ireland then type in your preferred area for example Croydon. Conveyancing organisations in Croydon and further afield should be identified.
My husband and I are one month into a residential purchase having been directed to conveyancers by the selling agent to perform conveyancing in Croydon. We are not happy. Can you you assist me in finding new solicitors?
They would need to be really poor in order to consider changing them. Has your loan offer been generated? If so you will need to inform them of the new contact details and get the mortgage documents are issued to the new lawyers. Your new solicitor ideally should be on the lenders panel to avoid supplemental expenses and complications. That should be your first question of the new lawyers. Our search tool should assist you in finding a lender approved conveyancer for your home move in Croydon
I am tempted by the attractive purchase price for a two maisonettes in Croydon both have approximately fifty years unexpired on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Croydon is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of buyers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Croydon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Croydon conveyancing firm to represent me?
You certainly can. We are happy to put you in touch with a Croydon conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Croydon property is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case affected 4 flats. The unexpired term was 98 years.