Completed the sale of my flat in Eccleshall last April yet the purchaser is e-mailing every few hours to moan that their lawyer is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
After completion of your disposal your solicitor is duty bound to forward the transfer documentation and all supplemental paperwork to the buyer’s conveyancer. Where relevant, your solicitor must also send confirmation that the mortgage has been paid off to the purchasers solicitors. There is unlikely to be post completion tasks peculiar conveyancing in Eccleshall.
Me and my brother have a 4 bedroom Edwardian house in Eccleshall. Conveyancing lawyer acted for me and Santander. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Eccleshall 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 lenders. You can also question the position with your conveyancing practitioner who conducted the purchase.
Due to the advice of my in-laws I had a survey completed on a property in Eccleshall in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies may refuse to give a loan on such a house.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Eccleshall. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way does the Landlord & Tenant Act 1954 impact my business offices in Eccleshall and how can you help?
The 1954 Act provides protection to business tenants, giving them the legal entitlement to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Eccleshall
Can you provide any top tips for leasehold conveyancing in Eccleshall with the purpose of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Eccleshall can be reduced where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers’ conveyancers. The majority of landlords or Management Companies in Eccleshall levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Eccleshall. If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing. You may think that you are aware of the number of years left on your lease but you should double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
Leasehold Conveyancing in Eccleshall - A selection of Questions you should ask before buying
-
How many of the leaseholders are in arrears for their service charge payments? It is important to be aware if fixing the lift or some other significant cost is pending that will be shared by the leasehold owners and will dramatically increase the the maintenance fees or result in a specific invoice. How many years are left on the lease?
At what point do I incur the Stamp Duty Land Tax chargeable for my purchase in Eccleshall?
The majority of conveyancing practitioners will complete a Land Transaction Return Form for you as part of your Eccleshall purchase transaction for you to sign. After completion your solicitor will submit your Land Transaction application to the Inland Revenue and - assuming they have the money - settle any tax bill due on your behalf.