My wife and I are due to complete on the purchase of a property in Wandsworth but as a consequence of wreckage from a small fire at the property I have managed to agree reparation from the seller of £2k in the form of a adjustment in the price. I had intended this to be dealt with as part of amending the contract yet Barclays will not permit this. Should they have been involved?
Your conveyancer being on a Barclays conveyancing panel is duty bound to advise Barclays of any changes to the sale price. If you prohibit your property lawyer to notify the price change to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new lawyer for your conveyancing in Wandsworth.
Will our lawyer be making enquiries about flooding during the conveyancing in Wandsworth.
Flooding is a growing risk for solicitors conducting conveyancing in Wandsworth. There are those who acquire a property in Wandsworth, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a various searches that may be carried out by the purchaser or by their lawyers which will figure out the risks in Wandsworth. The conventional set of property information forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to discover whether the premises has suffered from flooding. If the residence has been flooded in past and is not revealed by the vendor, then a purchaser could commence a claim for damages resulting from an incorrect response. A purchaser’s solicitors will also conduct an environmental search. This should reveal whether there is a recorded flood risk. If so, more detailed inquiries will need to be initiated.
About to purchase a new build apartment in Wandsworth. Conveyancing is necessary evil 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 should expect your new-build leasehold conveyancing in Wandsworth
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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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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.
I am looking for a ground for flat up to £305k and found one near me in Wandsworth I like with a park and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Wandsworth in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I have just appointed agents to market my 2 bed flat in Wandsworth. Conveyancing is yet to be initiated, but I have recently had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you pay the maintenance contribution as normal given that all ground rent and maintenance invoices will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Having spent months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Wandsworth. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the sum to be paid.
An example of a Freehold Enfranchisement case for a Wandsworth property is 4 Galveston Road in August 2012. The Tribunal determined that the price payable in respect of the purchase of the freehold was £22,650. The Tribunal remited this matter back to the Wandsworth County Court for execution of the freehold Transfer Deed. This case affected 2 flats.
I am seeking to purchase a repossessed house in Wandsworth and the bank selling would like to complete within 28 days. Do lawyers meet that timeframe? Am I best advised to instruct a high street Wandsworth firm or an online firm that professes to offer speedy conveyancing?
Visit your Wandsworth high street. Pop in to 3 solicitor’s offices and request to talk to a conveyancing solicitor for a quote. Set out your situation and try and obtain assurances on speed. Choose the firm that comes across as most trustworthy. Make sure to select a conveyancing practitioner on the list of property lawyers who can act for your lender.