Finally the sale completed on my house in Knowle last June yet the purchaser is SMS messaging me complaining that their lawyer needs to hear from mine. What should my lawyer have done now that I have sold?
After completion of your house sale your conveyancer should forward the transfer documentation and all of the paperwork to the buyer’s lawyers. Where relevant, your solicitor should also send confirmation that the mortgage has been discharged to the buyers solicitors. There are no post completion tasks peculiar conveyancing in Knowle.
I am selling my flat in Knowle. Does the lawyer have to be required to be on the Principality conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Knowle. 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.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Knowle
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There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Do I need to be concerned by brokers that I am dealing with are encouraging me to use a web based conveyancing firm rather than a High Street Knowle conveyancing practice?
As with lots of professional services, often input from relatives can be most helpful. Nevertheless there are numerous parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders might all suggest lawyers to select. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the recommendation. You are at liberty to appoint your preferred lawyer. However, bear in mind that the majority of mortgage providers specify a panel list of solicitors you are obliged to use for the mortgage related work in your conveyancing.
My father has recommend that I use his lawyers for conveyancing in Knowle. Should I use them?
There are no two ways about it the best way to select a conveyancing practitioner is to have recommendations from friends or relatives who have actually previously instructed the solicitor that you are considering.
I work for a busy estate agent office in Knowle where we have experienced a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Knowle conveyancing firms. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. 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 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 purchaser.
Knowle Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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How long is the Lease? Best to be warned whether changing the roof or some other major work is coming up to be shared amongst the leasehold owners and may well materially increase the the maintenance charges or require a one time invoice. You should want to find out as much as possible concerning the managing agents as they can either make your life much simpler or uncomfortable. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the cleanliness of the communal areas. Enquire of other tenants what they think of them. In conclusion, be sure you discover the dates that the maintenance fees are due to the appropriate party and specifically how they are spending that money.