I am purchasing a property without a mortgage in Temple Fortune. I have resided for the last 20 years in Temple Fortune. Conveyancing searches are expensive. Given that I have knowledge of the area and road very well must I have all the conveyancing searches?
In the absence of a home loan, then the vast majority of the Temple Fortune conveyancing searches are optional. Your lawyer will try and steer you, no-doubt strongly, that you should have searches carried out, but she is duty bound to take that path of advice. Do take into account; if you are going to sell the house at a future date, it will be of importance to your prospective buyer what the searches disclose. On occasion premises with day to day issues can still show up detrimental search results. A competent conveyancing solicitor in Temple Fortune should provide you some sensible guidance here.
As someone unfamiliar with conveyancing in Temple Fortune what is the number one tip you can give me concerning the house moving process in Temple Fortune
Not many law firms or advisers will tell you this but conveyancing in Temple Fortune and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists plenty of opportunity for friction between you and others involved in the transaction. For example, the vendor, selling agent and on occasion the bank. Selecting a solicitor for your conveyancing in Temple Fortune is a critical decision as your conveyancer is your adviser, and is the ONLY person in the process whose responsibility is to protect your legal interests and to keep you safe.
On occasion a third party with a vested interest will attempt to sway you that it is in your interests to do things their way. As an example, the property agent may claim to be assisting by claiming that your lawyer is dragging his heels. Or your mortgage broker may advise you to do something that is against your conveyancers advice. You should always trust your lawyer above all other parties in the home moving process.
Are the BSA intent on creating a online directory to list solicitors on the Earl Shilton BS conveyancing panel for instance in Temple Fortune?
Lexsure has not been advised of any intention on the part of the BSA to develop such a search facility.
I need some fast conveyancing in Temple Fortune as I am faced with pressure to sign on the dotted line within one month. A mortgage is not required. Can I escape the need for conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at liberty not to have searches conducted although no law firm would advise that you don't. Drawing on our experience of conveyancing in Temple Fortune the following are instances of what can appear and therefore impact future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
Me and my brother purchased a 4 bedroom Victorian house in Temple Fortune. Conveyancing practitioner represented me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching property. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Temple Fortune and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
I am employed by a reputable estate agency in Temple Fortune where we have witnessed a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Temple Fortune conveyancing solicitors. 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 proposed purchaser need not have to sit tight for 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 simultaneously with 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 buyer.
I am the proprietor of a second floor flat in Temple Fortune. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Temple Fortune flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The remaining number of years on the lease was 76 years.