My fiance and I are hoping to acquire a home in Melbourne and have instructed a Melbourne conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Skipton Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Melbourne lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Melbourne solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Can you explain why leasehold purchase conveyancing in Melbourne is more expensive?
In summary, leasehold conveyancing in Melbourne and elsewhere usually necessitates more hours of investigation compared to freehold conveyancing. This includes checking the lease terms, communicating with the landlord about the service of required notices, procuring up-to-date service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
My partner and I are close to exchanging contracts on the sale of our house in Melbourne and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Melbourne lawyer would know this is not the case. For the life of me I don't know why the buyers used a nationwide conveyancing practice rather than a conveyancing solicitor in Melbourne. Having lived in Melbourne for many years we know of no issue. Do we contact our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Just had an offer accepted on a new build apartment in Melbourne. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Melbourne
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I am a sole trader hoping to lease a unit on the high street. Can you recommend conveyancers offering competitive fees for non-domestic conveyancing in Melbourne for less than £1,200?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Melbourne, including the disposal and purchase of businesses as well as simply premises. Whether you are hoping to buy or lease a shop, pub, restaurant, office, retail premises or a whole business we will find you the right firm. Regarding the fees this will depend on the structure and complexity of the proposed transaction. Let us have your details or phone so as to enable us to supply you with a detailed commercial conveyancing calculation.
I am employed by a busy estate agency in Melbourne where we see a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Melbourne conveyancing solicitors. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as 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. This means that the proposed purchaser 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 before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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.
Melbourne Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
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How much is the maintenance charge and ground rent on the flat? Most Melbourne leasehold apartments will be liable to pay a service bill for maintenance of the building set on behalf of the management company. Where you acquire the apartment you will have to meet this amount, normally periodically throughout the year. This could be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay yearly, ordinarily this is not a large amount, say around £25-£75 but you need to enquire as sometimes it could be surprisingly expensive. Who are the managing agents?