Having sold my house in Windlesham last January but our buyer keeps calling every few hours complaining that his conveyancer is waiting to hear from mylawyer. What should my lawyer have done following completion?
After completion of your house sale your solicitor should forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your conveyancer must also evidence that the mortgage has been repaid to the buyers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Windlesham.
How can we tell if a Windlesham conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Windlesham obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your transaction.
I am currently in the process of buying my council flat in Windlesham. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Windlesham solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Windlesham postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Windlesham.
How does conveyancing in Windlesham differ for newly converted properties?
Most buyers of new build property in Windlesham contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because builders in Windlesham tend to acquire the site, 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 conveyancers 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 accustomed to new build conveyancing in Windlesham or who has acted in the same development.
Am I better off to use a Windlesham conveyancing solicitor in close proximity to the house I am buying? An old friend can perform the legal formalities however his firm is located over three hundred miles away.
The primary upside of using a local Windlesham conveyancing practice is that you can visit the firm to execute documents, present your identification documents and pester them where appropriate. Having local Windlesham know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and they were impressed that must surpass using an unknown Windlesham conveyancing solicitor just because they are Windlesham based.
Do you have any advice for leasehold conveyancing in Windlesham from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Windlesham can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers’ representatives. Many freeholders or Management Companies in Windlesham levy fees for providing management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Windlesham. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. A minority of Windlesham leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 solicitors. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to 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 better to reveal the dispute as over as opposed to unresolved.
I invested in buying a 2 bed flat in Windlesham, conveyancing having been completed in 2003. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Windlesham with over 90 years remaining are worth £185,000. The ground rent is £65 invoiced every year. The lease ends on 21st October 2086
You have 60 years left to run we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
I have just started marketing my ground floor apartment in Windlesham.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – Do I pay up?
It best that you pay the maintenance contribution as normal because all rents and service charges should be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the buyer 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. This will smooth the conveyancing process