When can the exchange of contracts take place for purchase conveyancing in East Dulwich and am I required to attend the conveyancers branch?
Where you are local to our conveyancing solicitors in East Dulwich you are welcome to attend to sign the paperwork. However, the lender approved solicitors we work with offer countrywide coverage for conveyancing and give as equally detailed and professional a job for you when communicating with you by post or email. The signing of the purchase agreement is not when everything is set in stone. A signed contract is necessary for the conveyancer to exchange contracts when the time is right, 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 a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in East Dulwich)to be in the office available at the end of the phone to exchange contracts.
I have been told that property searches are the number one cause of stalling in East Dulwich house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in East Dulwich.
four months have gone by following my purchase conveyancing in East Dulwich completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in East Dulwich differ for new build properties?
Most buyers of new build residence in East Dulwich approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in East Dulwich typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in East Dulwich or who has acted in the same development.
My husband and I are new to the buying process - had an offer accepted, but the agent informed us that the owners will only move forward if we appoint the agent's recommended conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer used to conveyancing in East Dulwich
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', alienating a genuine buyer is likely to cause more damage than good. Contact the sellers directly and explain that (a)you are genuine purchasers (b)you are ready to go, with finances in place © you have nothing to sell (d) you wish to move quickly (e)however you will continue to appoint your preferred East Dulwich conveyancing solicitors - rather thanthe ones that will earn their estate agent a kickback or meet his conveyancing figures pre-set by senior management.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a East Dulwich conveyancing firm to assist?
Most certainly. We can put you in touch with a East Dulwich conveyancing firm who can help.
An example of a Lease Extension case for a East Dulwich residence is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case was in relation to 1 flat. The remaining number of years on the lease was 61.81 years.
When it comes to leasehold conveyancing in East Dulwich what are the most frequent lease defects?
Leasehold conveyancing in East Dulwich is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:
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A duty to insure the building A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Chelsea Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.