It is a dozen years since I bought my house in Putney Vale. Conveyancing solicitors have now been instructed on the sale but I can't find the title documents. Will this jeopardise the sale?
You need not be too concerned. First there is a possibility that the deeds will be retained by your mortgage company or they may be in the possession of the lawyers who oversaw the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. Most conveyancing in Putney Vale relates to registered property but in the rare situation where your property is unregistered it is more problematic but is resolvable.
How does conveyancing in Putney Vale differ for new build properties?
Most buyers of new build residence in Putney Vale approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Putney Vale 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 conveyancing solicitors 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 Putney Vale or who has acted in the same development.
I was advised by two or three local estate agents in Putney Vale to choose a conveyancer on your site. What’s the financial incentive for Estate Agents to promote your services ahead of alternative conveyancing organisations?
We don’t give any referral fee for sending work in our direction. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
We're novice buyers - agreed a price, but the agent told us that the owners will only go ahead if we use the agent's recommended solicitors as they want a ‘quick sale’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in Putney Vale
It is highly unlikely the sellers are driving this. If they desire ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Contact the owners directly and make the point that (a)you are serious buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Putney Vale conveyancing lawyers - rather thanthe ones that will give the negotiator at the agency a referral fee or hit his conveyancing targets demanded by head office.
I work for a reputable estate agent office in Putney Vale where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Putney Vale conveyancing solicitors. Could you clarify whether the owner of a flat can commence the lease extension formalities 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 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 simultaneously with completion of the disposal of the property.
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 am the leaseholder of a two-bedroom flat in Putney Vale. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Most certainly. We are happy to put you in touch with a Putney Vale conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Putney Vale premises is 158 West Hill in November 2010. the Tribunal held that the premium to be paid for the freehold reversion should be £99,650 This case related to 7 flats. The number of years remaining on the existing lease(s) was 75.88 years.
Do I cancel the direct debit for my mortgage with Santander as soon as a completion date for my home sale in Putney Vale has been agreed?
You would be well advised to keep meeting any mortgage payments to Santander pending the mortgage being redeemed on completion as part of your Putney Vale conveyancing.