Finally the sale completed on my house in Freshford last January yet the purchaser is calling me to say her lawyer needs to hear from myconveyancer. What are the post completion sale formalities following completion?
Post completion of your house sale your solicitor is obliged to deliver the transfer deeds and all of the paperwork to the purchaser's lawyers. If applicable, your solicitor must also send confirmation that the home loan has been discharged to the purchasers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Freshford.
Can you clarify what the consequences are if my lawyer’s firm is removed from the HSBC Conveyancing panel ahead of completing my conveyancing in Freshford?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have been told that property searches are the primary cause of stalling in Freshford conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Freshford.
How does conveyancing in Freshford differ for new build properties?
Most buyers of new build premises in Freshford approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Freshford tend to buy the real estate, 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 Freshford or who has acted in the same development.
I am thinking of appointing a conveyancing practitioner in Freshford for my remortgage. Is it possible to review a solicitor's record with the profession’s regulator?
Anyone can find published Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Visit Check a solicitor's record. For details Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The regulator sometimes recorded call for training reasons.
I am employed by a busy estate agency in Freshford where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Freshford conveyancing solicitors. Could you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Freshford Leasehold Conveyancing - Examples of Queries before Purchasing
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It is important to be aware if a new roof is being put on or some other major work is anticipated that will be shared between the leasehold owners and may well materially impact the level of the service fees or result in a one time invoice. It would be a good idea to enquire if the the lease includes any unreasonable restrictions in the lease. By way of example some leases prohibit pets being allowed in in a block in Freshford. If you love the apartmentin Freshford however your dog is not allowed to make the move with you then you will be faced difficult decision. Does the lease have onerous restrictions?