When does exchange of contracts happen for sale conveyancing in Totton and am I required to be at the conveyancers office?
Where you are round the corner to our conveyancing solicitors in Totton you are welcome to come in to sign documents. That being said, the law practices we work with supply a countrywide conveyancing service and provide as equally comprehensive and professional a job for you when communicating with you digitally. The signing of the contract is not when everything is set in stone. Signing on the dotted line is necessary for the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Totton)to be in the office at the appropriate time.
I purchased a semi-detached Edwardian house in Totton. Conveyancing practitioner acted for me and Alliance & Leicester . I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Totton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing lawyer who conducted the conveyancing.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Totton. Conveyancing is daunting 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 is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Totton
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There must be mutual enforceability of lessee’s covenants. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am looking for a leasehold apartment up to £305k and identified one close by in Totton I like with amenity areas and railway links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Totton for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Expecting to exchange soon on a studio apartment in Totton. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Totton should include some of the following:
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Repair and maintenance of the premises The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. if lease provides for a sinking fund for major repairs? Where does the liability rest to repair and maintain the main walls and foundations. It is essential for you to know which party is liable for the repair and maintenance of every part of the building Where does the liability rest for repairing the window frames
I purchased a split level flat in Totton, conveyancing was carried out in 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Totton with over 90 years remaining are worth £185,000. The ground rent is £65 invoiced annually. The lease terminates on 21st October 2086
With 61 years unexpired we estimate the premium for your lease extension to be between £18,100 and £20,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
How much experience do your Totton conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Totton conveyancing lawyers help thousands of buyers move home every year and helped plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Totton conveyancers have worked on recent similar matters.