Having sold my house in East Croydon last April but the buyer keeps SMS messaging every few hours to say their conveyancer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
Following your disposal your conveyancer should deliver the transfer documentation and all supplemental paperwork to the buyer’s lawyers. Where appropriate, your solicitor must also confirm that the mortgage has been repaid to the purchasers lawyers. There are no post completion procedures specific conveyancing in East Croydon.
My relative suggested that if I am purchasing in East Croydon I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard East Croydon conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about East Croydon around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the East Croydon Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, East Croydon Education with maps and statistics, Local Amenities and other useful information regarding East Croydon.
Me and my brother have a 4 bedroom Victorian house in East Croydon. Conveyancing lawyer represented me and Bank of Ireland. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in East Croydon and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
I'm buying a new build house in East Croydon with the aid of help to buy. The developers would not budge the amount so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my conveyancer about this deal as it could affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My husband and I are novice buyers - had an offer accepted, yet the agent informed us that the owners will only issue a contract if we instruct the agent's chosen solicitors as they need a ‘quick sale’. My instinct tells me that we should use a local solicitor with experience of conveyancing in East Croydon
We suspect that the owner is not behind this ultimatum. Should the vendor require ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you are going to use your own,trusted East Croydon conveyancing solicitors - as opposed tothe ones that will provide the estate agent a kickback or hit his conveyancing thresholds pre-set by HQ.
Do you have any advice for leasehold conveyancing in East Croydon with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in East Croydon can be reduced where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers’ conveyancers. Some East Croydon leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in East Croydon state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Where you dont have the approvals in place do not contact the landlord without checking with your solicitor before hand. The majority of landlords or Management Companies in East Croydon charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in East Croydon.
I am the leaseholder of a two-bedroom flat in East Croydon. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the premium.
An example of a Freehold Enfranchisement case for a East Croydon premises 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 was in relation to 4 flats. The unexpired term as at the valuation date was 98 years.