We instructed a high street solicitor for my conveyancing in Grahame Park yesterday. After carefully reading the fine print I noteI am responsible for fees even if the movefalls through. Would I be best advised to select an on-line solicitor practice who offer no-sale-no-fee conveyancing in Grahame Park?
It is usually a trade off in that if "No Completion No Fee" is available then the fee levels will tend to be be uplifted to cover the cases that fail to complete. Dont forget that such offerings generally do not cover expenditure such your Grahame Park conveyancing search fees.
Are the BSA intent on creating a online directory to to identify practices on the Loughborough BS conveyancing panel for example in Grahame Park?
We would not expect to be advised of any intention on the part of the BSA to promote such a register.
It has been four months since my purchase conveyancing in Grahame Park took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Grahame Park differ for new build properties?
Most buyers of new build property in Grahame Park approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Grahame Park tend to purchase 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 Grahame Park or who has acted in the same development.
I work for a reputable estate agency in Grahame Park where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Grahame Park conveyancing firms. Please can you clarify whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having 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 sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Grahame Park conveyancing firm to assist?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Freehold Enfranchisement case for a Grahame Park residence is 1 & 1A Sunningfields Crescent in September 2013. The Tribunals calculation of the amount to be paid into court in respect of the value of the freehold interest is £11,997 in respect of Flat 1 and £15,781 in respect of Flat 1A for a total of £27,778. This case was in relation to 2 flats. The unexpired residue of the current lease was 71.5 years.
Our conveyancer in Grahame Park has uncovered a defect with the lease for the flat we are purchasing in Grahame Park. The other side have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor says that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Grahame Park conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions must be adhered to by the lender conveyancing panel who has to balance acting for you and the lender