We chose a local solicitor for my conveyancing in West Hill today. Upon checking the Terms and Conditions I notewe are liable for charges even where the transaction does not complete. Should I ditch them and select an internet conveyancing brokerage who offer no completion no cost conveyancing in West Hill?
It is usually a trade off in that if "No Completion No Fee" is advertised then the fee levels will generally be more expensive to counteract the cases that do not proceed. Also remember that such deals rarely protect you from expenses for example West Hill conveyancing search costs.
The West Hill conveyancing firm handling our West Hill conveyancing has spotted a discrepancy when comparing the assumptions in the valuation report and what is revealed within the legal papers for the property. My lawyer says that he is duty bound to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
It is a dozen years since I bought my home in West Hill. Conveyancing lawyers have just been appointed on the sale but I can't locate the title documents. Is this a problem?
You need not be too concerned. Firstly there is a chance that the deeds will be with the lender or they could be in the possession of the solicitor who oversaw the purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in West Hill involves registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
Will our conveyancer be making enquiries regarding flooding as part of the conveyancing in West Hill.
Flooding is a growing risk for solicitors specialising in conveyancing in West Hill. Some people will acquire a house in West Hill, fully aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a numerous searches that can be initiated by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in West Hill. The conventional set of information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard question of the vendor to find out if the premises has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the owner, then a buyer may commence a compensation claim stemming from an misleading reply. A purchaser’s solicitors will also carry out an environmental report. This should indicate whether there is a recorded flood risk. If so, further inquiries should be initiated.
Can you provide any advice for leasehold conveyancing in West Hill with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in West Hill can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers’ lawyers. A minority of West Hill leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled. If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Organising a re-issued share certificate is often a lengthy process and frustrates many a West Hill home move. If a new share certificate is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later. Many freeholders or Management Companies in West Hill charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in West Hill.
My wife and I have hit a brick wall in negotiating a lease extension in West Hill. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a West Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a West Hill property 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 unexpired lease term was 75.88 years.
Midway through the sale of a leasehold flat in West Hill. Conveyancing solicitors are doing their job but we have been asked to pay an extortionate amount by the landlord. So far we have paid £268 for a leasehold management pack and then another £118 for additional queries supplied by the buyers lawyer.
You will not have any say over the level of the charges for this information however the typical fee for the information for West Hill leasehold premises is £395. For West Hill conveyancing transactions it is conventional for the vendor to cover the costs. The landlord or their agents are not duty bound to address these questions although many will be willing to do so - albeit often at high prices disproportionate to the work involved. Unfortunately there is no statute that mandates set fees for administrative tasks. Neither is there any set time frame by which they are duty bound to issue the information.