Last September we completed a house move in Osterley. We have noticed several issues with the property which we consider were omitted in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been conducted as part of conveyancing in Osterley?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Osterley. Conveyancing searches and due diligence initiated during the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, a property owner completes a questionnaire known as a Seller’s Property Information Form. If the information turns out to be inaccurate, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Osterley.
My house in Osterley is up for sale and I have a buyer. Does my conveyancer need to be on the Nottingham conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham 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 requirements fairly frequently in recent years.
My wife and I are downsizing from our home in Osterley and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers used a factory type conveyancing practice rather than a conveyancing solicitor in Osterley. Having lived in Osterley for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. What do they say? You must check with 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 health insurance to cover that same sickness)
How does conveyancing in Osterley differ for newly converted properties?
Most buyers of new build or newly converted property in Osterley contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Osterley usually acquire the land, 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 Osterley or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Osterley is where the house is located. Can you offer any advice?
Flying freeholds in Osterley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Osterley you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Osterley may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I've recently bought a leasehold flat in Osterley. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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).
After years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Osterley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Osterley conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Osterley flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The unexpired term as at the valuation date was 60.45 years.