Having sold my house in Garston last March yet the purchaser is SMS messaging every few hours complaining that their lawyer is waiting to hear from mylawyer. What are the post completion sale legalities now that I have sold?
After completion of your house sale your lawyer should send the transfer deeds and all additional paperwork to the purchaser's solicitors. If applicable, your conveyancer should also confirm that the legal charge in favour of the lender has been repaid to the buyers solicitors. There are no post completion tasks unique to conveyancing in Garston.
Do the Building Society Association intend to launch a search tool with a view to list practices on the Norwich and Peterborough Building Society conveyancing panel for instance in Garston?
Lexsure has not been advised of any intention on the part of the BSA to develop such a tool.
How does conveyancing in Garston differ for new build properties?
Most buyers of new build residence in Garston contact 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 new home sellers in Garston usually acquire 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 accustomed to new build conveyancing in Garston or who has acted in the same development.
I opted to have a survey carried out on a property in Garston in advance of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some banks tend not grant a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Garston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Garston to see if the conveyancing costs will increase in light of this.
Last July I purchased a leasehold property in Garston. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Garston - Sample of Questions you should consider before Purchasing
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The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this arrangement the lessees enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. It is important to be aware if a new roof is being installed or some other significant cost is pending that will be shared between the tenants and could well materially increase the the service fees or result in a one off invoice. You should want to discover as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters like the tidiness of the common parts. Enquire of other tenants if they are happy with them. On a final note, be sure you discover the dates that the service fees are due to the relevant party and specifically how they are spending that money.
We have had DIP from Barclays who suggested we could borrow up to £300k. When do I need to appoint a practitioner for conveyancing? Garston is where we plan to move to.
It would be wise to appoint a conveyancer now and ask them to generate a file for you. This will trigger: 1) the estate agent to send out the Sales Memo to the relevant parties 2) the seller’s property lawyer to send out the draft paperwork. That being said, do not instruct your solicitor to start searches until you receive your valuation report via Barclays and you are willing to proceed.