We are purchasing our first home. Our solicitor has e-mailedto check if we want to purchase additional conveyancing searches. We are really unsure what's relevant for conveyancing in Eltham
The scope of Eltham conveyancing searches depends entirely on the premises, the location, the probability of any of these risks, your knowledge of the locality and risks, your overall appetite to risk. What is important is that you properly understand what information the searches could supply. You may then make a decision if you consider that you need that search. If in doubt, ask your conveyancer to advise.
Just had an offer accepted on a new build apartment in Eltham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Eltham
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I decided to have a survey done on a property in Eltham in advance of retaining lawyers. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies may not grant a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Eltham. Conveyancing will be smoother if you use a solicitor in Eltham especially if they regularly deal with such properties in Eltham.
My husband and I are FTB’s - had an offer accepted, yet the agent has warned us that the owners will only issue a contract if we appoint the agent's recommended lawyers as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Eltham
We suspect that the seller is not behind this ultimatum. If they want ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Speak to the owners direct and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you wish to move quickly (e)however you will continue to use your preferred Eltham conveyancing solicitors - not the ones that will earn the estate agent a introducer fee or hit his conveyancing thresholds demanded by HQ.
What are your top tips when it comes to choosing a Eltham conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Eltham conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Eltham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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Can they put you in touch with clients in Eltham who can give a testimonial? What are the charges for lease extension work?
I have had difficulty in negotiating a lease extension in Eltham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Eltham residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.
How much should conveyancing in Eltham cost?
The total sum charged for Eltham conveyancing charges may vary dramatically from firm to firm. In the circumstances it is particularly critical for you to find this out when you first instruct a lawyer. You should also consider asking a few like for like quotes.