Recently been in touch with my conveyancing lawyer in East Dulwich who completed the legal work 18 months ago requesting a conveyancing estimate based on an identical type of house sale & purchase (a leasehold property and a freehold property) of similar values with a home loan from Lloyds TSB Bank. I am now being charged twice the amount. Stick with what I know or should I try and find an alternative firm of conveyancing solicitor?
The quote is slightly on the expensive side. If you shop around you might trim some of the expense by say a hundred pounds. On the other hand, assuming were happy with the assistance the firm provided you couldlive to regret choosing an an untested solicitor. Don't forget to check the conveyancer can act for Lloyds TSB Bank. You can utilise our search tool to select a East Dulwich conveyancing firm on the Lloyds TSB Bank conveyancing panel, which can often include conveyancing solicitors in East Dulwich.
We have very brash sellers who has recommended a preliminary contract with a down payment 6,000. Are such agreements sensible?
There are two main concerns with entering into any lock out agreement (also referred to as a no-shop agreement) is that it diverts attention away from moving forward with the conveyancing work, so in the absence of it needing minimal or no negotiation then it could turn out to be a cause of frustration and delay. It is not particularly popular amongst East Dulwich conveyancing solicitors for this reason. A supplemental negative is the extent of the remedies available - an aggrieved buyer is not likely to win an injunctive ruling by a court to bar the owner disposing of the property to another buyer, so the only remedy open via the contract will be the reimbursement of abortive costs and, in restricted scenarios, the extra payment of penalties.
Finally the sale completed on my house in East Dulwich last August but our buyer keeps e-mailing every few hours to say his lawyer needs to hear from mysolicitor. What are the post completion sale legalities now that I have sold?
Post completion of your sale your lawyer should deliver the transfer documentation and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer should also evidence that the legal charge in favour of the lender has been redeemed to the purchasers conveyancers. There is unlikely to be post completion formalities unique to conveyancing in East Dulwich.
Should our conveyancer be making enquiries about flooding as part of the conveyancing in East Dulwich.
Flooding is a growing risk for conveyancers specialising in conveyancing in East Dulwich. Plenty of people will purchase a property in East Dulwich, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in East Dulwich. The standard completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to determine whether the property has suffered from flooding. If flooding has previously occurred and is not notified by the seller, then a purchaser may commence a compensation claim stemming from an incorrect answer. A purchaser’s lawyers will also commission an environmental search. This should reveal whether there is a recorded flood risk. If so, additional inquiries should be initiated.
The estate agent has sent us the confirmation of our purchase of a new build apartment in East Dulwich. Conveyancing is necessary evil 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 few leasehold new build questions that you should expect your new-build leasehold conveyancing in East Dulwich
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. 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.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in East Dulwich. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in East Dulwich are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in East Dulwich so you should seriously consider looking for a East Dulwich conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a East Dulwich conveyancing firm to help?
You certainly can. We are happy to put you in touch with a East Dulwich conveyancing firm who can help.
An example of a Lease Extension decision for a East Dulwich premises 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 unexpired lease term was 61.81 years.